When Professional Help Is Essential

By Stan Taylor Written on:




Want to make a start on your will?

Making a will is simple

Making a Will is not about wealth it is about making sure that what you want to happen to your estate does happen. It gives you the opportunity to specify such things as who will administer your estate, who will care for your children and who will receive specific items of your property.




There are a number of situations in which it is absolutely vital to seek professional assistance either because the result you want to achieve is too complicated for home-drafting or your assets are of a type to which special tax concessions apply.

The following sections should enable you to identify these situations and organise your paperwork before visiting a solicitor.

There are some common situations in which you will need more than a simple will:

1. Where your estate is going to be over the threshold for inheritance tax.

2. Where you have business assets.

3. Where you have foreign assets.

4. Where you wish to make provision for a handicapped child or a child with a problem such as a gambling addiction.

5. Where you have a second family.


Want to read about - Post-execution Considerations - Tax or Post-execution Considerations - Example


Will Making basics

Free Will Sample download

see: Making a will - The Law Society. Please note that will making differs in Scotland and this website currently deals with English laFree Will download

 

Perhaps you might consider taking legal advice from a solicitor about making a will if any of the following apply to your circumstances:

 

  1. A number of people could make a claim on your estate when you pass away because they depend on yourself financially
  2. You want to include a trust in your will (perhaps to provide for children, to save tax, or simply protect your assets in some way after you become deceased)
  3. Your physical and permanent home is not in the UK and / or you are not a British citizen
  4. You live here in the UK but you have additional property abroad
  5. You own all or part of a UK business.
  6.  

see: Making a will - The Law Society. Please note that will making differs in Scotland and this website currently deals with English law.

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