What is the Importance of Parents having a Will?
At MyBump2Baby we understand the importance of parents having a Will. Today Gordon Lennox, a specialist private client solicitor from Scullion LAW– our trusted family law solicitors in Glasgow – answers all your questions about Wills. Scullion LAW currently have an offer of a free will for parents, in Scotland, until the end of July 2021. You can book in here https://scullionlawappointment.as.me/schedule.php
What is the importance of parents having a Will?
It is vitally important that everyone has a Will but especially if you are a parent. A Will is the only way to ensure that your estate is distributed as you want and that your children are cared for in the way you would wish if you were to pass away. It is especially important in today’s society where we see more unmarried parents and blended families. Without a Will in place your family may not be protected in the way you might expect.
Is it worth having a Will even if parents have nothing to leave?
It is always worth having a Will as a parent, even if you have nothing to leave. Your Will is your opportunity to express how you would wish your children to be cared for if you were to pass away. This can include appointing a specific guardian or guardians to care for your children.
What would happen to a child if both parents died without a Will?
If both parents of a child die without a Will then the Court could become responsible for determining what happens to the child. This can be very distressing for the bereaved child as they may end up in the care of social services while the Court decides who should be appointed as their guardian. Additionally, the guardian that the Court appoints may not be who the parents would have chosen to care for their children. So, having a valid Will allows you to appoint guardians. This will ensure your child/ children are cared for by those you love and trust the most.
What happens if one parent dies and we are not married and I have children to someone else that is no longer in my child’s life?
In Scotland there are Legal Rights that can have a very significant impact on how your estate would be distributed. If you were to pass away and not be married to your partner then they would not be entitled to inherit from your estate. Without a Will, your estate would pass equally among all of your children under Scotland’s intestacy laws. This includes children from whom you may be estranged.
What should I consider when making my Will?
There are a few important things to consider when making your Will. Firstly, you will have to appoint your executor(s). This is the person or people that will be responsible for carrying out the instructions given in your Will. Your executor can be anybody over the age of 16 who has full mental capacity. Scullion LAW can be your executor if you wish (Scotland only). You will also need to decide who you want to be a beneficiary of your estate, that being a person who will inherit / benefit something from you. Your beneficiaries can be a relative or a friend, or even a charity or organisation. Your executor can also be a beneficiary of your estate. It is beneficial to have a good understanding of your assets as it can be very important to know the extent of your estate when making a Will. If you have children, you should also think about what you would want to happen in the event that both of your child’s parents pass away. Who would you appoint as a guardian to care for your children, and how you would wish for your assets to be managed for your children until the reach they age that they will inherit your estate. Your Will is also an opportunity to give your executors your instructions in respect of your funeral arrangements, for example if you would prefer to be buried or cremated. Further specifics can be added into a letter of wishes.
We haven’t finished our family yet and want more children. Can you future proof a Will?
Yes, your Will can be drafted in such a way that it will provide for any future children or grandchildren you may have.
Where do I store my Will?
Your Will would be stored in our fireproof deeds safe, and a copy would be made and sent to you for your own records. It is a good idea to keep your copy Will with your other important documents. It is also helpful to let your chosen executor know that you have made a Will in which they are appointed executor and that the principal Will is stored with us.
Summary About Wills.
From Nicola Bunchanan – Family Solicitor at Scullion LAW.
By making a will you control what is to happen to your estate after you pass. You can make provision for loved ones by way of providing them with funds, assets or the right to stay in a house. This may provide you with a sense of peace.
Unfortunately, we as solicitors see the consequences of not making a will. If you do not do so then your estate passes according to the terms of the Succession (Scotland) Acts 1964 and 2016. These Acts set out how the deceased person’s estate will be distributed if you die without leaving a will. This very much depends upon if you have existing children, spouses or partners, siblings or parents. The provisions are complex and so may be costly if solicitors require to be instructed to resolve competing rights of beneficiaries.
It is also equally important to review the terms of any will which you have made when you separate from your spouse or partner as you may wish to change the provisions to leave your estate to others.
Making a will is very simple. We have an excellent wills team here at Scullion Law and this month are offering a free will to all over 18 years of age in connection with Marie Curie.
Our award winning Private Client solicitors are on hand to help. Please contact Gordon Lennox WS or Emma Wright on 0141 374 2121 or email [email protected] or book and appointment online here: https://scullionlawappointment.as.me/schedule.php
We look forward to being of further assistance to you in the future. We are your LAW FIRM FOR LIFE.
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Gordon is DIrector at Macdonald Henderson- Macdonald Henderson is a niche commercial law firm based in Glasgow.
Macdonald Henderson confidently flies the flag for Scotland’s SME owner managers and entrepreneurs.
The firm boasts expertise in corporate, commercial property, corporate recovery, commercial dispute resolution, intellectual property, employment and private client areas of practice.
He studied his degree at the University of Strathclyde and he is a member of the Law Society of Scotland.