Many people want a simple Will that leaves everything to each other and then to their children or grandchildren.
However, many other people have more complicated family situations or want to protect assets from certain people or for eventualities; second marriages, children from previous relationships, wayward children or dependent family members.
We can draft Wills that achieve this by using Life Interest Trusts.
Many people are frightened by the thought of a trust and don’t explore the possibilities. They can be a very simple and effective way of achieving what you want.
Inheritance Tax Planning
Most estates don’t have to pay Inheritance Tax (IHT) as they are below the current threshold of £325,000 (£650,000 for married couples) but some do.
Although the thresholds are changing over the coming years with the introduction of the Residential Nil Rate Band (RNRB) there are plenty of other things that you can do to reduce the potential liability.
The best tax planning is during your life by utilising the reliefs and exemptions available. However there is also planning you can do in your Will or via trusts. We can talk you through, in plain English, the best solution for you.
What our clients say…
Thank you for your guidance through all the aspects involved with writing a will. You offer a comprehensive Will writing service with advice on inheritance tax, lasting powers of attorney and probate and how to find peace of mind.