Is Your Legacy Protected? The importance of an accurate professionally drafted Will
We understand that writing your own Will can be tempting. After all, who doesn’t want to save some money?
The importance of an accurate professionally drafted Will.
However it is worth considering the bigger picture. Getting a professional involved can help eliminate potential heartache, and the comparatively little cost of expert advice spent now could save your family significant expense and stress in the future.
From the outside writing your own Will might appear straightforward however there is much to think about to ensure that your wishes are followed to the letter, even after you have died. Your instructions must be clear and unambiguous as unfortunately once you have passed away it is impossible to go back and clarify what you meant.
Planning for Life’s Uncertainties
Your Will contains many different instructions and should make provisions for different circumstances. Life is full of uncertainties and your Will should take account of these as best it can. For example what if one or all of your original beneficiaries dies before you? Where will your money go if they are not there to inherit? How are you providing for your children and, potentially, any future children or dependents? All of these questions and many more need to be asked and considered when drafting your Will.
Providing Protection For Your Dependents
Don’t forget a Will is about more than just money. Have you planned your children’s guardianship? Who would you choose to look after your minor children if someone needed to step into your role in your absence. The legal age for children to inherit in Scotland is sixteen but many people decide to let their children grow into their bequest and postpone access to their inheritance until they are older and better equipped to manage it. You know your children best; have you considered when they should receive their inheritance and decided that you would like them to receive your gift when they are a little older? If this is the case your will needs to account for this. If their inheritance is going to be held back, who would you trust to look after this on their behalf until they reach your chosen age.
The importance of Clear Drafting
Ambiguous wording in a Will can be problematic. For example, you may say, ‘ I leave my whole estate to my children’ but does this include their half siblings or any estranged children? Similarly, you might add ‘give the cash to X and the house to Y” but what if your house has had to be sold to pay for your elderly care? The specifics are important and the details matter. It is important that your final executed Will is as clear as possible.
Execution and Preservation – It is Not Just About What Your Wills Says
Even if your Will has captured everything you would like it to in a way that will accurately reflect your wishes, you cannot forget the practicalities that can leave a Will open to challenge as these are equally important. Has it been properly signed and can its witness be traced if checks on the circumstances are required? Did you know that the Confirmation process requires the original Will, not a copy? There are various pitfalls that need to be considered and your Solicitor will ensure that all the requirements are satisfied. Proper execution and preservation are essential and that is why we offer to store everything securely on behalf of our clients.
Putting Yourself in Safe Hands – Peace of Mind For You and Your Family
In addition to its contents and execution Wills, along with Powers of Attorney, are one of the most emotive legal issues. Drafting your Will with the guidance of a Solicitor can provide you clarity and peace of mind. An experienced professional will help you make informed decisions based on careful consideration of your circumstances and wishes rather than decisions made under pressure or to simply satisfy the expectations of others. Having the experience of preparing many Wills and administering Executries, your Solicitor understands the common pitfalls and can guide you expertly through a range of potential scenarios helping to ensure your Will is an accurate reflection of your wishes.
Need Advice on Preparing a Will?
Your Will is one of the most important legal documents you will ever put in place. Drafting your Will with our experienced team can help ensure your wishes are both clearly recorded and legally protected. Let us help you get your Will right, giving your family greater peace of mind.
Do you need advice on preparing a Will? Please get in touch with our team today for expert advice and guidance.