I'm divorced - what will happen with my existing Will?
Getting divorced does not cancel a Will, but a gift to a divorced spouse lapses, unless a contrary
intention appears in the Will.
Can I make my own Will?
Yes, you can. But there are significant risks in doing so - which you will not be around to sort
out. It could mean substantial legal fees to put things right - quite apart from the upset and
confusion it could cause those you leave behind. You should consider
* A Will that is not clear under the law is open to challenge and your wishes may be overruled.
* A Will not made under the correct procedures can be rendered invalid
* When making your own Will you may overlook some possibilities and unforeseen changes in circumstances.
Can an executor be a beneficiary?
Yes. Often the main beneficiary is one of the executors.
Who are my executors?
You must to appoint a person to administer your estate once you die. It will be that person's job to ascertain what you owned at the time of your death and then distribute those assets in accordance with the terms of your Will. It is important that your executor lives in the UK so do not choose someone who is normally resident abroad or is likely to move abroad in the foreseeable future. If your estate will consist of land then you must appoint two executors, otherwise legally one will do.
What happens if I die without a Will?
Many people think that their Estate will go to their partner when they die. This isn't necessarily the case. For example, an unmarried partner will be entitled to nothing. Even a spouse may not receive the entire Estate and worryingly, may not receive enough to maintain their current lifestyle.
|