Wills, trusts, and estate planning

Wills, trusts and estate planning

We all work hard to provide security for the people we love and effective estate planning is the best way to ensure your Will can do what you need it to.

Without a valid Will, the law decides who inherits and that result can be very different from what you would choose.

We explain the options in plain language and help you put practical, reliable arrangements in place.

Why make a Will

A valid Will gives peace of mind and lets you:

• Choose who receives your assets and when they receive them.
• Appoint an executor to carry out your wishes.
• Name guardians for children.
• Provide for vulnerable relatives who need ongoing support.
• Include the correct type of asset protection trust.
• Consider Inheritance Tax mitigation.

If you die without a valid Will, the rules of intestacy apply and only spouses or certain relatives inherit automatically.

Unmarried partners do not inherit automatically under those rules, no matter how long you have lived together.

That can leave loved ones unprotected and lead to family disputes.

We strongly recommend getting a valid and well thought out will in place and reviewing it after major life events such as marriage, divorce, births, deaths, inheritance of property, retirement or a significant change in health.

Our approach

Our private client team combines technical expertise with a sensitive, practical approach.

We:

• Listen to your family and personal priorities – our Wills are tailored to you.
• Explain the legal choices and the practical consequences.
• Draft clear, robust wills that reflect your wishes taking into account the taxation rules at the time to manage inheritance tax exposure with you.
• Advise on and create the right type of trusts for asset protection purposes, tax planning or vulnerable beneficiaries.
• Offer home visits for elderly or infirm clients unable to attend our offices.
• Give clear and detailed explanations of all our Wills as well as going through them with you at a face-to-face meeting.

As well as being qualified solicitors, several members of our team are members of STEP and the Association of Lifetime Lawyers.  You will have a dedicated adviser allocated to you.  To offer a holistic service we have many contacts with other experts – such as financial advisers, accountants, valuers and genealogists.

Intestacy: what happens if you die without a Will

Dying without a Will, called intestacy, means the state applies statutory rules to distribute your estate.

Your spouse or civil partner will have rights under the intestacy, but depending on the value, may not receive all your estate.  Unmarried partners do not have any rights.

There is a statutory list of other relatives who can benefit in a certain order.

The rules are technical and an administrator can be held personally liable for incorrect distributions, so legal advice is important before making any distributions.

Trusts – what they do and why you might use one

A trust is a legal arrangement where nominated trustees hold assets for the benefit of others.

Trusts are useful when you want to:

• Protect assets for children, vulnerable or disabled beneficiaries.
• Control how and when beneficiaries receive money.
• Allow individuals receiving means tested benefits to benefit without losing their entitlement to the state benefits.
• Appoint trustees to manage assets long term.
• Protecting assets on the first death of a couple by including life interest trusts.

Trusts can be created during your lifetime or by your will.

Trustees have legal duties to act in the beneficiaries’ best interests and to keep proper records.

We can advise on the right kind of trust for your family and support trustees with setup and ongoing administration.  We can also advise on existing trust structures.

If you are looking for advice on writing your Will, setting up a trust or planning for the future, please speak to our expert solicitors.

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