Why Use an Estate Planning Lawyer to Make a Will?

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Some people don’t need to worry about making a will, such as young adults with no children or assets, just yet; however, a large proportion of people in the UK not only need to make a will but also need to consider estate planning lawyer if they have a number of valuable assets. 

Whether your estate is reasonably straightforward or more complex, such as an extensive property portfolio of assets in foreign countries, using an estate planning lawyer enables you to incorporate several aspects pertaining to your estate under one roof.

What is estate planning?

There are several aspects to estate planning, including making a will, which incorporates every aspect of planning who gets what, where, and when upon your death, as well as who makes decisions on your behalf, if required during your lifetime. Let’s look at the different aspects of estate planning:

What’s included in your will?

There are four forms of wills – simple, joint, living, and testamentary trust – which one you choose largely depends on your circumstances and your estate. Whilst there are also handwritten wills and oral wills, known as ‘nuncupative’ wills, let’s look at the four main types.

Before you carry out any estate planning or make a will, you will need to take an inventory of your assets. An estate planning lawyer will be able to help you with this task and review your assets to work out the most tax-efficient way in which to pass on your assets to your beneficiaries.

Your will needs to include:

However, there are some things that shouldn’t be included in your will, such as:

The more concise and accurate your estate planning and will be, the smoother the transition for your family and beneficiaries.

At Probates Online, we offer a professional probate service online that is efficient and affordable. If you are an Executor of a will or close relative of a deceased person, and you need to apply for a Grant of Probate or would like to take advantage of our entire Estate Administration service, visit our website for more information or contact us today.