Wills - Frequently Asked Questions

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► What is a Will?

Why is taking advice on your will so important?

When should I make or review my Will?

  How can Hadden Rankin help me with my Will - What happens next?

What is a Will?

A Will is one of the most important documents that you will ever write. It allows you to control  who you leave your money, assets, and personal belongings known as your Estate to when you die. 

Why is taking advice from us on your Will so important?

For peace of mind to ensure that you are getting the advice that you need and the right type of Will which is suited to your personal circumstances.

Old man and kids

If you have a Will you can avoid your estate being dealt with as an intestate estate under Scots law which is complex and could result in your Estate passing to relatives that you don't want to inherit from you. You can leave your Estate to whoever you want, including your spouse, relatives, friends etc.  You can also leave your estate to charities or to your cohabitee who would not automatically inherit from your Estate if you don't have a Will. You can take advice on possible inheritance tax and legal rights issues which your estate could face. You can choose who your Executors and Trustees are.

Parents with young children can appoint Guardians for their children which is essential.

A Trust can be created for children and grandchildren in your Will to safeguard their inheritance until they are mature enough to handle their finances themselves.

A Trust can also be useful for disabled, young, and/or other vulnerable beneficiaries.

It is important that you take legal advice on your Will to ensure that it is recognised in law.

When should I make or review my Will?

You can make or review your Will at any stage in your life provided that you have legal capacity.  In many cases it is relatively straightforward and the benefits far outweigh any inconvenience to you for the sake of those who you leave behind.

Remember though that it is a document that can be changed at any time. Even if you have a Will, you should review it regularly to ensure that it suits your current personal and financial circumstances as well as changes in law.

How can Hadden Rankin help me with my Will - What happens next?

Mum and KidYour Will is essentially a financial document and in many cases it is relatively straightforward and simple to prepare. All we need from you is an estimate of  the value of your net Estate and an idea of who you want to leave things to so that we can give you a quote for preparing your Will and get things started.

For a quote for preparing your Will or for a Wills review, please complete and submit our Wills Questionnaire online or contact Nicole Noble in our Private Client team to discuss matters on 0131 662 1933 or by email nicole.noble@haddenrankin.com