We draft wills for people of all ages, from those with grown up children to many young people who have decided to plan for the future, frequently when they buy their first home together.
We recognise that often difficult subjects need to be tackled when thinking about making a Will and the members of our Wills and Trusts Department are used to handling such situations with care and diplomacy.
There are many benefits to a Will:
» You can decide who will look after your children
» You can appoint a trusted person or persons to administer your estate after you have died
» You decide who benefits from your estate
» You can specify any funeral wishes you may have
However, without a Will:
» You do not decide who looks after your children
» You will not have a say in your funeral
» You do not decide who inherits or who looks after your affairs after your death
» Things may happen (either to your money, your possessions or even your body) that you would not have wanted
Equally, disagreements and problems often arise in your family after you are gone. Drafting a Will can assist with this by not only allowing you to decide who inherits but by establishing a Trust for any children who may be left behind and also naming guardians of your choosing as well as directions as to the upbringing of your children as you would want them to be looked after.
A Will Trust covers the situation where you to appoint a trusted person, your Trustee, to look after the Trust monies or property until the date that you have decided that you want the money to be distributed. For example, you may prefer that money is not released at age 18 but that your child should wait until they are more mature, say aged 25 before they receive their inheritance. In the meantime, the Trust can allow your Trustee to exercise discretion by allowing them to advance monies for the child’s education or welfare and to also invest the money on behalf of your child in property for example.
Another example might be that you wish to protect a disabled child without putting his government benefits at risk, or a trust to ensure a child does not squander his inheritance. We can assist you by determining if trusts should be established and what types of trusts are appropriate.
If you have any queries regarding writing or amending your Will or any questions regarding how your estate will be valued and taxed please do not hesitate to contact Luke Almond on 01227 812689 or complete the enquiry form below.