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07-April-2008

Be responsible – make a will!

Did you know…?

• 64% of adults in England Wales do not have a will which equates to 27.5 million adults.

• Of those who do have a will, only 3% are aged between 16 and 24 years, compared to 70% of those aged 65 or more (around 2 million people) and almost 20% of these wills were made or last updated over 15 years ago.

By making a will, you can decide what happens to your property and possessions after your death.  Although you do not have to make one by law, it is the best way to make sure your estate is passed on to family and friends exactly as you wish.  If you die without a will, your assets may be distributed according to the law rather than your own wishes.

Why is it important to make a will?

A will sets out who is to benefit from your property and possessions after your death.  There are many good reasons to make a will: -

• You can decide how your assets are shared – if you do not have a will, the law says who gets what.
• If you are an unmarried couple (whether or not it’s a same-sex relationship), you can make sure your partner is provided for.
• If you are divorced, you can decide whether to leave anything to your former partner.
• You can make sure you do not pay more Inheritance Tax than necessary.

Preparing your will: -

Although it is necessary to write a will by yourself, it is advisable to use a solicitor as there are various legal formalities you need to follow to make sure your Will is valid.  You may also need legal advice for more complicated matters.  A solicitor can also advise you about how Inheritance Tax affects you.

Before you proceed and write your will, it is a good idea to think about what you want included.  You should consider: -

• How much money and what property and possessions you have.
• Who you want to benefit from your will.
• Who you wish to appoint as guardians to look after any children under 18 years of age.
• Who you are going to appoint in your will as your Executor being the person who is responsible for sorting out your estate and carrying out your wishes after your death.

Once you have made your Will, it is important to keep it in a safe place and tell your Executor, close friends and relatives where it is.  If a solicitor makes your Will, they will normally keep the original and send you a copy.

Keeping your will up-to-date.

You should review your will every 5 years and after any major change in your life, such as getting married, separated or divorced, having a child or moving house, any change to your will must either be by writing either a codicil or by making a new will.

Making a will is one of the most responsible actions you can take and I would be happy to discuss your requirements in more detail, so please do not hesitate to contact me on: 0113 2973194.

ENDS

About Levi Solicitors LLP

Levi Solicitors was established in 1934 and has been part of the legal community in Leeds ever since. With offices in Leeds and Bradford Levi's is a multi-disciplinary practice and is recommended by the Legal 500 and Chamber Legal Directory.

Levi Solicitors is a multi -disciplinary and forward-thinking law firm and is recommended by the Legal 500.   With offices in Leeds and Bradford Levi Solicitors is a well respected local law firm that has operated in Leeds since opening in 1934 and has been a cornerstone of the Leeds and Yorkshire legal community ever since remaining wholly committed to the region. Our pre -eminence is endorsed by clients and market commentators alike who will testify that we provide a special balance of affordable, practical and legal advice in a responsive way.

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All media enquiries, please contact:
Sinead Sopala, Head of Marketing & Communications, Levi Solicitors LLP
Tel  | 0113 297 3198
Email  | ssopala@levisolicitors.co.uk

Disclaimer
This information is for guidance purposes only should not be regarded as a substitute for taking legal advice. Please refer to the full Terms and Conditions on our website.