Personal Matters
Wills, Probate & Trusts
Putting the affairs of you and your family in order.
Plain English!
Your will is one of the most important documents you will ever sign. It tells those you leave behind what you want to happen to your money and property following your death.
Making a will enables you to fulfil your own wishes rather than the Government's.
Get it right - contact one of the Robinsons team for more help and information on any of the topics here.
FAQs - please see our Terms
1) Who carries out your wishes after your death?
The people who are responsible for dealing with your estate in accordance with your will are called Executors. They have a legal duty to:
- value all your assets and identify your debts
- apply, if necessary, for the Grant of Probate, which gives them authority to act
- consider any claims against your estate
- settle your income tax affairs
- pay any tax, debts and specific gifts in your will including death duties and trusts
- distribute the Residuary Estate to those entitled under your will
- establish guardians where children are involved
It is vital that the Executors you choose are trustworthy and capable of taking on what is sometimes a quite difficult task.
2) What happens to my minor children?
If you are married the situation is simple - the surviving parent will continue to look after the children.
What happens if you die together or if you are a single parent?
If you are the person with parental responsibility you are entitled to appoint a guardian in your will. If a guardian has not been appointed then the Courts will make that decision for you.
3) Will my estate be taxed?
The first £325,000* of every estate is free of Inheritance Tax (“death duties”). Any amount over £325,000 is taxed at 40%. There are ways of reducing Inheritance Tax. Certain exemptions and reliefs are available, and you can gift money without having to pay tax.
* with effect from 6 April 2009
4) What happens if I do not make a will?
If you die without making a will you die Intestate. On Intestacy the law sets out who will be entitled to your estate. Generally the order of entitlement is as follows:
- surviving spouse/civil partner
- children
- parents
- other relatives in a specified order.
However, your surviving spouse or civil partner will not necessarily get the whole of your estate. If the estate is over a certain amount and you have children, your children will also be entitled to a share.
5) Can my ex-spouse claim against my estate?
If you have been divorced and die Intestate, your ex-spouse will not be automatically entitled to share in your estate, but may be one of the class of persons entitled to make a claim against your estate. If you are separated at the date of your death and you have no will, your estranged spouse would be entitled to your estate in accordance with the Intestacy rules shown above. Clearly you must make a will if separated or divorced.
6) What if I get married?
If you already have a will and then marry, the marriage automatically invalidates your will, unless it was specifically made in contemplation of that marriage.
Estate - This means all of your assets, including all money and personal possessions and property
Personal Representatives - The person(s) who will deal with the administration of your estate. If there is a will they are called Executors. - If there is no will they are called administrators.
Grant of Probate - The official document issued by the Probate Registry which shows that the Executors are entitled to deal with your estate.
Residuary Estate - This is what is left of your estate after payment of all debts and specific gifts.
Parental responsibility - The person who is responsible for an under-age child. When the parents of a child are married to each other, they have joint parental responsibility. On divorce, parental responsibility is sometimes given to one of the parents by the Court.
Intestate/Intestacy - The term used when somebody dies without leaving a will.
