Considering making a Will?

Here are some of the words you might have come across and a plain English explanation of what they mean.

Testamentary capacity

To have the ability to make a valid Will or to amend an existing Will – you have to be over the age of twelve and to understand what you are doing. You must be capable of making and communicating a decision, comprehending the implications and recalling the making of that decision.

Legal rights

The rights of a spouse and children to some of the money in a deceased person’s estate.

Prior rights

The rights of a deceased person’s spouse to property, furniture and money in their estate when there is no Will. These rights apply whether or not the spouse is still living with you at the time of death so if you separate it is important to be aware of this.

Power of Attorney

Authorises another person to make decisions in your best interests when you have become incapacitated through illness or accident. An attorney cannot change the terms of your Will and a solicitor may only take instructions from you, the client.

Title

Generally refers to the ownership of your property, which may be held either by you alone or by you and your partner, spouse or another person.

Survivorship destination

If the title is held in the name of you and another person and the survivor, this means that the half share of the title will pass to the survivor on the first death. Your Will cannot change this but divorce or dissolution of a civil partnership does end this right.

Heritable

Refers to property, land and buildings.

Moveables

Refers to money, furniture, jewellery and such like, generally anything other than heritable property.

Intestacy

When there is no Will left by a deceased person the estate is described as intestate.

Issue

This is a reference to children and grandchildren.

Executor

One of the main benefits of making a Will in Edinburgh Scotland is that you have the opportunity to appoint someone you choose to act as the executor of your Will; that person has the responsibility of ensuring that your wishes are carried out after your death and is the decision maker.

If you fail to make a Will, the distribution of your estate will be made according to the law of succession in Scotland. Putting a Will in place means that you can choose who will inherit a share in your estate. It is crucial that you take the opportunity to consider your options now.

If you would like to talk to someone about Will writing or the best way to make a Will in Scotland please do not hesitate to get in touch with Kay Blaikie at Quill Legal by telephoning 0131 564 1044 or by completing our contact form

Thinking about reviewing an existing Will?

The best advice is to review your Will every few years and certainly when your circumstances change. When people named in your Will change their address and contact details this does not mean that you need to adjust your Will but it would be sensible to keep a note of the new address with your Will so that your executors know how to get in touch with everyone.

If your circumstances change as a result of various life events your Will may need to be updated as a result. Some examples of material changes are noted below but the list is not exclusive. If you would like to discuss your circumstances you should not hesitate to get in touch with Kay Blaikie, Will Lawyer Edinburgh by telephoning 0131 564 1044 or using our contact form

Divorce or dissolution of a civil partnership or cohabiting arrangement

As soon as you separate you should consider reviewing your Will. This might entail changing the executor you have appointed as well as the details of your beneficiaries. Simply because you have separated from someone does not mean that they cannot inherit part of your estate under your existing Will or act as your executor. When the divorce or dissolution goes through that right to succession and to act as executor disappear.

Marriage and entering into a civil partnership

You may now wish to include provision for your spouse or partner.

Birth of children or grandchildren

You may want to ensure that your children and grandchildren will inherit a particular share of your estate. Were you to die while your children are still young the appointment in your Will of a guardian enables you to direct who should care for them, perhaps alongside your surviving spouse. You can also introduce direction on how their shares of your estate should be managed until they reach a specified age.

Illness

If you have become unwell and anticipate that you will need care in the future you may wish to explore ways of managing your estate to make allowance for that particular change of circumstances.

Foreign assets

If you purchase or inherit assets in another country you will need to investigate whether a Will in that place would be appropriate or if your Scottish Will is adequate.

Death of any of your beneficiaries

You may wish to name others in their place.

Disposal of assets specifically referred to in your existing Will

You should consider whether you wish that beneficiary to inherit another part of your estate.

Quill Legal Will Lawyers Edinburgh can help you to decide what is best for you. Generally it would depend on how your existing Will was drafted and what type of changes have taken place but the existing Will could be adjusted either by using a codicil, which would be drafted to reflect the specific new circumstances or by a whole new Will where the amendments required are more radical.

If you want to find out how much it is to make a Will in Scotland or making Will advice or the best way to make a Will or review it or if you are looking for general services for Will writing or review Edinburgh or anywhere in Scotland please do not hesitate to get in touch by telephoning 0131 564 1044 or by completing our contact form