Murray Beith Murray LLP is a leading Scottish private client law firm.
For 175 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.
If you have been appointed as an executor of a loved one’s estate, one of the most important responsibilities you have is to obtain a valuation of the estate. The process of valuing a loved one’s assets can be challenging and confusing. In this article, we set out some of the things you must be aware of when obtaining a valuation of a deceased’s assets in Scotland.
The COVID-19 pandemic has focussed thoughts on the possibility that either you or a family member might end up in hospital. It is possible to plan ahead for such an unfortunate event and record your decisions regarding medical treatment you would wish to refuse in certain situations in a document called an Advance Medical Directive (also known as a Living Will). Whereas most people are aware of the importance of putting in place a Will and a Power of Attorney, Advance Medical Directives are less well-known and can often be an invaluable document for your loved ones at a difficult time.
There are many circumstances in which you may wish or need to update your Will. However, drafting an entirely new Will is not always necessary. In this post, we look at the different circumstances where you may need to redraft your Will or add a supplementary document to amend your Will, known as a ‘codicil’.
The law of Scotland provides that your spouse and children will automatically benefit from your estate, regardless of whether or not you left a Will. This is due to the system of Legal Rights, which is unique to Scotland in the UK.
When advising on and drafting a Will, a Solicitor must ensure that the Testator (the person making the Will) has full capacity to make the decisions featured in the document. Failure to do so can leave the Will open to challenge by disgruntled beneficiaries or those who believed they should have benefited from the Will.
