If you do not make a Will, your estate may not pass according to your wishes.
What should you do?
Make a Will
It's never too early to make a Will. Without a Will, everything that you have may not pass to those whom you intend to benefit.
To assist you in preparing to instruct us to prepare your Wills, we have compiled a Wills questionnaire which contains the main questions that you will need to consider before giving your instructions. To complete the Wills Questionnaire please
click here. Once completed, you can email your Questionnaire to us
here. We will then contact you to arrange for the completion of your Will.
What Types of Will are Commonly Used?
A Basic Will sets out your wishes and provides security and guidance for those administering your Estate. However, in order to properly protect your wishes there are other options available. We recommend the use of Discretionary Trust or Life Interest Trust Wills in most cases where estates are to pass to family. They are designed to ensure that your estate passes down your family line to children or second generation beneficiaries. Such Wills can expand on the Basic Will principles to provide to your estate the following:
- Protection from Inheritance Tax;
- Protection from care fees;
- Protection from divorce of beneficiary (for example, your children’s share can be protected against potential claim from spouse of child on divorce);
- Protect the assets for future generations (ie so that your estate passes to spouse, children, grandchildren, great grandchildren)
To obtain a fixed cost quotation for all types of Will, or to arrange an appointment to discuss with either of our specialist lawyers
Robert Cartmell or
Lucy Pankhurst please contact our Private Client Department secretary Jan Lawrence.
Discretionary Trust Wills pre-9th October 2007 – AN IMPORTANT NOTE
MARRIED COUPLES WHO HAVE UNDERTAKEN A NIL-RATE BAND DISCRETIONARY TRUST WILL
As a general rule you ought not to have to change your existing will. It covers the current Governmental 2007 Inheritance Tax changes and provides an excellent structure for your wishes. It should not require any further amendment at this stage. Please contact us if you wish to discuss this further and the reasons for continuing to adopt this structure.
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