about willsThe top 10 most frequently asked questions regarding willsWhat happens if I do not have a will?Anything you own will be distributed under therules of intestacy. Who receives a benefit willdepend on whether you have surviving relatives. For example, if you have a spouse and children,your spouse will get all yourpersonal belongings plus up to£250,000. Anything else will besplit in half, with one half beingdivided equally between yourchildren when they reach 18 andthe other being held on trust foryour surviving spouse.Do I need a will if I have nothing to leave?Many people are worth more dead than alive.Even if your estate is small in money terms, it isstill important to ensure that your wishes arecarried out such as appointing guardians to carefor your children if they are under 18. Also theremay be life policy money or death in servicebenefits payable on your death.Will there be tax to pay?Inheritance tax is only payable on the value ofyour estate in excess of £325,000, after thepayment of your debts. Gifts to your husband orwife or charities are exempt. If there is tax to pay,the rate is 40%. We can advise on possible waysto save inheritance tax.Who are executors?Executors are the people you appoint in your willto carry out your instructions once you have died.What happens on a second marriage?A will is automatically revoked on marriage. If youdo not make a new will, then your new spouse willbecome the main beneficiary of your estate. Bymaking a will you can make provision for yourspouse but, at the same time, ensure that yourchildren from your previous marriage willultimately receive a benefit.Will my partner benefit if we are living together?No - if you do not make a will, the intestacy ruleswill apply. Your partner will not receive any benefit at all as your estate will pass to yourchildren if you have any or, if not, to your parentsor brothers and sisters. If I am separated from my spouse, will they still benefit?Yes - until you are divorced or judicially separatedthe fact that you do not live together will makeno difference. If, at the time of your death, youhave made a will benefiting your spouse thenthey will still receive a benefit.Why do some wills contain trusts?There are all sorts of reasons to include trusts inwills. Trusts can be useful to protect yourbeneficiaries, to make the most of any taxplanning opportunities or to protect your assets. Would my attorney have any rights on my death?No - the authority given by any type of power ofattorney comes to an end on death.Can I make my own will?Yes - but as your will is one of the most importantdocuments you will ever sign, it is much better tomake sure that it is right. FIND OUT MOREJessica Jamieson AssociateT:01892 506 019E:firstname.lastname@example.orgIf you would likeadvice aboutmaking a willplease contact:TOPTEN?CRIPPSLIFE13i
14CRIPPSLIFEArt in the dockyardThe bi-annual Art in the Dockyardcompetition held at Chatham HistoricDockyard showcases creative talent from around Kent, with the entries exhibited in the No.1 Smithery: TheGallery. This year the photography category was sponsored byCripps Harries Hall and first prize went to Mike Chaplinfor his photograph 'No. 1 Smithery Panorama', anostalgic piece capturing the looking of the Smitheryprior to the regeneration project in a panoramic view.Trevor Barnard was highly commended for his photo'Dockyard Fog' which suggested how it might have feltto work in the dockyard.