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If you do not have a valid Will when you die your estate will be divided in accordance with the laws of intestacy, this would mean your spouse/civil partner would receive a set cash value of your estate after which the remainder of the estate will be divided equally between your spouse and your children (step children are not provided for under laws of intestacy) if you have no children then your estate will pass to other members of your family in a pre-determined order.
If you are in a relationship but you are not married your partner will not automatically inherit all your assets as Common Law is not recognised in the UK, joint assets such as bank accounts and property will automatically be passed to the surviving partner although inheritance tax may be payable if the estate is valued at over £325,000. This may result in your home having to be sold to pay the Inheritance tax liability, the remaining estate will be distributed under the laws of probate to blood relatives in a predetermined order by the court after probate has been obtained and inheritance tax has been paid.
Your estate plan sits alongside your Will and sets out your wishes on how you would like to leave your assets and how you would like your estate to be managed in order to protect your estate and its beneficiaries from the impact of Inheritance Tax.
Yes, all our Wills are written by qualified professionals and undergo a full legal check before being sent to our clients.
No you don’t need a Solicitor to write your Will, you can write your own Will but to ensure your Will is legally binding it is recommended that you use the services of a professional who is qualified to do so. As a member of the Society of Will Writers our Will writing professionals are qualified and bound by the Society’s code of conduct and carry Professional Indemnity insurance of £2.5 million to ensure you are protected
Yes it is perfectly fine and legal to name the same person as an executor and a beneficiary in your will.
Yes, you can act as an executor even if you're going to inherit something from the Will. In fact, an executor is often a Spouse or Child.
No, do not use a beneficiary as a witness, it does not make your Will Invalid but it does invalidate the gift to them therefore they will not inherit it.
In order to do this you can sever the Joint Tenancy on your home so that you become Tenants in Common. As Tenants in Common you will each own 50% of the property, you can then gift your 50% to your children in your Will and give your spouse the right to remain living in the property until they die, this can also protect your children's share should your spouse remarry or need to go into care.
If your husband dies and the house is in his name, it will likely need to go through probate before it can be sold. During probate, the court will appoint an executor to oversee the distribution of your husband's assets. The executor will determine who inherits the house and any other assets.
As long as you are living in the marital home you can not be made to sell it and the property value will not be taken into account in determining how much, if anything, your husband must contribute to his care costs.