Give yourself a gift this Christmas – a Will from Quill Legal
December 20, 2022 by QLAdmin
Consider what would happen to your estate if you died today and make sure you have an up to date Will. Review your Will every few years or when your circumstances change, such as marriage, death or divorce. Take control of your estate’s distribution rather than letting it be inherited by someone not chosen by you.
What are the main decisions you have to make?
The two main points you need to decide :
- Who to appoint as your executors
- Who should inherit your money, house, or any other assets you may own
Who should you choose to be the executors of your Will in Scotland?
It is preferable to appoint someone younger or around the same age as you, simply because they are likely to be alive when you die. Many people appoint their spouse, adult children or a non-family member.
How many executors should there be?
Consider appointing a substitute as well as a principal in case the principal executor cannot act for any reason, such as ill health or death. You could also appoint more than one executor to act together, but avoid appointing too many as this might cause delays in paperwork and decision-making.
What are the duties of an executor?
Executors are responsible for efficiently winding up your estate, which may include tasks such as registering the death, arranging the funeral and ensuring certain invoices are paid. Their duty is to complete tax and court paperwork and to manage the deceased’s assets until they are distributed to the beneficiaries according to 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, married, had children or moved house. The tax position may have altered. It is always advisable to seek advice on whether any such changes might affect your estate or your spouse’s. Having a Will gives you the satisfaction of knowing that your chosen beneficiaries will inherit your estate at the time you decide and subject to any reasonable conditions you stipulate.
What if there is no executor of the Will in 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, the Sheriff Court must make an appointment. This results in delays and additional costs; in these circumstances it is always advisable to seek professional help. Quill Legal executry solicitors Edinburgh can assist you in these situations – please get in touch on 0131 564 1044 or use the contact form on the website.
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 help you make a valid Will or to review your existing one. She is also available to advise you if you need help with winding up an estate or to provide executry services in Scotland : firstname.lastname@example.org
Principal of the Firm
Get in touch with me when you need reliable legal advice on any aspect of Executries, Wills, Powers of Attorney and Notarial services.
Telephone: 0131 564 1044