Will Writing is certainly a skill. Primarily, the will has to be drafted to ensure that it reflects your wishes accurately and as tax efficiently as possible.
Each year financial legislation changes the rule books, so wills should be reviewed regularly, even if you have made one in the past.
Without a will you are in a precarious situation, leaving the government to handle your estate ( this is called intestacy) and strict rules are enforced.
When drafting a will it is essential to obtain accurate, current information as to your assets and liabilities and to ensure that the assets you own actually form part of your estate and may given away under your will. Many people incorrectly assume that their house can be gifted by their will. It can be, but it depends how the title is held, otherwise it may pass according to property succession law and not necessarily by your will.
We can assist you in safeguarding your children’s inheritance by including clauses appointing Guardians who will be responsible for the upbringing of your children should you die prior to the children reaching the age of 18.
Parental responsibility is extremely important and whether single, married or a civil partner you need to consider , if you have responsibility of children, as to who is legally responsible for their care. If you are single with children certain restrictions may apply as to who has the legal responsibility and it may be contrary to your assumption.
Frequently a trust may be appropriate for inclusion in the will. Several options are available including those used to minimise tax, protect disabled children, create a family trust fund or protect business or farming assets.
Anyone who is a director of a limited company or a partner in business should consider the effect of the company articles or partnership deed on the terms of the intended will . A sole trader business cannot continue on death and forms part of your estate.
Whether a single person, married or civil partner, we can assist you with your will writing requirements, giving you total peace of mind that your loved ones will be looked after.