WILL AND ESTATE LAWYERS MANCHESTER
“Just a quick thank you your law firm were so helpful and accommodating for my mother and father in Manchester.”
“Our whole family would just like to take this opportunity to thank your law firm for all your help steering us through the process of finalising our parents estate. Finding a local family law firm in Manchester who have been diligent and patient has been an absolute pleasure”.
“My Father told me he is now greatly relieved that his will and other affairs are at last in order. Thanks so much for your help.”
Looking for will and estate lawyers in the UK? This probably means that you are involved in some type of legal issue that covers UK Executry Law. Have you been appointed as an executor or administrator recently? Perhaps you feel that you have a legal claim to the estate of a deceased relative? Are you planning to write your own will and do you want some legal aid in creating the same? This is one of the main reasons why you may want to look into will and estate lawyers.
Will and estate lawyers – Making A Will
Making a will is definitely much easier if you look into will and estate lawyers to help you out at the start. Of course, if you want to do it by yourself, it is actually possible to write your own will without the aid of a solicitor. However, do take note that you should be aware of the risks involved in writing your will on your own. For one, there is no guarantee that your will is going to be legally compliant and that it will even be approved by the court for probate. This means that it might not have any legal effect at all and any beneficiaries that you assigned in your will are not going to be able to benefit from the proceeds of your estate. If you are going to the trouble of making a will, this is definitely a situation that you will want to avoid.
Formally Witnessed Will
In order for a will to be valid under UK jurisdiction, it is required that a will must be formally witnessed and signed by at least two independent witnesses who are 18 years old or older and that they are not under any legal impediments that might affect their legal capacity as witnesses. Furthermore, these witnesses cannot be beneficiaries or even potential beneficiaries in your will. Naturally, you should understand that family members and other interested parties cannot be considered as independent witnesses to your will.
The Inheritance Tax
One good reason to write a will is to ensure that you do not pay more inheritance tax than you need to. Basically, the inheritance tax is a type of tax that is imposed upon the estate of the deceased, which includes all the property, money, and possessions of the one who died.
Of course, the inheritance tax is subject to certain legal exemptions for people who leave behind very little. The current threshold is £325,000. If your estate is less than this amount, then no inheritance tax is due. Furthermore, even if your estate exceeds this amount, the £325,000 threshold still applies and you only pay as much inheritance tax as your estate exceeds the threshold.
Also, if you leave everything in your estate above £325,000 to your spouse, civil partner, or some charity, then no inheritance tax is imposed.
The current rate of inheritance tax in the UK is 40% imposed upon the portion of the estate above the threshold. It is best to ask some professional will and estate lawyers if you have any further clarifications.
For any advise on wills, inheritance tax or estate planning as well as power of attorney get in touch today!