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Will Storage Service
It’s all well and good making a Will, but if it can’t be found at the time of your demise, the benefit of your wisdom may be lost.
Will Solutions offer two levels of Storage Service. Firstly, we offer a Storage & Review Service. This is a fully comprehensive service which takes care of your long-term needs and it is the choice of over 90% of our clients. Secondly, we offer a Storage Only Service where we store your Will until it is needed. Both services are described in more detail below.
Our Storage & Review Service
We believe that there are five possible problems that you could face in the future even if you already have a Will.
- Data Protection. As time goes by this legislation makes it more and more difficult to trace people’s assets.
- Changes to your Personal situation. We constantly come across people who have experienced changes in their circumstances but were not aware that a change in their Will was also needed as a result.
- Changes in Legislation. Frequent changes in legislation means that it is very important that your Will should be kept fully up to date.
- Estate Preservation. This service will make you aware of any Inheritance Tax Liability you may have and will also keep you up to date with other subjects such as long term care costs giving you the opportunity to make provision for these situations. (If this service is used there may be a charge for legal work other than alteration of your Will)
- Probate. In the event of your demise your Executors will be familiar with us through annual contact and will have someone to guide them should they need assistance.
What does this cost include?
- We keep your Will in safe storage until required. (You would be surprised what little damage it takes to make a Will invalid)
- Any future alterations to your Will can be made free of charge.
- At the outset we will contact your Executors and Guardians to inform them of the following;
- We are looking after your Will.
- Exactly what duties they would be expected to carry out.
- Details of any financial provisions that you have made for them whilst they are acting on your behalf.
We will also;
- Check to see that their details are correct.
- Give them a chance to ask us any question that they may have concerning their role.
- Allow them to say “no” if they feel that the role is too demanding for them, rather than accept the role in a half-hearted manner.
- Write to your Executors to supply them with our details as well as reminding them of their duties as Executors and the procedures that they must follow in the event of your demise.
- Every year at the agreed review date we will re-contact your Executors and Guardians to;
- Ensure that there have not been any changes in circumstances that may mean they are unable to continue in their role.
- Check their address details and alter our records if required.
- Remind them of their duties and what they should do in the event of your demise.
- As it is a legal requirement to produce details of your assets and liabilities on your demise, we ask you to supply this information on the sheets provided in the “Storage Service Information Document”. These details are held by us, checked at the annual update, altered if necessary and forwarded to your Executors along with your Will when required.
- A “Contact List” is contained within the “Storage Service Information Document” to complete, detailing all the people/associations you wish to be notified of your demise. This will be held with your Will and supplied to your Executors when required.
- Every year we will;
- Send you a summary of your details, which will include your assets and liabilities and your contact list, during the month prior to your review.
- Contact you by telephone to discuss these details and the contents of your Will to ensure that it still reflects your current and future wishes.
- From 2004 we will inform you of any liability to Inheritance Tax Liability.
- Discuss any changes in legislation that may effect you.
- In the event of your demise we will supply your Executors with the following;
- Your Original Will.
- Probate documents to allow them to deal with your estate.
- Your list of people/associations you wish to be notified of your demise.
- Details of your assets and liabilities.
- Details of your relevant personal information.
- Professional guidance if required.
Our Storage & Review Service costs £35.00 annually.
We feel that this service covers your future needs. Any additional services introduced in the future will also be offered to you.
Our Storage Only Service
What does this cost include?
- We keep your Will in our fire safe until required.
- You will be supplied with a copy of the Will held by us.
- At the outset we will contact your Executors and Guardians to inform them of the following;
- We are looking after your Will.
- Exactly what duties they would be expected to carry out.
- Details of any financial provisions that you have made for them whilst they are acting on your behalf.
We will also;
- Check to see that their details are correct.
- Give them a chance to ask us any question that they may have concerning their role.
- Allow them to say “no” if they feel that the role is too demanding for them, rather than accept the role in a half-hearted manner.
- Write to your Executors to supply them with our details as well as reminding them of their duties as Executors and the procedures that they must follow in the event of your demise.
- Upon your death send your Original Will to your Executors along with the appropriate probate paperwork.
Our Storage Service costs £35.00 per Will.
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