Will Drafting and Estate Planning

Our Wills and Trust team handles the process of creating a Will or Trust with discretion and honesty. At KaurMaxwell: independent law firm, we tailor our service to your circumstances and instructions and guide you through the process clearly and practically.

Why do I need a Will?

A Will is a legal document in which you state what you would like to happen to your estate when you pass away. You control who benefits, when, and how. You chose who carries out yours wishes.

Your estate consists of your personal possessions. These include, but are not limited to:

• Your house, less any outstanding mortgage or other loans secured on it
• Cash and savings
• Your car / vehicles 
• Shares and investments 
• Investment properties 
• Household and personal effects
• Sentimental items
• Jewellery 
• Valuables 
• Proceeds from any life assurance policies and pensions where there isn't a named beneficiary or the plans are not written in trust
• Less any outstanding loans, credit card balances, household bills, funeral expenses, etc

While it may be daunting to produce a Will, it is helpful to your family and friends. In the absence of a Will, the law determines how your assets should be divided which may not be in line with your wishes. Rigid intestacy rules do not recognise long-term cohabiting couples or stepchildren. In the absence of a Will those closest to you do not automatically inherit. 

What does a Will include?

Your Will is an opportunity for you to clearly express your intentions relating to:

• Who should carry out the wishes of your Will (called an executor);
• Who you wish to act as guardian of your children and how you wish to support your children financially;
• How you would like your funeral conducted;
• Whether you wish to donate your organs or donate your body for medical research;
• Provisions to reduce death duties (Inheritance Tax);
• Provisions to utilise the spouse exemption / legal registered partner/ civil partnership exemption
• Provisions to utilise the nil rate band and residence nil rate band 
• Pecuniary legacies / cash sums you may wish to leave to friends or charity 
• How to provide for your pets or charity close to your heart; and
• Who you wish to receive what of your personal items, investments and or property. This can be a gift that has real value, like your house, or sentimental value, like a watch or wedding ring.

Trusts

Safeguarding and managing your assets through Trusts.

Trusts are a useful structure to manage and safeguard assets, and different types of Trusts have different tax treatment. A Trust is a legal arrangement where Trustees hold assets for the benefit of the Beneficiaries. Clients use Trusts for various reasons, such as:

• To protect the interests of a vulnerable relative or minor Beneficiary;
• To protect beneficiaries who can be taken advantage of;
• To protect beneficiaries who make unwise decisions;
• To protect beneficiaries in receipt of means tested benefits; 
• To protect the interest of a child going through a divorce; 
• To provide flexibility over a long period of time to keep circumstances under review; Tax planning purposes; or 
• Lifetime interests for individuals in their Will.

Trying to make your own Will or Trust, without legal assistance, can be difficult. It could also lead to mistakes or lack of clarity and could mean that your Will or Trust is invalid. It is therefore advisable to seek the assistance of a solicitor to avoid any difficulties. This is prudent especially where you have several beneficiaries, your Trust is complex, and/or your finances are complicated. 

Our specialist solicitors can also advise you on the Trust Registration Service, a recently introduced requirement that nearly all express trusts are registered with the TRS service as part of HMRC transparency rules. 

How can solicitors help with Wills and probate?

Drafting Wills and Trusts

Our team of solicitors specialise in drafting Wills and trusts that accurately reflect the client's wishes and comply with legal requirements. Wecan guide you through drawing up a Will that protects your wishes against a possible claim from a disappointed person who is not provided for under your Will. Solicitors are regulated, and insured and have a duty to ensure their knowledge is up to date. Will writing is an unregulated sector and care should be taken in ensuring a solicitor with expertise and insurance assists. 

If there are family members to be excluded from the Will then a carefully drawn up Will by a solicitor can reduce the risk of a Will being successfully challenged on the grounds of lacking capacity, undue influence or lack of knowledge and approval. 

Probate Administration

They assist in probate administration, guiding executors through the legal process of administering the estate and fulfilling their duties.

Handling Intestate Cases

Solicitors provide legal expertise in handling intestate cases, ensuring that assets are distributed according to the laws of intestacy.

Assisting Executors 

They offer support to executors, providing clarity on their rights and responsibilities during the probate process. They can arrange to distribute the estate to the beneficiaries. 

Resolving Probate Disputes

We can be instructed to intervene to resolve probate disputes where possible, applying legal strategies to settle conflicts and ensure a fair distribution of assets.

Why is it important to work with a trust and probate solicitor?

Guidance on Trust Creation and Administration

Trust and probate solicitors offer expert guidance on trust creation and administration, ensuring that the client's assets are protected and managed according to their wishes.

Legal Advice on Inheritance Tax

Specialist advice should be sought on inheritance tax, employing strategies to minimise inheritance tax liabilities and preserve wealth for future generations.

Protection of Family Provisions

Solicitors safeguard family provisions by ensuring that assets are distributed in a manner that protects the interests of the beneficiaries.

If a beneficiary is going through a divorce then an outright inheritance could get caught up within their divorce. If the inheritance passes to a trust then it is ringfenced.

If a beneficiary is entitled to means-tested benefit their entitlement may stop if they inherit a lump sum. If their share is ringfenced then funds can be drip fed to retain their benefits.

Blended families

Where couples have children from previous relationships they may wish to ensure their children inherit but that their current partner has security to occupy their home for the survivors life. Trusts can be useful in granting a current partner the right of occupation whilst securing their children ultimately benefit from the property when the partner dies. 

The surviving partner cannot leave the house to a new partners for example if they remarry. 

Trusts can be incredibly useful for modern blended families – striking a balance between current partners and children from former relationships. 

Peace of Mind through Estate Planning

Working with a trust and probate solicitor provides individuals with peace of mind, knowing that their estate affairs are structured in accordance with their intentions.

Addressing Trust Disputes

Trust and probate solicitors intervene to address trust disputes, applying legal expertise to find equitable resolutions for all parties involved.

Why choose KaurMaxwell for Wills & Trusts?

When you choose KaurMaxwells solicitors, you gain access to a team of dedicated professionals with a proven track record of success. 

Recognition from Legal Directories like Legal 500 and Law Society

We are proud to be recognised by prestigious legal directories such as Legal 500 and the Law Society, a testament to our commitment to excellence.

Diverse & Comprehensive Expertise

The team at KaurMaxwell brings together diverse expertise in civil and commercial litigation, property law, employment, insolvency and restructuring law.

Proven Track Record

Team members have successfully led cases against major law firms. Their strategic thinking and ability to achieve desired results demonstrate a proven track record of success.

Multilingual Support

Our team is fluent in multiple languages (Spanish, Punjabi, Hindi, Tagalog, Gujarati, French, Twi, Kurdish and English) allowing us to serve a diverse client base with ease.

Accessibility

Based in London, our solicitors are easily accessible to clients across the UK. We're here to assist you, whether in person, over the phone, or through virtual calls.

Frequently Asked Questions:

What is the significance of making a provision for a family in a will?

Making a provision for family in a will ensures that your loved ones are taken care of and that your wishes regarding the distribution of your estate are clearly outlined and legally binding.

What are the responsibilities of a private client lawyer?

Private client lawyers specialise in providing legal advice and services to individuals and families, particularly in matters related to Wills, trusts, probate, estate planning, and family law.

Can the solicitors at KaurMaxwell help with inheritance disputes?

Yes, the solicitors at KaurMaxwell are experienced in handling inheritance disputes and can provide legal advice and representation in such cases.

What is the significance of appointing a trustee at KaurMaxwell?

Appointing a trustee at KaurMaxwell is important for managing and distributing the estate according to the wishes of the deceased, ensuring that it is carried out in a responsible and legal manner.

What is estate administration and how can the solicitors at KaurMaxwell assist with it?

Estate administration involves the legal and financial processes of managing and distributing the estate of a deceased individual. The solicitors at KaurMaxwell can provide expert assistance and guidance in estate administration matters.