Preparing a Last Will And Testament
No one likes to think about their own death, but making a Will ensures that your family won't have to sort out any complex financial arrangements if you should die.
With circumstances constantly changing throughout each of our lives, a Will acts to ensure that your last wishes are carried out to guarantee peace of mind.
A Will is a set of clear and concise instructions left to your executors to distribute your belongings and property in accordance with your wishes. If you do not make a Will, the state directs who inherits your assets, so some of your relatives or friends may receive nothing.
There are many aspects to consider when putting a Will together. At Clarke & Son our friendly experts will discuss the process of writing a Will from start to finish with you, whilst explaining the various legal terms along the way. If you have trouble with mobility, we can make arrangements to visit you in your home at no extra cost, whether that's in Basingstoke or further afield.
If you're not sure about the need to make a Will, ask yourself whether you know the answer to this problem:
Question: Mr Smith has a daughter Jane. He made a Will in 1995 leaving all his property to Jane. In 1999 he married Susan. In 2007 he died in a car accident without making a new Will. Who is entitled to his belongings and Property?
Answer: At the date of his death, Mr Smith did not have a valid Will. The Will that he made in 1995 was automatically revoked by his marriage to Susan. His estate therefore passes under the rules of intestacy. The first £125,000 goes to Susan together with Mr Smith's personal belongings. The remainder (if any) is divided into two shares. One share belongs to Jane. The other share passes to Susan for use during her life. On her death it passes to Jane.
For more information read our PDF Data Sheet on Making A Will.
Where to keep your Will
After your Will has been signed and completed, we can store it free of charge in our deeds strongroom. We will send you a copy of your Will for your records.
Reviewing and Changing your Existing Will
You should make a point of reviewing your Will every five years or so. You may have additional children or grandchildren you want to add to your Will. You may wish to change your Executors.
Simple changes to a Will can be effected by drawing up a Codicil. This is a short document that is placed with your existing Will that sets out the update you wish to make to your Will. Codicils are suitable for changes you wish to make to your executors or extra gifts of money or belongings that you wish to set out. However, if there are a number of changes you wish to make, it is often simpler to make a brand new Will.
For more detailed advice or to arrange an informal chat, please contact: Nia Wharry. Nia is a Member of Solicitors for the Elderly and the Society of Trust and Estate Practitioners.
Nia Wharry- Email Nia Wharry
Alternatively, you can call Nia Wharry on 01256 320 555.
If you'd like further information on Probate, please see our Probate & the Administration of Estates section.
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