Making an effective and well-planned will allows you to decide who should benefit from your estate. It creates certainty, reduces worry and gives you the peace of mind of knowing exactly how your money, property and possessions will be dealt with after your death. Making a will is also usually the first step in minimising Inheritance Tax and maximising saving.
Your will is an important legal document and needs to be written by a qualified professional. At SMR Solicitors, we are able to offer unbiased, confidential advice and can usually complete matters quickly and easily. There may also be circumstances when more detailed planning is needed, and we have the expertise and resources to provide advice on issues such as Inheritance Tax, trusts and other financial matters where substantial savings could benefit your family.
If you wish, SMR Solicitors can also act as your Executor (the person who takes responsibility for administering your estate after death). This can ease the distress for relatives and friends, and ensures that your wishes are carried out fully and as smoothly as possible. As executors we can:
- arrange your funeral
- identify assets and arrange valuation
- pay outstanding debts
- claim any benefits or exemptions, and, if applicable, release from Inheritance Tax
- pay any taxes due
- ensure that relatives, friends or charities receive exactly what they are entitled to.
If your circumstances change through marriage, divorce, having children, buying or selling your home, we can advise if you need to alter your will. We can also tell you if you need to make a completely new will or simply make an amendment to an existing will, known as a ‘codicil’. You should not alter an existing will yourself or attach anything to it.