If you wish to avoid the rules of intestacy and make the distribution of your estate easier for your family and beneficiaries, we offer a professional will writing service.
Estate planning complements financial planning
Will writing is an important part of estate planning and financial planning. As Inheritance Tax could be payable, we will consider (together with your financial advisor) the most tax effective options for you.
Lasting Powers of Attorney
Lasting powers of attorney allow an appointed person to control your affairs when it is difficult for you to do so yourself.
We all hope that we will stay healthy (both physically and mentally) and will not need assistance to look after ourselves whilst we are alive. Unfortunately, for a large number of people, this is not the case. If we are suddenly unable to look after our financial and legal affairs (through some misfortune or illness) a power of attorney can help greatly.
Letter of Wishes
A Letter of Wishes is an informal letter to explain your wishes for the distribution of your estate on death. It can be addressed to trustees, family members and/or loved ones to help guide them once you have died. You can write or type it yourself, sign and date it. It is a non-binding letter designed to sit alongside your will. Writing a will can be tricky but to help your loved ones understand your will (what you intend to happen next) a simple letter of wishes can help to address any difficult decisions/emotional stress caused.
Establishing a trust may be a solution to enable your chosen beneficiaries to benefit from their inheritance during your lifetime.
Transferring assets during your lifetime may also be a solution - so as to reduce potential inheritance tax issues and/or to ensure certain family members or friends are able to benefit during your lifetime.
Will drafting services
Death is one of the few certainties in life, but if you die without making a will, your assets will be distributed according to the law (rules of intestacy), and not according to your wishes.
In our experience, people are reluctant to think about what happens when they die and hence are reluctant to start the will writing process. It is a sensitive subject and not one many feel comfortable discussing, but here are a few reasons why it should be done.
Your wishes - not the State
Writing a will means that you determine who benefits from your estate. It also enables you to consider effective tax planning and your loved ones will know, in due course, that they will be looked after.
WHY WRITE A WILL?
WILL DRAFTING SERVICES
It would help if we know when we are going to die, but in general we are blissfully unaware of this. By making a valid will, you can ensure that your spouse, family and friends and favourite charities will benefit as you intend.
Contents of a will
A will sets out the way in which you want your assets such as your savings, investments, property, insurance policies and possessions to be distributed when you die. You can use your will to give details of any legacies you want to make to individuals or charities and any lifetime trusts that you would like to establish for children, elderly relatives or others.
How you decide to dispose of your assets may be upsetting to some your relatives. We encourage you to discuss with those concerned and/or write one or more letter(s) of wishes to be opened after your death.
The role of the Executor is to ensure that your will is properly administered and that the full value of your Estate is realised. The duties will include tracing all your assets and investments, calculating and arranging for the payment of any debts and taxes, obtaining probate, tracing all the beneficiaries, distributing the estate and resolving any disputes which may arise.
It is important that whoever you consider appointing as your Executor understands that the duties they take on could become complicated and time-consuming. Whilst your Executor could be a close friend, a family member or a professional adviser, in practice, many Executors instruct solicitors to act on their behalf, at considerable cost to the Estate.