OUR SERVICES

WILL WRITING

 

WILL WRITING

A few facts to bear in mind if you are unsure about writing a will:

  • If you die without a Will, it is called dying intestate for which there are rules which dictate how your estate is distributed. These rules will not necessarily coincide with your own wishes, had you written a Will.

  • Many people are worried about the cost of a Will writing service. Do you know that it costs more to deal with your assets if you die intestate, than if you had written one ?

  • If you are unmarried, but living together, no matter how long, you do not automatically inherit your partner's estate even if you consider you are in a “common law” partnership. You may leave yourselves and any children financially vulnerable if you have not made a Will. Only if you are married or in a civil partnership will you have any rights of inheritance and even then, without a Will, you do not necessarily inherit everything.  However complicated you see your situation, it is possible to find a solution in a well-drafted Will.

  • If you have children from previous relationships or you have had more than one marriage, it is important that you lay out your wishes to prevent family disruption when you are no longer here.  

WHY MAKE A WILL?

For the reasons set out above, making a Will is about ensuring that what you have goes where you want it to and looking after the people you care most about. 


A professionally produced Will appoints Executors to administer your estate. It can specify who you would want to be the custodians of your children if you die and it will give directions to your Executors about what happens to specific assets. It can also allow your assets to work in your favour and achieve desired tax and estate planning objectives.

THE PROCESS

We will arrange a visit to your home where we will talk about your circumstances and your wishes, in order to create a document which reflects those wishes.  We can also guide you on any areas which you are unsure about and help you find a solution.  Once a draft is created, we will work together until the document is ready to sign. We are backed by the New Leaf Will Writers Federation (New Leaf (WWF) Ltd) and our Wills are checked by our compliance department before they can be signed off.  We are also insured for professional indemnity to up to £2 million

LASTING POWER OF ATTORNEY

 

WHAT IS A LASTING POWER OF ATTORNEY?

A Lasting Power of Attorney (LPA) is a way of giving someone you trust, your “Attorney”,  the legal authority to make decisions on your behalf, in the event that you lack the mental capacity to make those decisions for yourself.

Many people think of this process as something they would do when they are older, however lacking capacity can happen at any time in your life. What happens if, as a result of an accident, you are in a coma ? That would be deemed to be a time when you lack capacity.  The hard fact is that once you have lost capacity, you are no longer able to enter into an LPA and will have lost your opportunity, with the ability to re-take control being dealt with via an application to the Court of Protection.  This process can be long and difficult and if you need funds for everyday living, it can also have catastrophic consequences. It is also costly to try to regain control via this route.  We can help you to make your LPAs and deal with the registration process on your behalf.

THERE ARE TWO TYPES OF LPA:

Financial & Property Affairs and Health & Welfare Decisions

These are some of the decisions that an attorney appointed under your LPA can make:

FINANCIAL AND PROPERTY AFFAIRS

  • Managing bank accounts

  • Buying and selling property

  • Investing money

  • Paying bills

  • Arranging repairs and maintenance

HEALTH AND WELFARE DECISIONS

  • Where you should live

  • Medical care

  • Dietary decisions

  • Contact

  • Social activities

TRUSTS

 

TRUSTS

Trusts can always sound like a daunting topic or something which people attribute to those who have a large estate, however there are many reasons why a Trust arrangement in a Will might be useful.  

The most common trusts in a Will are :

1. PROPERTY PROTECTION TRUST (“A PPT”)

If you own a Property with another person, you will either own your Property as “joint tenants” or “tenants in common”.  If you are joint tenants you, together, own the Property and on death, regardless of the terms of your Will, the other party automatically inherits the whole Property. If you own as tenants in common, each of you owns a distinct share of the Property and can gift your share in your own Will. We can talk to you about how to convert your ownership (if you are not already tenants in common)  and set up a Trust in the Will to protect your share of your Property, preserve your Residential Nil Rate Band tax exemption and ensure that future events do not cause a disinheritance of any of your children.

2. FLEXIBLE LIFE INTEREST TRUST

This is similar to a PPT but involves all of your estate (and can include the Property or not).  It provides that your assets are put into Trust on your death, with ongoing Trustees managing those assets to provide an income for those who will benefit from that Trust.  It is discretionary in nature and allows the Trustees to make decisions about when and how income and capital are directed throughout the lifetime of that Trust. The Trust will provide a right of income for a spouse/civil partner and protect the assets from third parties.  

3. VULNERABLE/DISABLED PERSONS TRUST

Sometimes it is necessary to set up a Trust to cater for those with more needs than others. Like a FLIT, it is discretionary in nature and works in a similar way.  Again, if this is something you might need, we can discuss in more detail.

PROPERTY PROTECTION TRUSTS

 

A Property Protection Trust is designed to provide a right of occupation and income from your Property whilst protecting the ultimate capital for chosen beneficiaries.

If you own a Property with another person, you will either own your Property as “joint tenants” or “tenants in common”.  If you are joint tenants you, together, own the Property and on death, regardless of the terms of your Will, the other party automatically inherits the whole Property.  If you own as tenants in common, each of you will own a distinct share of the Property and can gift your share in your own Will.  We can talk to you about how to convert your ownership (if you are not already tenants in common)  and set up a Trust in the Will to protect your share of your Property, preserve your Residential Nil Rate Band tax exemption and ensure that future events do not cause a disinheritance of any of your children.

POST DEATH ADMINISTRATION

 

POST DEATH ADMINISTRATION

If you have made a Will, you will have appointed Executors to carry out your wishes. Most people will have appointed a partner or close family member to do the job. Sometimes, on death, the thought of carrying out that administrative task can seem daunting.  If you have found yourself in this position, we can recommend one of our partners who can guide you through the process and potential cost of carrying out the post-death administration.

BEING AN EXECUTOR IS A SIGNIFICANT ROLE FOR WHICH THERE ARE BOTH LEGAL AND FINANCIAL RESPONSIBILITIES INCLUDING:

  • Identifying all assets owned by the deceased (Property, shares and investments, bank accounts and so forth),  valuing those assets and establishing all liabilities.

  • Identifying all assets owned by the deceased (Property, shares and investments, bank accounts and so forth),  valuing those assets and establishing all liabilities.

  • Identifying beneficiaries contained in the Will 

  • Preserving property until it is ready for sale or distribution

  • Completing and submitting tax returns

  • Paying any tax due out of the estate

  • Applying for a Grant of Probate

  • Setting up any Trusts contained in the Wills where separate Trust arrangements might be necessary

  • Collecting in all identified assets

  • Selling Property

  • Distributing Assets according to the wishes contained in the Will.

If this is something which feels too daunting for you , we can put you in contact with our partner Premier Solicitors will review the estate you are dealing with and give you a quote to carry out this task for you.

 

You can also name our Partners in your Will if you are clear that you would prefer to appoint a professional Trustee.

FUNERAL PLANS

 

OUR TRUSTED PARTNER

We can recommend our partner Golden Leaves, who can provide you with a quote for a funeral plan giving you the comfort that, when you die, your funeral and other expenses are covered.

Langdale Wills

Covering, Oxfordshire, Berkshire, Buckinghamshire

07449320422

01189462511

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