Making a Will is something that is often overlooked, but once in place, you can relax in the knowledge that your loved ones will be looked after when you die, and your estate is divided according to your wishes. Sound legal advice and careful planning can also be very important in terms of inheritance tax planning.
We offer a full Will writing service, taking care of all the necessary legal documentation, form filling, and tax planning. Speak to one of our team today to make an appointment, or for a free, no obligation telephone consultation.
Preparing a Will
It is a good idea to some notes prepared before you speak to your solicitor about your Will. Making a list of your entire estate (your property and belongings) is a helpful start to the Will making process, as well as a list of beneficiaries. It is also a good idea to provide a residuary beneficiary name, should your beneficiary predecease you. When writing your Will, your solicitor will recommend you include who you wish to be executors of your estate (those responsible for seeing the terms of the Will are carried out). You can also make arrangements for your children should you die before they grow up, as well as make a statement on the details of your funeral arrangements. and your views on other areas such as organ donation. This kind of information will be a huge help to relatives at a what can be a difficult time for families.
We can advise you on the best arrangement for your Will; there are a few options to consider, and it is important you choose the right option for you.
For example, there are many types of Will you can draw up, including: –
A single Will for an individual; Mirror Wills; this is where a couple writes Wills that are broadly similar; Wills for blended families; this is where there is provision for a new partner, and provision made for children from a previous relationship. There are also options for making Wills containing trusts, either for specified beneficiaries or a group of potential beneficiaries.
Our solicitors will discuss your options with you, and advise on the best type of Will for the outcome you desire.
Inheritance Tax Planning
We always ensure that your Will is written with Inheritance Tax in mind. In the absence of careful tax planning, families can lose thousands of pounds more than is necessary to taxation. This is where writing your own Will can be very risky. We provide bespoke tax planning advice alongside our Will preparation advice, ensuring you and your loved one’s interests are properly looked after.
Reviewing Your Will
It is highly advisable once you have a Will in place to review it periodically. It may be that you have had more children or grandchildren since you last reviewed your Will; you may have married or have separated from your partner; your assets may have increased or decreased (an increase may affect Inheritance Tax); or the value of your house may have significantly changed, which may mean you want to re-look how your Will is distributed.
We would recommend revisiting your Will every five to six years. We provide a Will reviewing service, making recommendations on how to progress should your Will require amendment, whether it be a full Will re-write or the addition of a codicil (an official attachment to a Will). Get in touch with our team for more information or to arrange an appointment.
If you are an executor of a Will, or if a loved one has died without leaving a Will, get in touch with us today to discuss how we can help. We provide a range of probate services from grant only service to a complete probate service, taking care of every detail.
Contact our Wills Solicitors Chingford
If you are looking to make a Will, or need advice on probate, contact us today. We aim to exceed our clients’ expectations by offering robust legal advice and paying a high level of attention to detail in everything we do. We always operate a confidential and personal service to our clients. Speak to one of our team today for a free, no obligation telephone consultation.
Have a question? Call us on 0203 875 5090 or Email: email@example.com for free call back