Wills Articles

The Discretionary Trust is a common Trust for a Testator to use for their children to ensure that they do not inherit directly from their estate. The reasons for this can vary, for example, protecting assets from potential divorce, drinking or gambling issues, or the testators may wish that their assets are distributed in a particular manner or at certain points in their children’s lives that are outside the capabilities of the Will itself.

Business property relief can significantly reduce or eliminate inheritance tax on business assets. Many UK businesses could be eligible for up to 100% relief. However, this complex area of estate planning often necessitates additional professional advice.

Should it be done: Usually, no. Of course, it depends on the reasons and individual circumstances. Clients often tell us that either an advert on Facebook, usually with brightly coloured writing, or “Dave” down the pub said it is the best thing to do to avoid “well basically” everything from probate to care fees.

By including a right-to-reside clause/ trust in your will, you specify that you give someone the right to live/reside in one of your properties. You can specify within this clause if this arrangement is for a set time, such as for the rest of the person’s life.

I had just left my chair, and Murphy jumped straight into my spot. I casually said, "Jump in my grave, why don't you? "An innocent phrase used by many of us. It reminded me of current plans for reopening closed burial grounds to address the issue of limited space in urban areas.

This is the standard way of providing the executors with the technical and routine provisions they need to administer the estate properly. In particular, this authorises professional executors or trustees to charge for their work.

Complex families often come with complex requirements to meet their long-term goals, and matters can be made more difficult when each testator has separate goals or concerns in mind. These goals usually revolve around the inheritance the children are to ultimately receive and when they receive it, and in certain cases, if they inherit at all. Using a Life Interest of the Residuary Estate can cater for most family needs for a number of reasons;

We should always consider Pets (the furry, scaly, feathered type). You may be pleased to know you can make provisions for them in your Will. Pets can be included in your will through an animal-purpose trust, which ensures their care and upkeep.

These are common questions regarding Wills, Trusts and Powers Of Attorney. All answers are simplified for the article; please get in touch with us directly for a fuller and personalised answer. No content on this website is advice.

Being appointed as an executor is a responsibility at a time where they are grieving the loss of a loved one.

Many people don’t realise the effects getting married or divorced can have on your estate, whether you die with a Will or intestate (without a Will).

If someone dies and their estate is worth more than the basic Inheritance Tax threshold, their estate may qualify for the residence nil rate band (RNRB) before any Inheritance Tax is due.