Helping you plan for the future
Our Wills and Trust team handle the process of creating a Will or Trust with discretion and honesty. 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.
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
- Household and personal effects
- 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 relatives. In the absence of a Will, the law determines how your assets should be divided which may not be in line with your wishes.
What does a Will include?
Your Will is an opportunity for you to clearly express your intentions relating to:
- Who you wish to act as Executor of your Will;
- 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);
- How to provide for your pets or favourite charity; 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.
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 disabled relative or minor Beneficiary;
- 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.
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