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HALF PRICE Wills at onlinewill.co.uk!
News added Tuesday 12th January 2010
Onlinewill.co.uk offer a simple way to making a Will online in just a matter of minutes. They offer Single Wills for £29.95 and Mirror Wills for £39.95 however howtowriteawill.org visitors can get either Will for just half the price when using the following promotional code. Simply enter the appropriate code prior to checkout.
Promo codes:
For a Single Will enter -
HTWAWS
For a Mirror Will enter -
HTWAWM
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Online Will to make your Will.
We now have our own blog within the site!
News added Wednesday 25th November 2009
I'll be blogging on a daily basis to keep you up to date with everything regarding Will writing so as well as reading through our articles on the site you can now add your comments to any of my blog posts and even ask questions of your own. Each week i'll be adding a 'Question of the Week' aimed at you the readers, to find out about your Will writing experiences -
Visit the blog here.
Latest Will Writing Article...
What does being an executor entail?
Article added Tuesday 18th August 2009
Being appointed as an Executor in a Will brings with it complicated and sometimes onerous duties when someone dies and the work involved often takes months to complete. It is important to do it properly because the Executor or Administrator is ultimately liable for any mistakes made. This is why a lot of people employ solicitors to help them (although there is no requirement to do so).
A Personal Representative or PR is the person who is charged with dealing with all of the assets and possessions of the deceased. These possessions are collectively known as the Estate. The PR has the legal authority and responsibility to administer the estate and is ultimately liable for any mistakes made.
If a Will has been made the PR is known as an Executor; if there is no Will then the PR is known as an Administrator.
Why me?
If you have been asked to be an Executor, you will have been named in the deceased’s Will. Where there is no Will, the position of Administrator is determined in accordance with the Rules of Intestacy (a strict legal order of priority that applies to the next of kin of the deceased).
An Executor can be held personally financially liable for any loss resulting from a breach of their duty - even if the mistake is made in good faith.
This will include:
Failure to pay the debts and liabilities of the deceased
Failure to settle the affairs of the deceased relating to: Inheritance Tax, Income Tax and Capital Gains Tax
Loss occasioned by any delay in administering the estate
Failure to settle any claim against the estate
Failure to identify and correctly distribute assets to the beneficiaries (including those initially not known about)
Do I have to accept the job of Executor?
No. So long as you make the decision before any work has started you can decide not to administer the estate of the deceased. An Executor, by renouncing his or her entitlement will not be named on the Grant of Representation. Anyone named as Executor can renounce their role including any professional organisations included in the Will.
You can then appoint a solicitor or new professional legal organisation to act on your behalf.
Do I need to use the solicitor who drew up the Will of the deceased?
No. You can appoint anyone who is qualified to administer estates to help you. This could be another solicitor or a Trust Company.
Executors are responsible for administering the property and possessions of the deceased in line with their wishes and the law.
The Executors are responsible for everything they do, or fail to do, in relation to the estate. This responsibility lasts for the duration of the Administration of the estate and any ongoing Trust created.
The precise duties fall under the following three areas:
Legal
Applying to and attending at Court to apply for Grant of Representation. If there is a Will, this is known as the Grant of Probate, if there isn’t a Will, then this is known as Letters of Administration
Identifying and dealing with any claims against the estate
Settling all debts and liabilities
Correctly distributing the residue of the estate to the beneficiaries
Administration
Notification and correspondence with all relevant organisations in order to gather all assets and pay all debts and charges on the estate
Search for unclaimed or missing assets
Prepare and distribute estate accounts to interested parties
Tax
Completion and submission of Inheritance Tax returns and payment of any Inheritance Tax
Completion of any necessary Income and Capital Gains Tax returns and payment of any outstanding tax
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