Wills and Probate Solicitors in York and Easingwold: Wills, Probate and Trusts

Wills

Life is full of twists and turns and none of us can be sure what the future holds. By making a Will, you take away some of that uncertainty. Making a Will is not simply for the elderly or ill but is sound financial planning for any family or individual.

A Will can be very traditional without complexities, simply passing limited assets from one person to another or it may be more complex and involve such issues as passing a home to children or grandchildren whilst allowing the surviving spouse to remain in the property for the rest of their life. It very much depends on the circumstances of each individual and our lawyers can identify what issues you may want to consider and how these can be catered for in your Will.

Trusts

A Trust is a way of managing assets for people. It is a relationship whereby property is held independently for the benefit of another or others.

A Trust is created by a Settlor, who transfers property and or assets to another person known as a Trustee. The Trustee holds that property in the Trust for the beneficiaries; those people who will have the benefit of the asset.

Trusts are mainly used for:

- controlling and protecting family assets;

- to look after the affairs of those who are too young to manage their affairs themselves;

- to look after the affairs of those who do not have the capacity to manage their affairs themselves;

- passing assets to another during your lifetime;

- passing on assets after your death;

- passing on assets when someone has died without making a Will.

It may be that you want to set up a Trust to cater for your family as opposed to giving them a lump sum of money. Trusts can be complex in their nature and therefore seeking the advice of a Solicitor who can explain the different Trust mechanisms which are available is important.

Probate

When someone has died, either with or without a Will, their assets will have to pass to another person. It may be that their assets pass under a Will and in accordance with the Deceased’s wishes or via a Trust set up by them. If the Deceased did not leave a Will then the assets will pass in accordance with the ‘Intestacy Rules’.

In order for assets to be collected in and distributed either in accordance with a Will or in accordance with the ‘Intestacy Rules’, a legal document will have to be obtained which gives someone the legal authority to deal with the Administration of the Estate and distribute the assets.

If a Will was made, a ‘Grant of Probate’ will have to be sought. However, if a person has died without making a Will then a ‘Grant of Letters of Administration’ will have to be obtained, to allow them to complete the Administration of the Deceased’s Estate.

If you’d like to find out more, give one of our expert lawyers a call today on 01904 655442. We offer a free initial advice meeting where we can explain the process to you. We will explain the procedure in plain English and ensure that you understand the process before you choose how to proceed. Our friendly team are always on hand to answer any questions you may have.

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Address:
Ebor House
London Ebor Business Park
Millfield Lane
Nether Poppleton
York
YO26 6QY

Tel: 01904 655442

Fax: 01904 627107

Email:

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Address:
Hanover House
The Crescent
Market Place
Easingwold
North Yorkshire
YO61 3AD

Tel: 01347 822188

Fax: 01347 823082

Email:

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