Estate planning
starts with a Will

Ensuring those left behind are catered for is paramount in Will making

A Will is the most effective way of ensuring that those closest to you are adequately provided for after you have gone.

If you need to consider making financial provision for those you love learn more from our Life assurance page.

A Will gives important peace of mind not only to you but also your nearest and dearest who will know that steps have been taken to provide them with the financial security they will require.

This is particularly important for unmarried couples as their relationship can be questioned by the Intestacy Rules which apply when someone dies without leaving a valid Will.

Co-habitees could have a burden of proof to have any rights in their deceased partner’s estate under the Intestacy Rules.

If you own family heirlooms, items of sentimental value, antique furniture, valuable jewellery or precious works of art you may want to make sure that they go to a particular member of the family or a valued friend who will appreciate and enjoy them.

Giving instructions in a Will is the obvious way to do this. Usually the gift will be a “specific bequest” but gifts of this kind can be dealt with by way of a list of instructions written by you.

A Will is also a perfect vehicle for making a gift of money. Making a Will is a good time to acknowledge your closest friends and family or remember your favourite good cause with a legacy.

HMRC are duty bound to collect taxes due

Careful Will drafting can have a significant impact upon the level of inheritance tax which will be paid (if any). It provides an opportunity to assess your position and consider what steps can be taken to minimise the inheritance tax liability.

The small cost of making a Will can represent excellent value when compared to the tax savings that can be made.

if you wish to consider any potential Inheritance Tax issue whilst setting up your will contact us in the first instance in order that we may collect all relevant information from you.

This is particularly important if you have young children and want to provide appropriate care for them after your death. It is, of course, advisable to consult the prospective guardians to make sure that they are willing to act before naming them.

A Will enables you to decide who will be responsible for administering your affairs after your death and who will be responsible for making sure your wishes are carried out.

This means that you get to choose people who you know will be suitable and who are likely to best represent your wishes.

Executors are responsible for administering the estate, including the distribution of personal effects and the contents of the house.

It is of vital importance that the right people are chosen. If you do not make a Will then the law will choose for you.

If you have no suitable family or friends to act as your executors, or if you think it might be useful to appoint someone from outside the family (to avoid the possibility of arguments) then you can appoint a solicitor to act as executor.

A full and proper consideration of how your dependants are going to be provided for after your death is essential if you wish to avoid an unpleasant (and costly) inheritance disputes arising once you have gone.

Whilst in England and Wales we have testamentary freedom, the law does enable certain categories of applicants to make a claim against an estate if the deceased failed to make reasonable financial provision for them. This includes children, spouses and co-habitees.

If reasonable financial provision is not made a dependant can challenge the distribution of the estate under the Inheritance (Provision for Family and Dependants) Act 1975.

Claims under the 1975 Act can be made whether or not there is a Will.

However, a Will does enable the testator to record their wishes and offer an explanation for how the estate is to be divided. This can be taken into consideration if the Will is contested and it could even prevent a challenge altogether.

Life Interests in property and capital have been used in Wills and estate planning for generations.

A Life Interest entitles the recipient to enjoy the use of the property or the income that the capital generates during their lifetime, and upon their death the asset will then pass to the beneficiary of your choosing.

Life Interests are increasingly popular among people who have remarried. If you are in a second marriage, chances are that you will have children from the first who may not be happy with the idea of everything being left to your new partner.

A Life Interest (particularly in the matrimonial home) is often a convenient way to provide a roof over the head of your spouse or partner and still protect the children’s inheritance in the long term, keeping everybody happy!

You might want to go out to the melodious strains of Vivaldi. Or perhaps you would prefer a bit of Elvis, The Beatles or The Clash. Whatever your preference, making a Will enables you to leave instructions on your final farewell.

Whether it’s a quiet wake or a good old fashioned knees up at your local pub, this is your chance to have a say on your send off. If you have any special wishes about your burial or cremation then this is the place to do it.

You can even specify in your Will that you want to donate your body to medical research.

You may be concerned about who will look after your pets after you have gone. One solution is to nominate someone in your Will who you can trust to make sensible decisions for your animals.

You may wish to consider a modest legacy to help cover the extra costs involved in caring for the animal and meeting food and vets bills.

If you die without leaving a Will, your estate will be distributed in accordance with a rigid set of rules known as the “Intestacy Rules”.

The Intestacy Rules dictate how a deceased’s property and money will be divided. In some situations this will broadly reflect the deceased’s general intentions.

However, in certain circumstances the rules will produce an outcome that is at odds with what the deceased would have wanted and can lead to dependants suffering unintended hardship or family disputes arising.

Learn more about UK Intestacy Rules

In addition to professionally drafting your will(s) a "Safe Storage Facility" is also available to guarantees its safe keeping for a small annual modest cost of just GBP 22.95

Start your UK Will now with our cost-effective online Will drafting service - it couldn't be simpler nor more cost-effective.