Wills
Wills Overview
Unbelievably, thousands of people every year die without having made a Will, dying without leaving a Will is known as 'intestate' and this means that you have no say in where your money and/or property goes. It cannot be assumed that if you are married your estate will automatically pass in its entirety to your spouse. Also, if you co-habit, your partner will not receive any part of your estate unless you have made a Will.
Here at Kalee Lau & Co Solicitors, we can guide you through all the procedures to help making a Will as easy and stress free as possible. We can:
- Visit you at home
- Arrange for Powers of Attorney
- Give you advice if you are elderly or are living with a partner
- Arrange for Executorship and Trustee services
- Keep your wills in secure, safe storage
- Review your Will every 3 years to ensure it is kept up to date with any changes to your circumstances
The circumstances that may require you to change your will are:
- Divorce or Separation
- Marriage
- Birth within the family
- Death within the family
- A child attaining adulthood
- A change in your financial or tax situation
- A relative becoming mentally or physically incapacitated
- A change in your residential status i.e. you move abroad
Probate
Probate is the legal certification of a Will authorising the elected Executors to carry out the wishes of the deceased. This is certified by the Probate Registry. All debts have to be settled before any monies/effects can be distributed or invested for minors or incapacitated beneficiaries.
Kalee Lau & Co Solicitors can assist and advise on the following for you upon a person's death:
- Arranging the funeral
- Obtaining Probate
- Clearing outstanding debts
- Liaison with financial institutions, Government departments, insurance companies and creditors
- Valuation and selling of property and shares
- Inheritance Tax, Income Tax and Capital Gains Tax
Executors
Anybody you wish can be appointed as your Executor but always bear in mind that the person you appoint should be someone who you can completely trust and rely on to carry out your wishes in an efficient and competent manner. You can of course appoint Kalee Lau & Co Solicitors if you would prefer not to burden your friends or relatives.
Death Duties
You will need professional advice to minimise or event avoid the amount that could be payable in inheritance tax. We are only to happy to assist on this matter.
