Quinn Kneale

What we do - Wills

Wills

A Will is a legally binding document which specifies what should happen to your money and belongings when you die. A good Will states your wishes clearly and gives instructions on how these wishes should be complied with after your death. Your Will can be as brief or as detailed as you like.

Quinn Kneale will tailor the structure, style and content of your Will to give legal status to your own individual requirements and wishes.

The Main Reasons for Making a Will

It is your responsibility to ensure that your loved ones or dependents are provided for after your death and it is by making a will that you can achieve this.

If you were not born on the Island, but are now resident here it may be possible to avoid UK Inheritance Tax being chargeable on your estate. Quinn Kneale can explain this more fully if applicable.

If you die without a valid Will (that is intestate) your estate will be distributed according to strict and inflexible legal rules and procedures. In practice this not only means more expense in terms of time and money but also your property may not go to who you might have wished and may well end up passing to people you don't even know.

Dispelling Some Common Myths

Only rich people need have Wills
(a) Even if you don't own anything valuable in monetary terms you probably own things which have great sentimental value which you would like a particular friend or relative to have - maybe a painting or favourite piece of jewellery. Your Will can make other provisions which may be very important to you, such as who would look after your children or where you would like to be buried.
Everything will automatically go to your spouse or partner
(b) It may not! Your partner may not get anything if you are not married. Even if you are married your spouse may not get everything as it is the law that decides who gets what if you die without a will. Children or distant relatives may be entitled to all or part of your estate resulting in your spouse or partner receiving less than you would have wished. We therefore strongly recommend you make a Will to be sure that it is you who has the final say where your money and possessions go.
It is a time consuming and expensive process
(c) The cost will vary depending upon how complicated your Will is, but usually a standard fee is charged. By spending a relatively small amount of money now, you can avoid considerable expense for sorting out your Estate after your death.

Working Together to Draft Your Will

Quinn Kneale adopt a personal approach to Will drafting and we always try to sit down with you and spend as long as necessary discussing your needs and requirements. This can be done at our offices or we can visit you at home. In this way we can establish exactly what you want your Will to accomplish and work together to decide on the best way of putting your affairs in order. You will then be sent a draft Will for your perusal and upon completion your Will can be stored in our Wills Safe free of charge. Before seeing us we recommend that you make a list of your possessions and give thought about to whom you would like your property to go. To help you in this regard Quinn Kneale have prepared an information checklist which is available on request.

If you are not resident in the Isle of Man, or have a busy lifestyle which may preclude you from meeting face-to-face with us, most Wills can be prepared based on correspondence by e-mail or post. Simply contact us with details of your requirements and we will do our best to accommodate you.