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Why make a Will

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Services for Individuals

WILLS, PROBATE AND TRUSTS

WHY MAKE A WILL?

If YOU want to decide who inherits your property; if you wish to appoint guardians to look after your children; if you would prefer to minimise your liability to inheritance tax; YOU need to make a Will.

Many people do not realise that if you do not make a Will your estate will be distributed as follows:

If you are married with children:

  •    your spouse receives everything up to £125,000 plus personal possessions;
  •    anything remaining is divided in two:
  •    half in trust to your children at 18
  •    half in trust during your spouse's life and on your spouse's death this half goes to the children

If you are married without children

  •    your spouse receives everything up to £200,000 plus personal possessions;
  •    anything remaining is divided in two:
  •    half to your spouse
  •    half to your parents (if no parent is living, then this half goes to your brothers and sisters or their children)

If you are widowed or single


  •    your estate will be divided among your children, parents, brothers and sisters or nephews and nieces.

The administration of an estate without a Will can be very expensive. It may be ncessary to carry out extensive searches to trace your blood relatives. Do you want a distant relative you do not know, inheriting your estate? Making a Will can avoid this.

If you live with your partner but are not married, your partner will NOT receive anything under these rules. This is likely to cause severe financial hardship to your partner. The option available to your partner will be expensive court proceedings to apply for financial provision from your estate. YOU can avoid this by making a Will.

ESTATE PLANNING

When advising all clients in relation to their Wills, we consider whether inheritance tax will have an impact on their estates. Inheritance tax is payable on the value of lifetime gifts and gifts on death

Upon death inheritance tax is payable on estates over £300,000. With property prices rising, will your estate be taxable? We can advise on ways to reduce the overall burden of tax on your estate and on the tax consequences of lifetime gifts.

We do not offer standard package Wills. We believe that every client is an individual who should receive full individual advice. Wills are drafted to suit the individual needs of each client.

A Will is an important document. For this reason, whilst we are happy to take instructions for a Will in writing, we do ask that all clients attend at one of our offices, or that a home visit is arranged, for the purpose of signing their Wills. Most clients find that a meeting to discuss their requirements is beneficial to them.

To assist with the gathering of information at an initial meeting to discuss your Will or if you wish to give instructions in writing, please print off and complete the Will Questionnaire via the link to the right of this page

*inheritance tax allowance increased from time to time
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