WillsA Will is one of the most important documents we will need in our lifetime and is crucial when planning for the future. Due to its significance, it is essential that your Will is drafted by a suitably qualified professional and reviewed every 2-3 years or following a change in your circumstances.
Not only are there important legal requirements which must be adhered to if a Will is to be valid upon death, but skill, experience and a detailed knowledge of case law, capacity and legislation are all needed to ensure that a valid Will, when relied upon, does what was intended and does not cause unnecessary legal and taxation complications, financial cost and emotional distress.
Wills prepared professionally can address a multitude of issues from providing for surviving spouses and partners, to protecting assets for children and grandchildren, providing for vulnerable beneficiaries and mitigating exposure to tax and potential claims by predatory third parties.
Typically, the level of sophistication needed in a Will may not always be determined by the extent of a person’s wealth but instead by the complexity of their personal circumstances and relationships. Family dynamics, as we all know, can be complex and so the preparation of a Will can be a delicate process.
Certain assets may, of course, require special treatment and consideration, such as business and agricultural assets. Where the mitigation of tax is important, such as Inheritance Tax, basic Will arrangements may not suffice and where specific bequests are desired, such as leaving assets to designated beneficiaries upon attaining a certain age, Trusts may provide a better solution.
We help our clients understand the full potential that a well drafted Will has to offer and the opportunities it can afford them, their families and beneficiaries in terms of controlling assets, saving tax and protecting family wealth. We also understand the limitations of basic Wills and the need to consider other arrangements such as Powers of Attorney and Trusts to provide complete advice and planning solutions.
As accredited members of the Society of Trust and Estate Practitioners (STEP), our lawyers have the highest levels of expertise in the preparation of Wills and must adhere to a strict code of practice. We pride ourselves on our depth of knowledge, discretion and ability to help our clients see the bigger picture, all of which serve to surpass our clients’ expectations and provides a more comprehensive service which ultimately results in better prepared Wills tailored to individual circumstances.
Our team can advise you on:
- Trust arrangements created by Wills
- Capacity issues relating to Wills
- Estate, wealth and tax planning
- Providing for vulnerable beneficiaries
- Challenges to Will arrangements
- Estates with foreign assets