Storing your Will
Whether you make a Will or not, most Estates have to go through Probate to ensure the Estate passes to the intended people and any Tax due is identified. We have found through experience most non-professional Executors are not sure how to deal with Probate after a Client has passed away and in most cases they seek help from their Solicitor or Bank.
The costs involved in dealing with Probate quite apart from the Court Fee will depend on who does the work. Typically a Solicitor would charge an hourly fee plus a percentage of the Assets, whilst a Bank would charge up to 5% of the value of the Assets for dealing with a simple Estate.
All Clients who subscribe to the WDS Associates storage facility have access to our Free Probate and Administration Advice Service. We advise Executors how to deal with an Estate and explain their legal obligations without the need to appoint a Solicitor or Bank.
If required, we can complete all applications, write all necessary letters, arrange to settle all debts and prepare a full set of Probate Accounts on behalf of the Executors. This valuable service is available to all subscribing members for a nominal fee.
Changing your Will
The Will you eventually leave is often very different from the one you first prepared. Experience has shown that people would like to change their Wills as often as 7-10 times during their lifetime.
Some of the reasons include:
* If you marry after the date of your Will, this will revoke your Will.
* If you divorce, change your name, address or anyone in your Will changes theirs.
* If an Executor dies or becomes unsuitable to act due to age, ill health etc.
* If a Beneficiary dies.
* If you have specifically bequeathed any property that you subsequently sell, or which changes its nature.
* If you effect or cancel any Life Assurance Policy.
* If you have additional children.
* If you move and you have Severed your Tenancy, you need to ensure your Solicitor arranges your new property as Tenants in Common. (50/50).
* You may wish to change your Executors, Guardians or Beneficiaries.
* As you get older you may wish to include Gifts to Grandchildren, Charities or lifelong friends who have shown kindness or assistance.
If you wish at any time to ALTER or REVOKE your will, you should consult WDS Associates so that the legal formalities can be observed, otherwise your wishes may not take effect.
Because most Solicitors and Banks charge every time you need to amend your Will, it is often left in its original state and your final wishes remain unknown and not carried out.
WDS Associates Subscribing Clients are entitled to change the existing contents of their Wills as often as they need without incurring a charge, ensuring our Clients leave a Will which is up to date and reflects their current wishes.
However you need to be aware that certain special clauses, if inserted, will incur a further one-off surcharge if not already paid for when the original Will was prepared.
It is imperative that once the Will is complete it is stored in a safe place. Most Banks and Solicitors provide safe storage facilities for Client's documents. Subscription to WDS Associates also includes safe storage and Insurance for all your documents and Deeds.
Levels of Benefits
* Level 1 - This allows clients to store important documents such as Deeds, Wills, Birth Certificates etc. Also Clients receive a guaranteed Probate rate of 4% if WDS Associates is chosen to Administrate the Estate.
* Level 2 - As level 1 but also includes free alterations to any documents that we originally prepared for you (subject to those original arrangements made), free advice to your acting Executors in the event of a Death at a time when most needed, Discounts on all our other services. Also Clients receive a guaranteed Probate rate of 3% if WDS Associates is chosen to Administrate the Estate.
* Level 3 - As level 1 & 2 but also includes free home visits for alterations and Probate assistance, and as well as giving your Executors free advice on the Administration of a Clients Estate, we will provide free advice on the Administration of any Estate. Also Clients receive a guaranteed Probate rate of 2% if WDS Associates is chosen to Administrate the Estate.
* Level 4 - As levels 1, 2 & 3 but also includes WDS Associates handling the Estate on your Executors behalf, dealing with all paperwork, attending the Probate Office interview presenting all information and accounts, and completely administering the process from start to finish, all for a guaranteed rate of just 1%.
And as well as giving your Executors free advice on Probate we will act on their behalf to contact Financial Institutions and deal with all the paperwork required etc. Clients can upgrade or downgrade at any time without penalty at a cost of £10 either way. If you wish to take advantage of this service please tell your Consultant or call WDS Associates on 0800 056 2015.
Peace Of Mind
Our Company has been established many years, and we have prepared over 100,000 documents, but some people may still be concerned about what would happen to their Wills and Services paid for if we ever ceased trading.
Although we are well established and confident this will not happen - for your peace of mind we are members of several professional bodies who, if anything happened to our Company, would take over all the Wills we are looking after, and honour any commitment we have made to you - including guaranteed special rates for Administering your Estate - for no additional fee.
This is another additional level of guarantee for your peace of mind, knowing that by chosing one of our secure storage options, not only will you be saving money, your Will is as safe as possible.