There is a common misconception that you need to be old before you think of making a Will. Trust us when we say, this is genuinely not the case. You do not need to be elderly to make a Will. Even if you are young, do not have children, are single or do not have many assets, you should still consider making a Will. 

 

Everyone, no matter what age or circumstance, has wishes on how they would like their assets to be distributed after they die. The only way to ensure that these wishes are fulfilled when you die, is to make a Will. If you have a house, a car, money in savings, if you do not have a Will in place, then your assets, money in the bank, or the share of the property you own, may not be distributed as you would like. 

 

If you do not make a Will, your estate can be harder to deal with after you have died In fact, applications for Letters of Administration where people die without a Will, take longer than applications for Grant of Probate where people die with a Will, as of June 2023. This could cause your family additional stress, while they wait for the Probate Registry to deal with their application admist the backlog of thousands of other applications being made. 

Our Wills Solicitors in Preston would advise you to review your Will every year to ensure that it still reflects your wishes. That doesn't mean you need to make and pay for a new Will every year, but simply read through it and check your Will still reflects your wishes. If your wishes have changed you should consider making a new Will. In addition, the law changes, and you should consult Wills Solicitors in Preston every few years, just to ensure your Will is up-to-date, and takes advantage of all tax-free amounts that could be available on your estate after your death. 

 

You should especially consider making a new Will in the following changes of circumstances: 

 

After your loved one has died, their estate may be required to go to Probate, before you can administer it. Probate is the legal process of getting legal authority from the Probate Registry to deal with an estate. Many organisations, such as banks and building societies, will require sight of the Grant of Probate, before they will release funds to the executors of an estate. Our Preston Probate Solicitors tend to find that many high street banks will request Probate over £15,000, although some do have lower and higher thresholds than this. If your loved one had a property, our Probate Solicitors in Preston would advise that Probate will need to be obtained to satisfy the Land Registry's requirements. Applying for Probate can be a stressful experience, especially when you are grieving the loss of your loved one. That's why many executors instruct our expert Probate Solicitors in Preston to assist with the process. All of our services can be offered on a fixed-fee basis; simply speak to our Preston Probate Solicitors to find out more. 

 

To discuss an application for Probate, contact our Probate Solicitors in Preston today on Preston 01772 783 314 or contact us online, here. Prefer email? Our Preston Probate Solicitors can be contacted on wills@mglegal.co.uk.