One of the best ways to ensure clarity after someone dies is for them to leave a will. Creating this relatively simple legal document ensures that their estate is distributed according to their wishes and that their loved ones do not suffer due to strict, and often archaic, law. There are several common items that are usually included in a will although they can be highly customised with the help of a solicitors in Portsmouth.
Seeking legal help to construct a will is a sensible step for ensuring that the document is legally binding. There might also be some advice that a solicitors in Portsmouth, like Andrew & Andrew, can offer to help someone ensure that all their financial obligations are met after death without placing burden on their loved ones.
One of the first decisions that someone makes when they are creating a will is who will act as executors for the estate. These are the people who will be responsible for the winding up of any outstanding business on behalf of the deceased before distributing the proceeds and assets of the estate to anyone named in the will. Depending on the size and complexity of the estate, someone might choose an executor who has some expertise at managing such a task.
Division of funds, assets and so on
Particular financial provisions are often called ‘gifts’ when a will is written. These are usually one-off payments to certain friends, relatives or organisations. Occasionally, there may be ongoing payments from the estate, but this is rarer.
Assets may be bequeathed to certain people or there might be instructions to sell them and add the proceeds to the pot of monies for distribution.
There are lots of different ways that estates can be divided to provide for loved ones, children and other dependents. A solicitor in Portsmouth can advise on specific cases.
It is common for any particular funeral requests to be included in a will. This might be simple wishes regarding the ceremony or method of burial. It’s a good way for someone to ensure they get the send off they want without having to discuss it with relatives beforehand and potentially causing them distress.