Want to know more about Wills and Probate?
Mark Cook Solicitors, a progressive and friendly new law firm serving Sunderland and the North-East, are here to help with Wills & Probate and Inheritance Tax (formerly known as Death Duties).
It is said that the only things certain in life are death and taxes. If you make a Will, it is one way of dealing with both of these certainties.
When someone dies without making a Will, they die ‘intestate’. In this case their ‘estate’ – their money, possessions and property - will be divided up according to certain rules laid down by law. These rules are complex and may not necessarily reflect your own wishes as to what should happen to your estate when you die.
So, what is a Will? A Will is a legally binding document, signed by you and formally witnessed, stating how you wish your estate to be divided up. It can be revoked or amended at as your circumstances change, and therefore should always be kept under review.
In your Will you can also state whether you want to be buried or cremated, and who you wish to act as executor, the person appointed to wind up the estate and carry out the terms of the Will.
When someone dies the executor must apply for Probate. This means going through a process in order to be awarded a Grant Of Representation, which is a document legally entitling the executor to dispose of the estate in accordance with the wishes stipulated in the Will.
They must also take into account whether the estate is liable to Inheritance Tax. This can be complicated, so if you are not sure it is best to get professional help from the experts. This is where Mark Cook Solicitors can help.
For an estimate of costs or to arrange a free no-obligation consultation, why not call 0191 567 7244, or email us at mark@cooklaw.co.uk
We also deal with Conveyancing, Commercial Property, Personal Injury Compensation, and Home Information Packs.