Will Writing

Why a will is important

Making a will is the only way you can determine what happens to your property, your money and belongings after you die. It also allows you to make provision for the care of any children under 18.

• Unmarried partners
  It is particularly important to have a valid will if you are in a relationship but not married. Unmarried partners (and partners who have not registered a civil partnership) cannot inherit from each other unless there is a will. So the death of one partner may create serious financial problems for the remaining partner.
• Children
  If you have children aged under 18, you should make a will, so that arrangements for their care can be put in place if either or both parents die. You are never too young to put these safeguarding measures in place.
• Inheritance tax
  Your ‘inheritance’ is the money and property you leave behind which others will inherit. This can attract inheritance tax at a rate of 40% if it exceeds the threshold amount. We can help you mitigate your inheritance tax liability via a well structured will.
• Changing circumstances
  If your circumstances change, it is important that your will reflects your wishes regarding the distribution of your estate. Sometimes people change their will if, for example, they are separated and their former partner now lives with someone else.

If you marry or enter into a registered civil partnership, this invalidates any previous will you have made.

If you have any questions about making or updating your will, you should consult a solicitor.

Rules of intestacy

If you die without a will, there are rules which dictate what happens to your money, property and possessions. These are known as the rules of intestacy. This may not be how you wanted your money and possessions to be distributed.

People with significant estates

People with a high net worth are likely to attract far more inheritance tax on their estate. This means that those family and friends they wish to benefit, following their death, can see their share of inheritance cut by up to 40%.

By consulting our specialist team, we can ensure that your loved ones receive every penny that they are legally entitled to, instead of losing out to HMRC.

Reviewing your will

Your will reflects your wishes and your life circumstances at the time you make it. Over time, circumstances change. You may marry, separate or divorce. You may have children. You may find causes close to your heart. Whatever the reason, the will you made five years ago may not reflect your feelings today.

That is why we encourage clients to talk to us and review their will on a regular basis. This procedure ensures that, whenever you pass away, you have done the very best for those you care about.

Helping you to help others

Through their will, people typically leave money, property and belongings to their loved ones: to spouses, partners, children, family and sometimes friends. Some people wish to go further, however. They may have developed allegiances to a particular charity or good cause. They may wish to leave a specific item or a particular gift to a club or society they feel strongly about.

You may not be aware just how you can design one-off gifts or donations through your will. Our experienced legal team can help you make provision for those people and things you care about and who you wish to be remembered by.