Most people delay making a Will for as long as possible, but in reality, creating a Will is quick and easy to do, with the right advice. As potentially the most important document you will ever sign, it’s crucial that your Will is drafted correctly and you receive appropriate advice if you want to protect your loved ones upon your death and ensure they benefit from your assets.
For some people with complicated personal and financial situations, the complexities of their situation may not be fully addressed with a do-it-yourself service for Wills and Estate Planning. While many of us would prefer to fill in the blanks in silence than have to talk to anyone about our doubts or concerns, it most certainly helps to get experienced advice.
As professionals, we’ve seen hundreds of estate-planning documents, including Wills from do-it-yourself online services. While these online Will providers might seem like the easiest option, offering to save you time and money upfront, the reality is, they may not cover all aspects of your individual situation and could lead to expensive and unpleasant estate planning mistakes.
First it’s important to know, that creating your Will with the help of a professional is easier than you think. From start to finish, making your Will with Comptons can take as little as three weeks and we guide you through each step to make it as stress-free as possible.
We’re available throughout the entire process to answer any questions you might have. So here’s how we’d go about it:
We will provide advice on provisions that should be included in the Will given your particular circumstances and intentions. It could also include advice on how your assets pass on death, the law that would apply and the law that could apply if a valid Will wasn’t left behind, any potential claims that could arise on death and how to help mitigate the risks of such claims arising.
We also consider the Inheritance Tax (IHT) implications of leaving assets in a certain way, advise on trusts including tax advise and advise on the succession law and/or tax that applies to assets held in the UK and Internationally.
Lanka Bandara, Head of Private Client at Comptons Solicitors explains why a Lasting Power of Attorney (LPA) may need updating in the UK under certain circumstances.
Writing Wills and Estate Planning may seem to some, something to get round to in the future. But rather alarmingly, a recent IRN Wills and Probate Research Report, titled UK Wills & Probate Market 2020: Consumer Research Report*, has found that fewer than 4 in 10 adults in the UK have made a Will, despite owning a property.
A Lasting Power of Attorney (also known as an LPA) is a legal document that can be used to appoint someone else to make decisions about your own assets, health and welfare.