Legal News | 1.12.22

What are you Willing to do this Christmas?

We started your Christmas list last week and now it’s time to add another task.

As a regular reader we’re sure you have a valid, up to date Will in place (although if that’s not the case please get in touch). However, with Christmas drinks’ parties and gatherings on the agenda, have you spread the word about how important it is for everyone to have a Will in place?

Not only does a Will give you the opportunity to set out who you want to inherit your estate, it can save a lot of time after your death.

For many estates, a Grant of Representation will be needed in order to deal with a deceased’s assets, for example selling a home or investments. If you leave a valid Will then your chosen executors will apply for a Grant of Probate.

If someone doesn’t leave a valid Will, and dies intestate, then it is a ‘Grant of Letters of Administration’ that is needed. It’s not the terminology that’s important however, it’s the timescales.

An online application for a Grant of Probate is currently estimated to take up to 16 weeks.

However, submissions for Grants of Letters of Administration often need to be paper-based as the online option won’t be available (other than in the most basic cases). In cases requiring a paper application, Grants are taking 6 months.

That is 6 months from the date of submission, during which time your loved ones cannot deal with your estate. That is a very long time to have their hands tied, when a Will can be prepared in such a short amount of time.

So, as well as spreading the Christmas joy this December, spread the word of the importance of getting a valid Will in place.

If you would like to discuss making a Will, please get in touch with your usual contact at Wansbroughs or email wealth@wansbroughs.com.