Your Will should be as individual as you are.
There are many benefits to making your Will:-
* You can appoint Executors who will arrange your funeral; manage the finances of your estate and control the administration process before distributing your estate to your beneficiaries
* You can appoint Guardians to take care of your children who are under 18
* You can gift legacies of money or bequests of items to your nearest and dearest
* You can state who your beneficiaries will be
* You can state your funeral wishes
There are cases where people believe their partners / children will automatically inherit their estates and this isn’t always the case. Examples are:-
* If you have children from a previous relationship
* If you own a home or asset jointly with another person
* If you are unmarried partners
* If you have step children
* These circumstances can all be catered for in a correctly drawn up Will.
Many people are conscious of the cost of future care and it is possible to mitigate care costs by the incorporation of a Property Protection Trust (this is most commonly used in the Wills of spouses; civil partners or partners). Please contact us if you would like to investigate this further.
In some family circumstances, discretionary trusts are appropriate. This type of trust means your Trustees decide what, if any, distributions are made to your beneficiaries and all decisions are entirely at the discretion of your Trustees. These trusts are often prepared alongside a letter of wishes which is an informal letter to your Trustees setting out your intentions for the purpose of the trust.
There are other situations which prompt people into making new Wills:-
In the case of a couple who own their own home, care home fees can be mitigated
If you plan to marry or form a civil partnership with your partner
If you have children from a previous relationship
Your Will can be as straightforward or complicated as it needs to be to suit your needs. Whether your personal circumstances are straightforward or trusts are needed, your new Will can reflect this.
We aim, so far as possible, to have fixed fees for Wills and the following is a guideline of expected costs:-
* Single straightforward will £120
* Mirror straightforward Wills (for a couple) £230
* Property Protection Trust Wills (for a couple) £450
* Discretionary Trust Wills £450
If a change is needed to your deeds-
* Notice of Severance of your joint tenancy £100