About JM Wills
Most people know the importance of making a Will, but for one reason or another never get around to it. Many people believe they do not need to make a Will because they do not have substantial savings or property. In fact, if one is worth more than £5,000, their assets will be frozen, and no one will be able to benefit from them until probate is granted. Having a Will greatly speeds up and reduces the cost of this process.
If one does not have a Will, the government (through the Laws of Intestacy) will decide how their estate is divided when they die. Even if they are married, the surviving spouse may not inherit all of their assets, and if they have children, they automatically claim their share when they turn 18.
For many people, the prospect of writing a Will can be a daunting process. This can be exacerbated when faced with multiple options and a hierarchy of fees, as it can be difficult to know which option is right for their needs. James McKenzie recognizes this is often a reason people put off writing a Will, so they have simplified their offering into two distinct services.
They work on a fixed fee basis, so irrespective of the time taken to complete the process, or the number of clauses required in the Wills, there are no hidden extras. Furthermore, they do not appoint themselves as Executors, which can save thousands of pounds in unnecessary legal fees after death.
They offer two levels of service under their Will writing proposition – Standard and Advanced.
Do I need a Will?
If you have answered yes to any of the above questions, you should consider writing a Will.
A significant part of life is spent working to provide for oneself and one's family. However, it's also crucial to think about what will happen after one is gone. Without a Will, the government (through the Laws of Intestacy) will determine how the estate is divided after death. Under these laws, even if someone is married, their surviving spouse may not inherit all the assets. If there are children, they can claim their share of the estate when they turn 18 (16 in Scotland). By writing a Will, one can ensure that their assets go to the chosen beneficiaries and at an age specified by them. In the case of unmarried partners, the surviving partner may receive nothing, and the estate defaults to the parents. This situation could lead to additional Inheritance Tax implications that can be avoided by writing a Will.
They strongly advise considering the creation of a Will to provide clarity and control over the distribution of assets, ensuring that one's wishes are honored.
Main Features of The Project
- Wills
- Trusts
- Lasting Power Of Attorney
- Document Storage
- Inheritance Tax
- Mortgages
- Financial Planning
