Wills and Estate Administration

With years of experience and an in depth understanding of Estate Planning and Estate Administration, we are dedicated to executing your final wishes. At DTM Legal, our team specialises in advising on the preparation of Wills and the different Will options available.

Our Estate Administration legal services cater for the needs of individuals, business owners, farming clients and high-net-worth individuals. Our team offers comprehensive guidance and support through every step of the Wills and Estate Administration process, giving you peace of mind and security for your loved ones.

CONTACT US

Understanding Wills

Wills are crucial to ensure that your wishes are honoured and your loved ones are provided for after your death. They help avoid legal disputes, reduce stress for your family, and ensure a smooth transfer of your assets to your intended beneficiaries.

What is a Will? A Will is a legal document that confirms who will administer your estate, look after your children if they are under the age of 18 at your death and confirms who will inherit your assets when all debts and costs have been discharged.

Creating a Will

Creating a Will involves several steps:

Assessment: Determine the assets you possess and their value.
Beneficiaries: Confirm who are potential beneficiaries and decide who you wish to inherit your assets.
Executors: Choose up to a maximum of four people you trust to administer your estate.
Guardians: If applicable, nominate guardians for your minor children.
Drafting: Preparation of the draft Will for your approval, professional assistance is always recommended to ensure all legal requirements are met.
Signing: Sign the Will in the presence of two independent witnesses who are over the age of 18 of sound mind and not Executors or Beneficiaries of your Will.

Using a Solicitor seeks to ensure that your Will is legally correct, accurately reflects your wishes and is less likely to be contested. Solicitors can provide expert advice and help navigate more complicated legal issues.

Can I Update or Change My Will Once It Is Created?

Yes, you can update or change your Will at any time. It’s recommended to review your Will regularly and make changes to reflect life events like marriage, divorce, births, or significant financial changes.

What Happens If I Don’t Have a Will?

If you die without a Will (intestate), your estate will be distributed according to the rules of intestacy, which may not align with your wishes. This can lead to family disputes and potential financial hardship for your loved ones.

Types of Wills

The right Will for you depends on your personal circumstances, estate complexity, and specific wishes. Consulting with a Solicitor can help you make an informed decision.

Straight forward Will: Suitable for straight forward estates.
Trust Will: There are different types of Wills which include trusts to seek to protect assets and can assist in generational Estate Planning.
Mirror Wills: Popular with married couples or long-term partners who want Wills which are in vice versa terms.

Executor of a Will

It is important that your Executor is someone trustworthy, organised and capable of handling financial matters. It is sensible to discuss the role with them beforehand to ensure they are willing to act as your Executor.

Executors are legally obligated to act in the best interest of the estate and can be held personally to account if the estate is not administered within a reasonable time frame and correctly.

What is Estate Administration?

Estate Administration is the legal process through which a deceased person’s Will (if any) is ‘proved’ by the Probate Registry, or where there is no Will he correct person or persons are appointed to administer the estate.

The Estate Administration includes identifying and inventorying the deceased’s assets and liabilities, paying debts and taxes, and distributing the remaining assets to the intended or rightful beneficiaries.

The Estate Administration process can take several months to over a year, depending on the estate’s complexity and any potential disputes.

Costs can include Probate Registry fees, legal fees, and costs for professional valuations and other services. These vary based on the estate’s size and complexity. For a more detailed breakdown of costs and the steps involved visit our Estate Administration page.

Estate Administration Fees

Speak to a Specialist Solicitor

For further guidance on creating a Will or dealing with the Estate Administration process, contact our legal team at DTM Legal. Contact Heather Lally, our dedicated Trusts and Estates specialist, on 01244 354822 or via email at heather.lally@dtmlegal.com.

With offices in Chester and Liverpool, DTM Legal has a national reputation for excellence. We act as a trusted partner to our clients, providing legal excellence and outstanding service.