Services/Wills/ Probate
Making a Will.

Why make a Will?

There are a number of reasons for making a Will. The most obvious being that by doing so you ensure that your estate will be passed to those you wish to benefit. If there is no Will then the Rules of Intestacy apply. This may mean that the surviving spouse does not automatically inherit the whole estate. By making a Will you are able to appoint people you trust to act as Executors and Trustees who will be responsible for ensuring fair distribution and if necessary investment of your assets. If you have young children, you are able to appoint guardians to look after them after your death and until they attain 18.

Couples who live together and are not married cannot even rely upon the Intestacy Rules and would need to make application to Court in order to prove a claim for any rights to the estate of the first to die. Many marriages nowadays fail and second marriages are common. Upon a divorce the parties need to consider making a fresh Will to reflect their new status. On remarriage any Will made prior to the marriage is invalidated and a fresh Will is required e.g.. It may be necessary to provide for children from a first marriage separately.

Tax Considerations. It may be possible to avoid Inheritance Tax by an appropriately drafted Will.

What To Do When Someone Dies

When someone dies you are confronted not only with dealing with your own grief, but also with a wide range of situations which will appear strange and somewhat daunting. At Harvey, Escott & Co we aim to provide a sympathetic and effective service to help you deal with this distressing time. This brief guide aims to provide you with details of the basic steps which will need to be taken and to explain some of the legal terms you will encounter.

Who deals with the estate?

The general name for a person appointed to deal with an estate is the personal representative. Where the Deceased has appointed a personal representative in their Will they will be referred to as their Executor. The Executor will deal with the estate in accordance with the terms of the Will. Where the Deceased did not leave a Will (i.e. they died intestate) the personal representative is referred to as the Administrator and the person appointed must be in accordance with the rules laid down by law. The estate will also be distributed amongst relatives in accordance with statutory provisions.

What will the Personal Representative have to do?

The following points set out some of the basic steps:

• Register the death with the Registrar in the area where the death occurred.

• Establish the whereabouts of any current Will.

• Ensure that the possessions and property of the deceased are secure. It is particularly important to check that any property is properly insured.

• Arrange the funeral and contact family and friends of the deceased.

• Gather together details of the deceased's assets and liabilities.

• Make sure that the DSS, the Inland Revenue and any employer or pension officer are contacted to let them know of the death. Once this information has been compiled it will then be necessary to establish whether any Inheritance Tax needs to be paid.

• Apply for the grant of representation. The grant must normally be supplied to organisations before they will release funds due to the estate.

• Payment of Inheritance Tax. When dealing with an estate where Inheritance Tax is payable it will be necessary for at least part of this to be paid before being able to take out the grant. Your solicitor will be able to advise you as to the best method of arranging payment.

• When dealing with a relatively small estate it is worth noting that some organisations may be prepared to release funds where the asset held does not exceed £5000, but they will normally require an indemnity from the Executor.

• Once funds due to the estate have been received it is then necessary to pay any outstanding tax and other debts which may be due from the estate.

• Prepare formal estate accounts detailing money received and paid on behalf of the estate.

• Finally once all funds have been received and all debts paid, it will then be possible to make final distribution of the estate to the beneficiaries.

• What should I do if I need any further help?

If you would like further assistance, please contact Mrs. Hilary Escott to arrange an appointment or to discuss any particular aspect of an estate upon which you require assistance.