Wills, Trusts and Tax
It is important to make a Will. Significant difficulties may face the next of kin of a person who dies without one and property may not end up as the deceased would have wished. It is equally important to review a Will so that it keeps pace with changes in personal circumstances or to the law.
At present it is possible to change a person’s Will after their death by agreement of the executors and all those beneficiaries affected by the change, but they have to be able to consent, that is, they have to be adult, and have mental capacity. It is not possible to bring a Will into existence or to create a new gift to charity, but the statutory provisions for those without a Will can themselves be varied by agreement. Problems arise if a beneficiary is a child or a mentally incapable adult, or if the family need to vary the Will or statutory provisions. A well drafted Will, following a discussion of all the relevant details will go a long way to avoiding these problems.
Wills can be used to establish trusts that outlast the duration of the administration of the deceased’s estate, and we advise on the opportunity for tax and estate planning.
Have you registered your Will?
We can now register your Will for you and there may be a small registration charge.
Why should I register my Will?
If your Will is deemed lost or indeed never written your loved ones and benefactors are exposed to potential financial loss and obviously additional stress.
We hold your Will safely, but we digitally record its location on the Wills register so that benefactors can always locate it when the time comes.
It is a fact that the majority of people (67% in a recent survey) would not know where to locate parents Wills. The passage of time, house moves, and new relationships are all contributing factors to this statistic.
How Do I Register?
Simply call, write or email us email@example.com
to request that we register your Will today.
Some aspects of Wills are obvious; some are less obvious given the passage of time. People often make Wills and then do not make further Wills for 20 or 25 years. Lots can change. There is a danger of your wishes being undermined by events.Gifts of Bank Accounts and...read more
When clients come to solicitors, they do so that when they die, their wishes are carried out. In unusual situations, where there has been duress or the person making the will has some form of mental illness, a will can be overturned. For most people, there are some...read more
Here’s something to think about when you are leaving a house in a Will. You own the property on your own This might seem straightforward; you can name the property and leave it to whom you want in your Will. There are dangers in naming specific properties. You own a...read more