wills

  

what is a will?

wills are important legal documents which allow you to decide how your estate will be dealt with on your death. You are in control of setting out your wishes and appointing people you trust to look after your affairs and act as guardian for any minor children

benefits of having a will

 

  • you can decide where your assets are to pass on your death - this could mean protecting your assets for future generations through trusts, providing for minor children or vulnerable individuals and making gifts to friends or charities

  • you can use your Will to direct where your personal items are to go whether this be passing on family heirlooms or preparing a list of meaningful items you would like to pass on to friends

  • you decide who will be responsible for administering your estate, meaning they go through the probate process and ensure the terms of your Will are followed;

  • if you have young children and anything should happen to you, you can include provision in your Will for who would look after them ensure you are making provision for your loved ones, passing on family heirlooms

  • a will can be drafted to suit your individual circumstances and can be a useful tool in reducing inheritance tax 

  • property protection trusts are commonly used in Wills either for second marriages to protect the shares of the property to pass to a couple's respective children, or to protect assets from care home fees

when do you need to update your will?

although your will does not come into effect until after your death, it is a living document and should always reflect any changes in your circumstances during your lifetime. In particular we would suggest you review your will upon any of the following:-

  • marriage/civil partnership or cohabitation

  • divorce or separation

  • birth of a child or grandchild

  • moving house

  • death of partner or spouse

  • death of a beneficiary in your will

  • windfall or inheritance

 

how will your will be stored?

did you know that 1 in every 3 Wills made is never located meaning that the provisions are not put in place as the person had planned and wished. Through our trusted partners The National Will Archives we can store your Wills securely to include an entry on their electronic database. This means that on your death a search will confirm the existence of your Wills and where they are stored