Wills and Probate
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The importance of having a valid Will in the UK:
A Will eases probate proceedings in the UK. Without a valid Will, the distribution of assets takes longer, is more complex and costs more in terms of spending on qualified professionals.
Without determinations within a Will, assets are distributed as provided by law, often not in the manner desired by the deceased. It is noted that distributions in the United Kingdom are made in a very different way from Brazil and for that we recommend reading Probate in the United Kingdom.
The Will must take into account the existence of other Wills outside the United Kingdom. If it is not well written in this sense, it can revoke a Will existing outside the United Kingdom, having the opposite effect to the testator's original will.
Inheritance tax in the UK is 40% (for wealth above a certain threshold). The Will allows for succession planning in order to often reduce the tax that would be applicable.
The Will is important for people with minor children or financial dependents. In this way, a guardian is appointed and institutes can be created to ensure that they are properly protected.
In case of the death of the parents and in the absence of a duly appointed guardian, it is up to the responsible court to verify the circumstances and appoint the best person as guardian. Until such a decision is taken, it may be determined that minors are in foster care. This procedure is even more complex if it involves guardians living abroad.
A sideways disinherintance can be avoided, in which, commonly and unintentionally, the couple's children do not receive inheritance from their parents, due to the surviving father's remarriage.
With due care, a simple Will can be done directly by the testator, without the need for it to be drawn up by a professional. However, it is preferable to have an executor or a personal representative to help. Fill in your details here:
For more complex cases, including the existence of real estate, life insurance, future receipt of inheritances, cohabitation and common-law marriages, divorce, among others, is of fundamental importance to discuss your specific circumstances with a qualified professional. We are available for CONSULTATION.