Wills & Trusts
It isn't pleasant to think about your death, but a little preparation now could help save your family a lot of problems at what will already be a difficult time.
Most people believe that if they die their possessions will automatically pass to their family. This is not the case – the Laws of Intestacy will decide how your estate will be distributed. Making a Will is the only way you can decide who is to receive your estate.
For example, not all married couples or civil partners automatically inherit from each other. In some cases when there isn't a Will, the estate is split between the spouse and the children. This can lead to a bereaved spouse having to sell the family home as other relatives are entitled to a share of its value. For unmarried couples, the partner is not legally entitled to anything if a Will hasn't been made.
Making a Will is relatively straight-forward and inexpensive and helps remove the stress and worry from your family at this difficult time. It can also help minimise inheritance tax liabilities and administration costs.
We also recommend that you review your existing Will regularly as it may need updating to reflect any changes in your circumstances.
Trusts
Trusts can be one of the most effective ways to pass on your assets. The main reasons for setting up trusts are to minimise inheritance tax and to meet specific objectives such as the education of children.
Our experienced team are here to help you with all aspects of Wills, Tax Planning and Trusts.
