Estate planning allows you to put down in words what you want to happen after your death. It will be invaluable for those that you leave behind and make things much easier for them when they are sorting out your affairs. This will include letting them know where you have stored your Will so they have easy access to it in due course. Estate planning for someone with no family doesn’t have to be a complex affair. Your main considerations will be who you would like to be the executor of your Will and to whom you would like to leave your assets to. This could be friends or your favourite charity and just because you are either estranged from your family or have no family at all, it is still important to write a Will and consider estate planning. In this article, estate planning for someone with no family, we take a look at these issues in more depth and describe the mechanism involved.
Free Initial Telephone Discussion
For a free initial discussion on how we can help you plan your estate and create your Will, get in touch with us today. We are experienced in dealing with estate planning for people with no family and we will review your situation and discuss the options open to you in a clear and approachable manner. Early expert legal assistance can help ensure your final wishes are accurately recorded and also avoid the stress of dealing with these issues on your own. A well-constructed estate plan can provide you with peace of mind and also help those administering your estate. Simply call us on 0345 901 0445 or click here to make a free enquiry and a member of the team will get back to you.
What are the main points to consider?
- Who can be appointed as Executor of the Will if there are no family members to appoint?
An Executor of a Will can be anyone aged 18 or above. An Executor of a Will does not need to be a family member but needs to be someone you can trust and a person with the capacity to handle the responsibility. Your executor will be the person who will deal with all the implications of handling your estate when you die such as settling any outstanding debts and distributing assets. If you have no family members, a trusted friend or an appointed professional such as a solicitor can act as the executor of your estate.
- If you become unable to look after your affairs, who would do this on your behalf?
When someone makes a power of attorney, they appoint someone else to act on their behalf. The person making the power of attorney is called a donor and the person appointed to act on their behalf is called an attorney.
A power of attorney gives the attorney the legal authority to deal with third parties such as banks or the local council.
Some types of power of attorney also give the attorney the legal power to make a decision on behalf of someone else such as where they should live or whether they should see a doctor.
In order to make a power of attorney, you must be capable of making decisions for yourself. This is called having mental capacity.
There are three types of power of attorney. These are:
Careful consideration needs to be given if you choose to appoint a power of attorney to take care of your fairs if you are incapacitated in some way.
- What is an inheritance act clause?
The clause is inserted to show that you intentionally meant to exclude a person or persons from your will. If you are estranged from your family, it is something you need to be aware of. It is not legally binding but shows your intention to exclude that person(s). The act itself allows the court to vary the distribution of the estate. There is no definitive way to prevent a claim against the estate but there are steps that you may wish to consider when writing your Will including an expression of wishes which can explain why no provision or limited provision has been made for the particular individual. The benefit is that this is a statement from the person making the Will explaining how they have made that decision to exclude or limit someone’s entitlement.
Under the Inheritance Act, there are certain people who can make a claim against an estate:
A spouse or civil partner
A former spouse or civil partner
Cohabitee
Child of the deceased
Dependant of the deceased
Is there a recognised standard for writing a will?
In theory, you can write your will on the back of an envelope. However, as it is a legally binding document it must meet certain criteria. It needs to be witnessed and signed by two independent adults and dated. These witnesses cannot inherit anything from your will or benefit from your Will in any way (although they can act as executors). Your Will should also name your executors, who are authorised to gather in your assets and divide them up according to your instructions. This process is known as probate. As long as the executor is not a witness, they can be a beneficiary of the Will.
How we can help
We have a proven track record of helping clients plan their estates and draft their Wills. This includes relatively straightforward estates but also complex estates where assets are held all over the world. We will guide you through all the necessary legal due diligence in a comprehensive and timely manner. We firmly believe that with the right solicitors by your side, the entire process will seem more manageable and far less daunting.
How to Contact our Wills and Probate Solicitors
It is important for you to be well informed about the issues and possible implications of planning your estate and writing your Will, even if you have no family. However, expert legal support is crucial in terms of ensuring your final wishes are met as you would want them to be.
To speak to our Wills and Probate solicitors today, simply call us on 0345 901 0445, or click here to make a free enquiry. We are well known across the country and can assist wherever you are based. We also have offices based in Cheshire and London.
Disclaimer: This article provides general information only and does not constitute legal advice on any individual circumstances.
Leave a Reply
You must be logged in to post a comment.