Wills and Probate

A Will is probably one of the most important legal documents that you will have to prepare. With changing circumstances throughout your life, a Will acts to ensure that your last wishes are carried out and as such guarantees peace of mind.

Why Do You Need a Will?

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.

For more information read our PDF Data Sheet on Making A Will.

Inheritance Tax Efficient Wills

With ever increasing property rates, especially within the South East, Inheritance Tax Efficient Wills are becoming an increasingly important consideration which residents of Basingstoke and Hampshire should be aware of. Many people now have assets that are above the Inheritance Tax threshold. If you are a married couple or civil partners, we can provide detailed advice and prepare a Will for you that will minimise the amount of Inheritance Tax your family will have to pay. Our understanding of the law and financial implications could help you save thousands of pounds in inheritance tax on transfer of your assets.

For more information read our PDF Data Sheet on Avoiding Inheritance Tax.

Our Fees for Preparing your Will

To draw up a single basic Will costs £135.00 plus VAT.
To draw up two basic Wills for a couple costs £235.00 plus VAT.
Two wills incorporating Inheritance Tax savings for a married couple or civil partners will cost £600.00 plus VAT for the pair.

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. You personal wealth may have increased significantly and you now wish to draw up a Will that will save Inheritance Tax.

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.

If you are unsure whether you need to amend your Will, please contact James to discuss.

Our fees for preparing a single Codicil start at £60.00 plus VAT and for two Codicils for a couple, £95.00 plus VAT.

Living Wills

A Living Will is a legal document that specifies what types of medical treatment you wish to refuse should you become incapacitated. A Living Will can be general or very specific, we recommend that you discuss the contents of your Living Will with your Doctor. At Clarke & Son we can advise you on the contents of a Living Will, prepare a draft for your approval and arrange for the Living Will to be executed correctly.

For more information read our PDF Data Sheet on Living Wills.

Probate & the Administration of Estates

The term probate refers to the process of administering a deceased persons estate. When a person dies, a personal representative (usually the executor named in the Will) has to deal with the estate (the money, property and possessions left by the deceased) by collecting in all the money, paying any debts and distributing the estate to those entitled to it.

The personal representative dealing with the estate will often have been appointed by the deceased as an executor in the Will. However if the deceased has not made a Will or failed to appoint an executor in their Will, then the Court will appoint an administrator to act as the personal representative.

If the estate is small or most of the assets are held jointly with the surviving spouse then a personal representative could administer the estate without using the help of a solicitor.

If it appears that the personal representative will be able to deal with everything satisfactorily then we will be happy to give some initial advice at no cost and then take no further part in the administration. However, If the deceased's estate is large or complicated, then it is advisable to use a solicitor who can administer the estate on your behalf.

It may be possible to reduce or eliminate Inheritance Tax liability incurred by the family by varying the deceased's Will.

For more information, read our PDF Data Sheet on Probate and the Administration of Estates.