Contents
Why make a will?	Will Inheritance Tax apply?
How much will it cost?	Who should I appoint as executors?
What information will I need to provide?	Where should the Will be kept?
Whe can I change my will?

Unfortunately two out of three people do not make a Will, and if you are one of those, strict rules determine who gets what, if anything, from your estate. Friends, favourite charities, even relatives may get nothing.

Please also remember that Inheritance law does not automatically recognise live-in partners either - just married couples. Lastly, "home made" Wills are undoubtedly cheap, but many have ended up in Court, thus proving very costly in the long-run.

How much will it cost?
It may not be as expensive as you think. We offer a Wills service at two levels:

Standard Simple Wills. This service is applicable to the majority of people.

More complicated arrangements: Where particular wishes and complexities have to be met. This level is obviously more costly, and we will advise you at interview if, in our view, you need this service.

Within our second level, we include what are known as 'living wills'.

These are wills which endeavour to make an advance directive or statement about the concerns that people making a Will may have regarding unacceptable medical treatment, or being kept alive through artificial means against their wishes.

A living Will sets out in advance what kind of medical treatment you wish or do not wish to receive in the event of you subsequently becoming medically incapable of giving or refusing consent, or communicating your views.

What information will I have to provide?
Before you see us, you should be doing some preparation:

List everything you own - your house, stocks, shares, bank and building society accounts, life insurance policies, vehicles and all valuables and possessions. Also put down any property that you are likely to inherit from other persons.

Make a rough calculation of the value of all the above.

Decide who you want to benefit, and how much you want them to receive and when.

When can I change my will?
The short answer is "at any time". You should go through your Will at least yearly to make sure everything set out is what you still want, particularly if your circumstances change.

Minor changes can be accommodated by a small amendment called a Codicil. These are quickly and easily prepared at little cost.

Will Inheritance Tax apply?
If your total "Estate" as worked out above, less all liabilities at date of death is above £242,000 (this figure being applicable as of March 2001 but please check the applicable figure at the time of your calculations) then, on your death, your inheritors will have to pay inheritance tax. This is a State tax.

We can always advise on steps that can be taken to reduce or minimize this. Planning in advance almost certainly saves Inheritance Tax, but you need to be sure that you balance that against leaving something to those who you want to benefit.

Who should I appoint as executors?
In your will, you should appoint executors, and this is something you should give thought to before you see us. Four is the maximum number that can actually be involved in proving your will. It is an important aspect, so choose carefully.

You have to be sure that they will be around when you die, that they are happy to take on what may well be a burden, and that they are trustworthy.

In our view, a good combination is to have one professional Executor and one personal Executor. Partners of this Firm will always be happy to act as Executors, thus giving an impartial view to the administration of the Estate, the personal Executor being a friend or family member who knows you well.

Where should the Will be kept?
Once your Will is prepared, the question then arises where to keep it.

We will be happy to keep it for you at no extra charge (although we do reserve the right for making a production fee) - remember in that respect that most Banks now charge for safe-keeping of documents. Do tell your family where the original Will is being kept. It is also sensible to leave all the necessary information about keys, bank accounts, credit cards and the like with your Executors so that they can deal with things easily.

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