Wills and Trusts

Making a Will

Making a will gives you the knowledge and control over what will happen to your affairs when you die. It gives your loved ones peace of mind that they are following your wishes, and it is clear who can deal with things for you.

With a wealth of expertise in the creation and administration of wills in England and Wales, we will be able to guide you through the process of making a will. We will ensure that you understand the practical and financial implications of putting your wishes into effect, in a cost-efficient way.

Many people put off making wills, as they are not in poor health or do not have a lot of assets to leave. There are many reasons to make and review your wills.

If you have not made a will, the intestacy rules will decide where your estate goes, not you or your family. With more people living together, and with second marriages, wills are important to ensure that your assets do go to the people you choose.

With our assistance in the preparation of your will, advice can be given on:

  • Appointment of guardians for your minor children
  • Any funeral wishes that you may have
  • Appointment of executors and trustees
  • Minimising Inheritance tax that may be payable
  • Protecting your assets
  • Reducing disputes on death
  • Protecting vulnerable beneficiaries
  • Capturing inheritance tax, business property relief and agricultural property relief if appropriate

Your will should be reviewed on a regular basis, and particularly if you have a change in your circumstances. This includes a marriage or if you divorce, or if you now have grandchildren and you want them to benefit.

The best advice is to speak to the experts. We have been advising generations of families on all aspects of wills and trusts for more than 300 years. Please don't hesitate to get in touch.

Trusts

In this changing world, families are becoming increasingly aware of their circumstances, ageing parents and grandparents and the need to protect and safeguard family assets for future generations. Trusts can be a useful mechanism for this, and can also be used to help save tax. They can be set up during your lifetime or in your will.

Our experts can advise you on whether they are suitable for your particular circumstances.

Once a trust is set up, the trustees become the legal owners of the assets. With this ownership there comes not only a moral responsibility to the original owner and the beneficiaries, but also a legal responsibility. Since the Trustee Act 2000, the responsibilities of the trustees have become more onerous, and all trustees are under a duty of care to the beneficiaries.

Our experts can provide the advice and guidance to comply with ongoing taxation and administration requirements. We can assist you with this, compiling trust tax returns on your behalf and trust accounts, and we can act as professional trustees if appropriate.

 

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