Wills

Wills

As described every situation is different. We can help you get the most from your documents. We make sure that not only do your assets go to who you want them to go to in your will, but if you have special requirements for protecting assets for your beneficiaries, we can help you to implement trusts in your will for all different purposes.

Wills can include different styles of trusts. These are termed testamentary trusts as they only come into effect after the person created them has passed away. They can direct your executors what to do with certain assets that you are leaving and different trusts do different jobs. Talk to us about your needs.

will

Will Writing

With 40 % of the population estimated to not have a current up to date will, are you one of them? Let us help clarify some of terminology and misconceptions in the field of preparing and invoking a will.

Do you have a dispute with a Will?

The death of a partner, parent, friend or other loved one is always upsetting, and can be stressful. Especially if their Will is challenged or if there is a dispute relating to their Estate. We can help you with timely and sympathetic advice to ensure you have the right answers and solutions for you.

Recently suffered a bereavement?

Dealing with someone’s affairs when they die can be complicated and confusing, especially at a difficult and emotional time. We can help support you and provide direction to administer your friend or loved ones estate. Mark Pearson Associates work in partnership with our trusted partner Premier Solicitors who will manage all of the legal aspects of the estate of administration.

Will I have to pay my loved ones debts?

No. However, it is a common misconception amongst people is that when a person dies their debts disappear but this is not the case unless otherwise stated. When a person dies their debts are paid for from their assets at the time of death. If their debt exceeds their available assets then the estate will be insolvent.


  • What is an estate?

    Someone’s estate is everything that they own; all of their assets (whether real property or personal property) and their liabilities.

  • Who are Executors and what are their responsibilities?

    An executor is a person the deceased wished to deal with the administration of their estate after their death. It is your Executor’s responsibility to:

    • determine what property and other assets you owned, as well as your liabilities.
    • arrange for current valuations of your personal possessions, property, investments, any pension or insurance entitlements due and also any debts and bills
    • arrange for the payment of your funeral
    • establish Income Tax, Capital Gains Tax and Inheritance Tax liabilities and complete the necessary tax returns to submit to the Revenue
    • complete and submit the necessary Probate Registry forms
    • arrange the clearance and sale of any property
    • collect assets and pay any debts
    • arrange for the distribution of legacies and gifts to your beneficiaries
    • compile detailed accounts to give to the main beneficiaries
    • in the case of minor children being beneficiaries, then your Executor may act as Trustee for ongoing trusts, to hold their monies until they reach 18

    Your choice of Executors and/or the Solicitors they instruct can determine how quickly and efficiently the administration of the estate is progressed.

  • Who is a personal representative and what are their duties?

    A personal representative is usually the named Executor of the deceased’s Will. When a person dies without making a Will, the personal representative is the person a grant of administration has been given to.

    It is the duty of the personal representative to pay off all debts of the deceased and if this is not done then they may be liable to pay money back into the estate. In order to avoid this, it is advised that the personal representative should apply for an Insolvency Administration Order.

  • What is probate?

    Probate is the court’s authority, given to a person or persons, to administer a deceased person’s estate and the document issued by the Probate Registry is called a Grant of Representation. This document is usually required by the asset holders (such as banks) as proof to show the correct person or persons have the Probate Registry’s authority to administer a deceased person’s estate.

  • When is Probate required?

    The Probate process is needed when investments (typically over £5,000) were held in the deceased’s sole name and the banks, building societies and other organisations request for a Grant of Probate/Letters of Administration in order to release the funds held.

  • Will I have to pay my loved ones debts?

    No. However, it is a common misconception amongst people is that when a person dies their debts disappear but this is not the case unless otherwise stated. When a person dies their debts are paid for from their assets at the time of death. If their debt exceeds their available assets then the estate will be insolvent. Sometimes it is not known if an estate is insolvent until the grant of probate has been received. When the estate of the deceased is insolvent, gifts and legacies cannot be distributed to the beneficiaries under the Will.

  • Funeral Plans

    Through our trusted partners, Safe Hands Funeral Plans, we are able to provide comprehensive advice with regard to planning for your funeral. This is obviously a stressful and often expensive time for the family, but you can help limit the cost and stress of the situation by pre paying for your funeral before your death. You can do this either by paying a lump sum now which is held in trust and invested until you die or by paying in monthly instalments directly to the plan provider.

Mark Pearson Associates

Independent & Professional Advice

Call today : 07825 785810

Set in the heart of rural Kent, Mark Pearson Associates was set up to give good, clear advice on all aspects of Wills, Lasting Powers of Attorney and Trusts. With 40 % of the population estimated to not have a current up to date will, are you one of them?

Free Consultation