Give yourself a gift this Christmas – a Will

Think about what would happen to your estate if you died today and make sure you have an up to date Will. Remember that you should review your Will every few years or if your circumstances change at any time, such as on the occasion of a marriage, death or divorce. Take control in this way rather than allowing your estate to be inherited by someone not chosen by you.

What are the main decisions you have to make?

The two main decisions which you require to make :

• who to appoint as your executors and 
• who should inherit your money, your house or any other assets you may own

Who should you choose to be the executors of your Will in Scotland?

It is probably better to appoint someone who is younger than you or around the same age, simply because they are likely to be alive when you yourself die. Many will appoint their husband or wife or adult children but it does not need to be a family member

How many executors should there be?

It is good to consider appointing a substitute as well as a principal in case the main executor is not able to act for any reason, such as ill health or death. You could also appoint more than one executor to act together but it would not be practical to appoint too many executors because this might cause delay when paperwork has to be circulated and signed or estate decisions have to be made.

What are the duties of an executor?

They have responsibility for the efficient winding up of your estate and play an essential role, which might include tasks such as registering the death, arranging the funeral and ensuring that any immediate invoices are paid. Their duty is to ensure the completion of tax and court paperwork and to manage the deceased’s assets until they are distributed to the beneficiaries in accordance with the Will or the law on intestacy.

Who do I want to inherit my estate?

If you made your Will a while ago much may have changed. Some of your beneficiaries may have died, some may have married or had children, several may have moved house. The tax position may been revised.  It is always advisable to take advice on whether any such changes might affect your estate and perhaps also that of your spouse. Having a Will will give you the satisfaction of knowing that the people you have chosen will inherit your estate, at the time you decide and subject to whatever reasonable conditions you care to stipulate. 

What if there is no executor of the Will Scotland?

If you do not have a Will or if your executor has died and you have not appointed a substitute or joint executor in your Will it is necessary for an appointment to be made by the Sheriff Court. This will result in delay and additional cost and in these circumstances it is always advisable to obtain professional help. Quill Legal executry solicitors Edinburgh can help you in these circumstances – please get in touch.

So – is it time to review your Will or do you still need to make a Will?

Kay at Quill Legal Executry Solicitors Edinburgh would be happy to assist you to make a valid Will or to review your existing Will and is also ready to advise you if you need help with the winding up of an estate and executry services in Scotland. Please contact Kay executry lawyer Edinburgh using the website contact or call back form or by calling the office : 0131 564 1044 or by email : kay@quilllegal.co.uk