Do you need a Trust written into your Will?
In certain cases, a trust written into a Will is advisable, as an example where a couple have children to a previous relationship and they wish to ensure their assets pass to them on the death of the survivor, or in other cases where inheritance tax planning is required.
A trust in a Will is an arrangement where two people have an agreement about the use and protection of a family home, property and other assets for the benefit of the survivor of a couple along with other beneficiaries i.e. children of the deceased. The trust is created by the Will upon death. Trusts in a Will may also be taken out by a single person.
As with many people, your home is probably your biggest asset and you are very keen to protect your share of your home, whilst also prioritising consideration for the surviving spouse/partner. A trust in your Will is ideal in these circumstances, especially where there are children to a previous relationship.
There are various trusts available for different circumstances, they can be quite complex and they require good explanation to you on their good and potential down sides, how and when they need to be set up after your death,, what can and cannot be done in them along with the possibility of any ongoing maintenance required in them.
It is important to be aware that certain Trusts contained within a Will must be registered with the HMRC Trust Registration Service by the trustees once the Trust comes into play.
Making your Will is very important to you whatever the size of your estate is. We receive a large amount of telephone calls from distressed relatives of a deceased person because they have died without making a Will, (probably because the felt it was unnecessary) or the deceased did actually make a Will but no one can find it. When this happens, intestacy takes over and the law passes the deceased estate, it's black & white and it very probably will not reflect your wishes.
To avoid any of these unfortunate situations happening to you, simply contact us right now for a chat and we will happily see how we can help you.
Don’t keep putting off, or find a reason not to do a Will. We hear so many comments like, “I need to think about it first” “I’ll have a word with my family first” “I’ve got nothing to leave” “I don’t want to tempt fate”.
If any of the above rings a bell with you, give us a call or book an appointment and you’ll be surprised how easy and cost effective drawing up your Will with us can be.
One of the most frequent comments we get as the Will is signed, dated and witnessed is “I’m so relieved I’ve finally done this now, it was quick and easy”.
The information on the website is comprehensive, but if you are like us, we believe a face to face meeting over a cuppa is the best way, as it’s far easier to explain and understand.
We offer a confidential, comprehensive and caring Will writing service for our clients. Our aim is to talk in a plain, simple and clear language that our clients are easily able to understand. We deal regularly with people who are hard of hearing, or who have mobility or eyesight issues.
We will visit you in the comfort and safety of your home to discuss your particular circumstances.
Having a professionally drafted Will can help to ensure the above worries are covered for you.