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Wincham Executor & Trustee Company Limited

Professional, Effective and Affordable Wills

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Call Us Now

+44 (0)3333 441 176

Email Us

wills@wincham.com

What is the difference between Wills and Probate?

Most people want to bestow their wealth upon whom they please, usually making provision for their loved ones, which is why they make a Will.

A Will is a binding testamentary document (one that creates, removes or transfers a right to, or interest in, an asset or property) that enables a testator (the person who has made the will) to dispose of their estate (their assets and property) to the beneficiaries they choose.

Put simply, it is the formal document that sets out what you want to happen to your possessions and property after death.

Because it is a legal document, a Will is binding, and the appointed executors have no choice but to follow it. Of course, it can only come into effect after the death of the testator and it can always be revoked up to that point.

If you die intestate – which means without a valid Will – then the law has control over your assets. Your property and possessions are distributed according to the rules of intestacy – which of course may mean that they are distributed just as they would have been had you made a Will. Often, however, there are differences. People may want to leave money to charity, to individuals outside their family, or even to exclude certain people from inheriting at all.

If your Will is valid, but does not account for your entire estate (known as partial intestacy), the unaccounted for assets are distributed according to the rules of intestacy which can create a long, difficult process. If an individual dies intestate and has no family, then their estate goes automatically to the Crown.

Probate is different from a Will. It is the legal process that is gone through to deal with someone’s estate after their death and is necessary for around 50% of deaths in the UK. When applying for probate, the executors apply to the government to receive a document – the ‘Grant of Probate’ – which allows them access to the deceased’s estate so that they can collect the assets and distribute them to the beneficiaries. So, technically, probate isn’t the actual carrying out of the tasks that need to be completed after someone has died, it just refers to obtaining the Grant so that the tasks can be carried out.

Applying for probate may still have to happen whether there is a Will or not. If the estate is valued at less than £10,000 or the deceased’s assets are jointly owned, probate is less likely to be required.

 

Email Us

wills@wincham.com

Call Us Now

+44 (0)3333 441 176

Wills and Probate

It is always advisable to review your Will at least every 5 years.

Even though you may already have a Will, you should consider whether or not your personal circumstances have changed or whether any subsequent change in the law has affected the validity of your Will or the granting of Probate.

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UK Will Writing Service

An Individual Will is prepared for a single person or for spouses/partners who have different terms under their respective Wills.

A Mirror Will is actually two Wills prepared for spouses or partners who wish for identical but reciprocal terms such as leaving their assets to each other.

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Lasting Power of Attorney

An LPA is a legal document giving trusted individuals the authority to make decisions on your behalf if you become unable to make them yourself.

The document is drawn up when you are able to make decisions and, once registered, becomes effective immediately and can be used at any time.

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Spanish Wills

If you think that you require a Spanish Will, it’s worth noting that all of your affairs can be dealt with in the UK with a UK Will.

Remember that a UK Will can be altered in the future if circumstances change and can be drafted to revoke all previous Wills ‘in any location’, giving you the flexibility you need.

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Make An Enquiry

Address: Wincham Executor & Trustee Company Limited
Wincham House
Greenfield Farm Trading Estate
Congleton
Cheshire, England
CW12 4TR
Phone: +44 (0)3333 441 176
Email: wills@wincham.com

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