How would you feel if after you died all your money, property and possessions were given to the Crown? This is what would happen if you died without a valid Will and either you have no kin, or your living kin cannot be traced. It is known as Bona Vacantia.
Bona vacantia is the name given to ownerless property which by law passes to the Crown. The Crown is not only the Royal Family. The Crown consists of both the Monarch and the Government. If you die without a valid Will and without known or traceable relatives, your money, property and possessions will be collected by the Treasury and passed to the Crown.
We cannot predict the circumstances and time of when we die. Making a Will is something which you should never put off to another day. It is the best way to protect your family and loved ones from a multitude of problems.
A valid Will prepared by a professional Solicitor can:
Inheritance Tax is charged at 40% of your net estate above the £325,000 threshold.
Inheritance tax is due for payment within 6 months from the end of the month in which you die. If there is not enough cash to pay the Inheritance Tax bill, the family home may have to be sold to pay the Inheritance Tax. To pay by the inheritance tax deadline, your family might end up having to sell the family home for less than it is worth.
Prices for a Will start at £500 plus Vat. We can provide you with a quote to suit your needs.
If you have a specific matter which you would like us to deal with, do let us know.
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These are some of the Wills, Probate, Administration and Estate Planning Legal Services which we provide:
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