Writing a Will and Inheritance Tax
Ensure your estate is left to the beneficiaries of your choice and minimise the risk of a dispute arising in the future.
Having a valid Will in place is important to protect the assets in your estate and ensure that they are passed on to your chosen beneficiaries. If you do not leave a Will, then some people could be left without an inheritance, even if you meant for them to receive something.
They could bring a legal claim if they believe they are entitled to support from your estate. There is also an increased risk of family disputes arising after your death if people differ about what they think your wishes might have been.
A Will can also be used to appoint guardians and trustees where appropriate to look after any children and/or any money that has been left to them.
At Milton Keynes based Heald Solicitors, we can draw up a bespoke Will that is tailored to your unique situation. We understand that you will probably have questions and if you would like to ring us, our friendly and approachable team will be happy to answer them.
We have also included some of the more common queries we receive below:
We can draw up a Will that leaves a life interest in your share of your home, or other assets, to your spouse or partner. This means that when they no longer need it, it will pass to your choice of beneficiary.
By leaving your spouse a life interest in your assets, these assets will be protected from being spent where you might not want, such as on care home fees or debts they may accrue. It will also prevent the assets from being left to someone else in your spouse’s Will.
Yes. Your Will is your chance to make sure your children have the guardian of your choice. If you do not leave a Will, then the court will choose who will look after them and it may not be the person you would have wanted.
A Will automatically becomes invalid when you marry unless it states that it has been made in contemplation of the marriage. If you are thinking about getting married, we suggest you make an appointment to speak to one of our expert solicitors and we can help you put the right document in place for your future needs.
It is recommended to review your Will at least every 5-7 years as there are regular changes to the law, particularly in relation to Inheritance Tax. By reviewing your Will regularly, you can ensure that your estate does the best that it can for your loved ones. You should also review your Will if you experience any major life events in your family, such as the birth of a child, grandchild or a divorce, or if anyone named in the Will as an executor, guardian, trustee or beneficiary has died.
Sadly, Will disputes are not uncommon as people deal with disappointment and misunderstandings at what is already a difficult time. Our solicitors frequently act for families where a Will disagreement has arisen, and we have an excellent track record of success in resolving these issues for our clients satisfactorily.
For more information, see Wills disputes.
At Heald Solicitors, our Wills lawyers can ensure you have the right Will in place to protect the assets in your estate and provide for your loved ones in the future. While our office is in Milton Keynes, we are experienced in working with clients throughout the UK, often remotely, meaning that you can expect the same expert legal advice and excellent client care wherever you are located.
If you wish to talk to us about having a Will drafted or reviewed, please contact us.
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