Our Wills, Trusts and Probate services can help you plan for your family's future
If you have dependents and want to plan for the distribution of your assets in the event of your death, we can help you. Among other things, our specialist lawyers can advise on the following:
- Wills - A professionally-written will can help you formalise the way your money and assets will be distributed and even be written to take account of certain changes in the future.
- Trusts - You may wish to wait until your beneficiaries reach a certain age, or use your estate to pay for education fees over a number of years. A trust can help you plan the distribution of your assets over a longer timeframe.
- Probate - We can also help you to distribute the assets of a loved one if they have a valid will in place and have appointed you as an executor.
- Lasting Powers of Attorney - It pays to plan ahead and ensure that your loved ones can make decisions on your behalf in the future, if you lack the capacity to do so.
- Inheritance Tax Planning - With the right advice, you may be able to distribute your money and assets in a more tax-efficient way to help reduce the financial burden for your beneficiaries.
Contact us to arrange a time to discuss your requirements and we can start the process of planning for your family's future and we'll explain the benefits of having professional, specialist legal advice.
Do you really need a will?
We're often asked this by clients - especially those who feel that their assets and finances are relatively simple. However, a will can have many more benefits than simply explaining how you wish your money and assets to be distributed. These will help your loved ones and beneficiaries in the event of your death and can include:
- Digital Assets - As well as your financial assets, you can now leave login details for your digital assets, such as your Social Media accounts, mobile phone or cloud storage accounts. That way, your family can still keep hold of your digital photos and all the memories that come with them and close your social media accounts if they choose to do so.
- Speed up the probate process - Probate - the process of executing your will and carrying out your wishes - can be a slow process. In some instances, the presence of a valid will could make the process quicker and simpler for your beneficiaries. It can also reduce the risk of any disputes over your wishes in future.
- Tax efficiency - You may find that with the right advice, a valid will could help your beneficiaries to minimise the amount of Inheritance Tax they pay on their inheritance. We can provide specific advice based on your personal circumstances to explore this area further. Inheritance Tax is a complex area so it pays to plan ahead when putting a will in place.
- Creating trusts - You may wish to stage payments to your beneficiaries over a longer period of time. For example, you may wish to pay for education fees or pass money to certain beneficiaries when they reach a specific age. Trusts can help you achieve this and can also help you be more tax efficient in the distribution of your assets.
- Charitable donations - You may wish to leave a legacy to a chosen charity or organisation. Many people do this through informally making a family member aware of their wishes. However, a valid will can make this process much simpler.
The full benefits of having a valid will in place can vary, based on your personal circumstances. Our wills, trusts and probate specialists are happy to discuss your wishes with you and help you draft a will that helps you and your beneficiaries in the event of your death.
How do you get started with creating a will?
The first step is very simple - just message us through the website and we'll come back to you to arrange a time to speak in more detail. This could be in person, or via the phone or an online meeting. From there, we'll explain the full process of getting a valid will in place. Although there are some formalities involved - such as having your will signed by witnesses - we will explain every step as simply as possible to make the process easy for you.