Will Writing Services in Edinburgh & The Lothians
Protect Your Loved Ones: Specialist Will Writing Services
No one likes to think about dying, which is why making a Will can be such an emotive subject—something we know we should do but don’t always follow through.
The reality is that even if you don’t believe you have very much to pass on, making a Will is the only way to ensure that your wishes will be fully met after you die. If that’s not motivation enough, a Will also ensures that your family are free from the added stressful burden of sorting out your affairs and having your estate distributed in accordance with complex Scottish rules of intestacy.
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Why Is a Will Essential?
- Ensure Your Wishes Are Met: A properly drafted Will is the only way to dictate exactly how your assets, possessions, and money (the estate) are to be distributed after your death, avoiding rigid statutory rules.
- Relieve Family Stress: Dying without a Will (known as intestacy) can lead to a lengthy, expensive, and complicated legal procedure for those you leave behind. A Will simplifies the process of winding up the estate during a difficult time.
- Appoint Guardians: If you have dependent children, a Will allows you to formally indicate who you would wish to be appointed as their Guardians.
- Mitigate Tax Implications: While not the only factor, a professionally prepared Will can help structure your estate to ensure maximum assets are passed to your beneficiaries and to address potential Inheritance Tax liabilities (subject to specific advice).
Key Terminology and Points to Consider
We guide you through the process, ensuring your wishes are expressed clearly and legally. Here are the key elements we will discuss:
Your Executors act as the legal link between the deceased and the beneficiaries. We recommend nominating at least two Executors (e.g., your spouse/partner, another family member, or a professional advisor like your Solicitor) in case one dies before you. Careful thought is required: Being named as an Executor brings with it complicated and sometimes onerous duties. They are ultimately personally liable for any mistakes made during the course of winding up the estate. Their responsibilities include:
- Collecting and valuing all assets of the estate.
- Applying for the Grant of Confirmation (the Scottish equivalent of probate).
- Ensuring all debts, taxes (Inheritance Tax, income tax, etc.) are paid.
- Distributing the remainder of the estate in accordance with your Will.
Legacies are either cash amounts or specific items that you wish to pass on to named beneficiaries.
The Residue is what is left after all debts, funeral expenses, taxes, and legacies have been paid. This normally forms the largest part of your estate. We can advise on complex scenarios, such as:
- Dividing assets fairly when one or both partners have family from a previous relationship.
- Forming a Trust for young beneficiaries (typically up to an age you specify, such as 18 or 25), allowing the Executors/Trustees to invest and manage funds for their maintenance and education.
Your Will is the correct place to formally indicate who you would wish to be appointed as Guardians to your children should you die. The Trust funds referred to above would then help financially support their maintenance and education.
You can, if you wish, specify your funeral instructions in your Will. This is not essential if your family is fully aware of your wishes, but it is useful if you have specific religious or funeral service requirements, or if you have no close family.
The Risk of Dying Intestate (Without a Will)
Don’t Let the Law Decide for You: If you die without a Will, the law determines the scheme of division based on the closeness of your surviving family members to the deceased. This can often result in assets being distributed in a way that you would not have chosen.
Added Complications:
- Establishing an Executor: We have to establish who has the legal right to be appointed Executor (usually the main beneficiary, like a spouse).
- Bond of Caution: Where a family member who is not the spouse wants to be appointed Executor, the law may require an insurance policy called a Bond of Caution to be taken out, adding cost and complexity.