Wills, Trusts and Executries
Did you know that over the past 5 years almost 750 Scots who died without leaving a Will contributed almost £5m to the government! In this age of extended families, Rollos qualified Solicitors will draw up a Will for you to ensure that your wishes are carried out.
Did you know:
- If you die without leaving a Will you have no control over the distribution of your estate.
- Under the Laws of Intestacy stepchildren are not considered if you die without leaving a Will.
- If you are cohabiting, your partner would only have limited time to claim a prior right share of your estate.
- Although under Scots Law children can claim a legal right share of your estate, this can be limited to the legal minimum if you have a Will in place.
- If you die intestate, and no relatives can be traced, your estate becomes the property of the state!
A Trust, quite simply, is the transfer of assets, e.g. property, shares or cash to a group of people (Trustees) with instructions that they hold the assets for the benefit of others. Trusts can be created during lifetime or on death. Trusts can be useful in getting assets out of someone’s estate during their life in order to minimise inheritance tax. Trusts can also be used to preserve and manage assets for under age or incapable beneficiaries. Expert advice is available from us.
The prospect of trying to deal with the affairs of a recently departed loved one can be daunting; most people will have had no previous experience, and trying to sort through the effects of the deceased and wind up their estate can be stressful and time consuming at a time when you have so much on your mind.
- Where do you start?
- How do you register the death and arrange the funeral?
- Is there a Will?
- What assets does the deceased have and what do you do about them?
- What about utility and other bills?
We can relieve you of the burden and have the experience to quickly and sympathetically administer the estate.