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Lots of people are daunted by the thought of making a will.
There's a combination of reasons for this, such as the concerns over the costs to make one and the legalese used in will documents and having to go to a stranger’s office to talk about their personal lives and possessions, these reasons tend to put people off from ever getting one written.
The comedy king of one-liners, Sir Ken Arthur Dodd OBE, left behind a truly remarkable legacy after his death on the 11th of March 2018, at the age of 90. Sir Ken Dodd’s long and successful career spanned over 60 years and he was often described as “the last great music hall entertainer”. Sir Ken lived in Knotty Ash in Liverpool for his entire life and was even born and passed away in the same family home.
So, the following is what your appointed Executor will have to do.
What is Probate? Probate is a legal process that is required when a person has died. This involves dealing with the deceased’s estate such as, property, personal possessions, finances, taxes, collecting any monies owed, paying unpaid bills and any debts.
During these very strange economic times the Local Authorities are required to be even more stringent with their means testing, so when it comes to your assets in regard to the costs of Long-Term Care, then your local authority may have the right to sell your home and use the proceeds to meet the costs of your care.
None of us like to confront our mortality. One thing that makes us do so is deciding on the distribution of our estate as we write our will. What do we leave, and to whom? Appointing executors, however, can seem less important and we might see it as almost an afterthought. Once we’re gone, our problems are over, and it is the executors who will have to deal with everything – so it’s crucial that we choose the right people.