The time when you should seriously consider finding a quality solicitor is when you need to write your will.
This is particularly the case when you have assets like an overseas holiday home, or you have a business and expect it will form part of your estate.
For the latter, it’s important because you’ll be liable to pay Inheritance Tax, which is levied on estates that are valued at over £325,000 for an individual or up to £650,000 for married couples.
Another scenario where finding a quality solicitor is paramount is when your family position is complicated. You may have children from a previous relationship, or perhaps you may want to make special arrangements for your children or another family member who suffers from a disability.
Before you go to a solicitor it’s advisable to consider what it is you want to leave and to whom you would like to leave it in your will. It will not only save you a lot of time but in doing so it will save a large amount of money.
There are many benefits of using a quality solicitor in Stourbridge. For a start, it means that you will be protected if anything untoward goes wrong. This is because solicitors are regulated.
When and if any problems arise, you can not only complain to the solicitor’s own firm. But if your solicitor’s firm doesn’t adequately deal with the complaint you make properly then it is open to you to take the matter to the Legal Ombudsman.
This gives you the peace of mind of being more confident there will be no mistakes. There are common problems associated with wills. These include the use of the wrong witnesses or forgetting to have the document signed. In both these situations, there is the danger that the will is not valid when you pass away. By using quality stourbridge solicitors you should be able to minimise the risk of untoward things like this occurring.
Another benefit of using a quality solicitor is that the complicated bits of wills are done for you. The law that surrounds inheritances (including the statutes about Inheritance Tax and trusts) are complicated. Solicitors are familiar with the appropriate law and, therefore, are able to assist you in making the most effective choices.
With a quality solicitor, you can rest assured that your will will be safely stored. When solicitors help clients write their wills, they will generally store the original in a fireproof safe and free of charge.
When you hire a quality solicitor, you should expect that he or she will explain the options open to you about making decisions about your will. Solicitors should also give advice in confidence and make sure your best interests are dealt with first.
They will also write and check your will in line with the instructions you give, while at an early stage providing you with a clear indication of any costs and how these will be calculated.
When it comes to quality solicitors acting as executors, you make the choice. If you do appoint your solicitor as executor he or she will handle all the arrangements for your estate when you pass away.