Our Wills, Trusts & Executry lawyers are based in Tillicoultry. If you are in Clackmannanshire, Plean, Cowie, Alloa or the surrounding areas in Scotland, we can advise on all aspects of making a will.
Make a Will Today
A will is a document (usually just one document), under which your estate will be passed to a beneficiary or various beneficiaries according to the terms you specify in the will when you pass away. There are numerous benefits to be gained by making a will.
Wills & Executry Lawyers in Tillicoultry
Under Scots Law, provided you are over the age of 12, you can make a will. When drafted professionally, preferably by an expert solicitor, a valid will allows you to:-
- Decide the beneficiaries who will inherit your estate upon your death. This could include, for instance, your spouse or children.
- Appoint and give power to executors who will administer your estate
- Have assurance that your affairs are in order
- Take control of inheritance tax planning and other forms of tax planning. Paying attention to inheritance tax can potentially save your family thousands of pounds.
- Make other provisions such as funeral arrangements
What Happens if You Die Without a Will?
On the other hand, if you die without leaving a will, Scots Law provides certain rules under the law of succession which determine how your estate, including your money, property or other possessions should be distributed. This will most likely not be in the way in which you intended in the absence of a will.
Nevertheless, if you die without making a will, the rules of intestate succession provide that your children are entitled to one-third of your moveable estate if you left a spouse or civil partner. If you die unmarried or without a civil partner, your children are generally entitled to a half of your estate.
Living Wills in Scotland
A living will, otherwise known as an ‘advance medical directive’, does not have any ‘testamentary effect’, i.e. it does not affect your property, but instead is intended to be effective during your life. They are designed to allow you to provide for medical treatment options or preferred wishes should you become unconscious or unable to make your own decisions. In Scotland, the legal position of such living wills is not completely certain, although they are still persuasive in the event that you become unconscious or are unable to make your own decisions. For other options regarding incapacity, a power of attorney may be the best option. Our solicitors can advise you on the best option for you.