Are you looking for people to write your will in the UK? Actually, there may be several types of individuals who could help you out with this. Of course, the most qualified people to write your will would definitely be solicitors who specialize in UK executry law by a long-shot. This is because these types of solicitors actually specialize in executry law, the very law that deals with last wills and testaments, powers of attorney, estates, and trusts.
Therefore, if you are looking for people to write your will, then you should definitely be searching for a qualified UK executry solicitor.
People to write your will Confirmation
When a person dies, he/she either dies intestate (without a will) or testate (with a will). In case a person dies testate, then the will shall not only contain the list of beneficiaries (people and entities who will benefit from the estate of the deceased) but also the executor or list of executors. The executors are the people charged with the settlement of the estate of the deceased. They see to it that the estate is properly disposed of as laid out in the will.
Specific to Scotland, in order for an estate to be administered under Scots law, confirmation must first be obtained through a written application to the Sherriff Court. This is the authority given by the courts to the executors to administer the estate of the deceased.
Probate Outside of Scotland, the executors, in case the executor died testate, must apply for a grant of probate. This is the authority granted by the Probate Registry for the executors to gather together the assets or estate of the deceased and dispose of it in accordance with the will. It grants the same rights as a confirmation in order to allow the executors to access certain properties, such as those held in trust by banks and financial institutions.
Letters of Administration
In case the deceased died without leaving a will, those who wish to settle the estate of the deceased may apply for a grant of letters of administration – which confers the same authority as a grant of probate.
The Inheritance Tax
Even beyond the grave, there are still some obligations that the estate has to the state. This is why the executor in a will is also tasked with paying off all the debtors and creditors of the deceased in as much as the estate allows and beyond that, there is still the UK inheritance tax to be paid off if applicable. The inheritance tax is subject to certain
exemptions, however – such as donations made to charity and gifts made by the deceased while still living (subject to exceptions). Furthermore, any items of the estate that pass from the deceased to his/her spouse is not subject to inheritance tax.
The UK has what is known as an inheritance tax threshold (IHT) of £325,000 per person and this amount is doubled to £650,000 for married couples. Any amount beyond this limit is subject to an inheritance tax rate of 40%.