We can assist in drafting a Will that reflects your wishes clearly and accurately. We can also help with complex wills, such as those that involve trusts, international assets, or care provisions for dependents. We will also provide advice on inheritance tax and trust structures.
We can provide detailed advice on both types of Lasting Powers of Attorney and whether these are appropriate for your needs. We can also advise on general powers of attorney and the limitations of these.
Losing someone is difficult, and estate administration can be complex. We assist with probate, asset valuation, debt payment, and ensuring the estate is distributed per the Will or law while advising on tax responsibilities.
In the case of intestacy (when someone dies without a will), we can guide you through the statutory process of estate distribution. We help identify the legal heirs according to the laws of intestacy, which may include spouses, children, or other relatives. We can assist in ensuring that the estate is administered correctly, and can help in cases where there is uncertainty about how assets should be divided.
If a beneficiary wishes to change the way an estate is distributed after death (perhaps because circumstances have changed or the Will isn’t quite what they expected), we can help with post-death variations. We can guide beneficiaries through the legal process of making a formal variation to the Will. This might involve changing the distribution of assets or making arrangements for tax planning.
A declaration of trust is a way to formalise ownership of assets between multiple individuals, often in the context of joint property ownership. We can help draft a declaration of trust, ensuring that it accurately reflects the intentions of the parties involved. We provide advice on the implications of trusts, including tax and legal responsibilities, and help structure them to meet the needs of all parties while protecting their interests.
A living Will, or advance decision, is a document which outlines your wishes regarding medical treatment in the event that they become unable to communicate due to illness or injury.
A deed of gift is a formal legal document used to transfer ownership of property or assets from one person (the donor) to another (the recipient) without the exchange of money. We can draft a deed of gift to ensure that the transfer is properly executed and can advise on tax implications, particularly regarding inheritance tax.
Transferring property on death refers to the process by which ownership of a property is passed to a beneficiary after someone’s death, often through a Will or a trust. We can assist with the drafting and execution of transfer documents.
Without a Will in place your assets will pass in accordance with intestacy rules which will not always reflect your wishes or your circumstances. This is particularly the case where couples are unmarried or where there are minor children (under the age of 18).
By making a Will, you can:
A Will is not set in stone and can be amended at any time before death (providing you have the mental capacity to do so). It is therefore very important to review your Will over time and particularly after any major life events such as marriage, divorce or the birth or death of a beneficiary (the person you want to inherit).
There are also changes in the law from time to time and we therefore recommend that you consider your Will every 5 years to check that it still meets your requirements.
You can update your Will by either creating a new one or by adding a codicil (a formal amendment to your existing Will).
A single Will is used most often for a person not in a relationship but can also be used for couples where they want to specify individual wishes.
These are Wills for a couple that will ‘mirror’ each other and result in the same outcome. This is usually where a couple wants the surviving spouse to inherit and then for the same beneficiaries to inherit on the second spouses death. The couple does not need to be married or in a civil partnership but the wishes for distribution will be the same. It is important to note that with a mirror Will, either party can still amend their Will at any time and therefore the outcome will not be guaranteed.
These are usually used in circumstances where there has been a second marriage and you want to preserve part of your Estate for your children from a first relationship or where you want to protect assets from care home fees or second marriage succession. Usually a particular asset, such as the family home, will be placed in a Trust on the first death but for the benefit of the survivor for the remainder of their life (particularly where the desire is to provide a home for life). Then on the death of the survivor the asset will pass in accordance with the first deceased’s Will ensuring that their share of the asset passes to the beneficiaries they want to inherit.
Discretionary Trust Wills are used to place your Estate (or part of it) into a Trust on your death. You can choose your Trustees (the people you want to manage the Trust) and your beneficiaries but then the Trustees will have ultimate discretion as to what, how and when assets of the Trust are gifted and to whom.
Estate: The assets that you own such as money in bank accounts, property, antiques or paintings, jewellery, shares etc.
Executor: The Will appoints an Executor or Executors to be the person or people responsible for carrying out your wishes after you have passed away. They will be responsible for notifying banks and other assets holders of your death, paying any debts, taxes or liabilities and then ultimately distributing your Estate in accordance with your wishes.
Guardian: If you have minor children (children under the age of 18) then you should appoint a guardian in the event that both parents die. A guardian will be responsible for care of any children under the age of 18 at the time of your death. We suggest that one of your Executors is also appointed as a guardian but this is not necessary.
Beneficiaries: These are the individuals or organisations (often charities but not necessarily) that you wish to inherit from your Estate.
Distribution: The act of gifting the assets to your beneficiaries out of your Estate.
Details of our charges can be found here.
Please contact us to obtain advice and guidance on the options for you and your circumstances. We will always endeavour to support you and guide you to make it a smooth a process as possible.
