A Will is a written document that specifies where and to whom you wish your property and possessions (otherwise referred to as your ‘Estate’) to be distributed in the event of your death. Although Wills have a reputation of being complex, this need not be the case. Some Wills, however, require specialist legal knowledge and advice for your specific wishes to be reflected and carried out. A skilfully drafted Will can be a solid foundation in the overall management and administration of your family wealth.
Not having a will carries the significant risk. Finances and assets at the mercy of UK intestacy law, which you and your family may have no control over. It is therefore vital to take timely advice and plan ahead in order to safeguard the wealth that you have worked hard to accumulate.
For example, without a formal Will, an unmarried partner does not have an automatic entitlement to key aspects of the Estate; assets may have to be sold, and specific family members may be disinherited inadvertently. Often beneficiaries become embroiled in entirely avoidable contentious probate litigation that has been known to bankrupt otherwise solvent Estates.
At Mercantile Barristers our members regularly advise on and draft a variety of Wills and trusts for the benefit of our clients, including but not limited to: court approved Wills for those lacking capacity to make a Will; appointment of Executors; making of cash and specific property legacies; distribution of the remainder of an estate; all available inheritance tax reliefs and exemptions; setting up trusts; and ‘Living Wills’.
Your circumstances and the law in general may change. If so, it is imperative that your Will changes too and is therefore kept up to date. Our wills and probate barristers are available to advise you on the important decision of selecting your executors; the Executors themselves in making the correct decisions for the benefit of the Estate.
Our barristers can also provide expert advice if there have been alleged breaches of an Executor’s duties. This may lead to applications to remove or replace an Executor, an order that they make good any losses suffered by the estate, or an order that they must take a specific action in relation to the estate.
At Mercantile Barristers our members have and continue to act on behalf of beneficiaries, family members, step children, common law spouses, executors and administrators, and always seek to resolve matters out of court where appropriate. If court action is necessary, we are suitably equipped to receive instructions on contentious probate claims regarding, undue influence, lack of capacity, or the doctrine of promissory estoppel.
Our approach to legal practice is always to articulate creative and value-adding solutions for clients whilst delivering timely, efficient, and affordable professional services. All clients conduct their affairs within a legal context, and Mercantile Barristers’ role is to advise on the conduct of their transactions and affairs in ways that avoid conflict and disputes.
Whether by adjudication, arbitration, or litigation, Mercantile Barristers members will adopt a firm, swift and decisive approach to achieve the best possible results for clients within the shortest time. We recognise that no two cases are the same, so we will adapt our style to suit the occasion.