Wills

Current statistics show that more than half the population of Scotland have not made a Will. Some people do not believe they are wealthy enough, others think they are too young, and many people assume that their money will automatically pass on to the people they want it to go to. However, with the rapid increase in house prices meaning more estates may be liable to pay inheritance tax, evolving family structures and changing demographics, making a Will is more important than ever.

What if I don't have a Will?

If you do not leave a Will, your estate will be distributed according to the rules of intestate succession. It is not the case that your spouse or civil partner will automatically receive your entire estate, although they do have certain rights. Children also have rights, and the rules may well dictate that other family members, often unexpectedly, will inherit.

Who should make a Will?

Everyone! Whether they are young or old, married or single. Co-habitants are in a particularly vulnerable position. New legislation to protect co-habitants' rights is, as yet, untested and making a Will can provide certainty.

There are key times in anyone's life when you should consider making a Will or updating your current Will – for example, if you are co-habiting with someone, getting married or entering into a civil partnership, moving home, buying or selling a second home or reviewing your investments, if there are new members of your family whether children, step-children or grandchildren, if you separate or get divorced, or your family circumstances change.

Why make a Will?

• YOU decide what is to happen to your assets, rather than relying on the complex rules of intestacy.


• Leaving a Will takes away a lot of the uncertainty and stress for family members dealing with your estate. You can appoint someone trusted to be your executor.


• You can make sure that those you care about will be provided for – intestacy rules do not take account of step families, children's spouses/ civil partners/ cohabitants, or wider family or friends, or more complex family arrangements.


• Tax planning can be incorporated into your Will to minimise any inheritance tax payable.


• Trusts can be incorporated into your Will to protect your assets, whether for tax planning purposes or for young children


• You can leave instructions for charitable legacies, gifting specific items e.g. family heirlooms, specifying your wishes for guardians of young children, what is to happen to your pets, any funeral instructions you wish to leave.

How to write a Will

Contact one of our experts for help with writing a Will – everyone's family and financial circumstances are different, we will discuss your individual situation, the options available to you and how to make sure your wishes are carried out.

You may wish to print off and complete the Will questionnaire and send this in. One of our experts will then contact you to discuss this.