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In the United Kingdom, including Manchester, a Will & Testament, also simply known as a will, is a legally binding document that stipulates how an individual's assets and estate will be distributed after their death. The legal regulations around wills in the UK are governed by the Wills Act of 1837, with some subsequent amendments and related legislations. These regulations define eligibility to make a will, the process for making a will, as well as processes around interpreting and executing wills.
Engaging a lawyer in the process of making a will ensures that you draft a document that's legally sound. A lawyer can guide you to make informed decisions about your estate and asset distribution. Additionally, if you are a beneficiary named in a will, or if you wish to contest a will, or if you're an executor faced with complex estate proceedings, a lawyer can provide indispensable advice and guidance.
In Manchester, as with the wider UK, to make a valid will, an individual should be at least 18 years of age and of sound mind. The will must be voluntarily written without any undue pressure, signed by the individual in the presence of two witnesses, who must also sign the document. It is also recommended to name an executor in the will--the person responsible for executing the wishes as per the will after the individual’s death. The inheritance tax, probate process, and the repercussions of dying without a valid will (dying intestate) are also important legal considerations.
If an individual dies without a valid will, they are considered to have died 'intestate'. In this case, their estate will be distributed according to the laws of intestacy, where priority is given to spouses, children, and then other blood relatives.
Yes, you can update or change your will after it is written. This is commonly done through a document called a codicil, which needs to be witnessed and signed just like the original will. In some cases, redrafting the entire will might be recommended.
To contest a will, it typically needs to be done within six months of the grant of probate. Grounds for contesting can include lack of valid execution, lack of capacity, undue influence, or fraud. Legal advice is strongly recommended if you wish to contest a will.
An executor should ideally be someone you trust and who is capable of managing legal and financial matters. This can be a family member, a trusted friend, or a legal professional.
Inheritance tax applies if the value of the estate exceeds £325,000. The rate is generally 40% on anything above the threshold. This rate may be reduced if more than 10% of the estate is left to charity.
A number of resources are available for your assistance. The Citizens Advice Bureau provides guidance on writing a will, and probate matters. The UK government website hosts a lot of general advice, information, and relevant forms on wills, probate, and inheritance tax. Legal firms and advisors in Manchester can provide direct and personalized assistance.
If you need legal assistance with your will and testament in Manchester, begin by seeking a reliable solicitor or law firm specializing in wills and probate law. A legal professional can provide the necessary advice and guidance to navigate this complex process, ensuring your will and testament is legally binding and meets all your wishes and requirements.
