WILL PLANNING

Less than half of adults in the UK have a Will. For co-habiting couples this figures rises to 70%. Without a Will in place, this means that the intestacy rules apply and the Courts will decide how your assets are distributed on death according to statutory rules. It will also increase the time and pressure on families at a difficult time. The requirements for the validity of Wills is complex and it has been reported that annually around 38,000 DIY Wills fail, resulting in thousands in additional fees and delays.

A basic Will may avoid the process of intestacy, but with clients having larger and more complex estates and with the increase in blended families, clients need to consider a more detailed and professionally drafted Will to achieve their wishes.

A well drafted Will can:

• Protect against Sideways dis-inheritance
• Mitigate future care home fees
• Control how assets are passed down generations
• Allow for how your children will be looked after
• Allow for specific gifts
• Specify your burial wishes
• Ensure your children are protected from the risks of early inheritance tax
• Establish structures protecting against creditors, divorce and excessive spending
• Protect against claims from those who may feel ‘entitled’
• Maximise inheritance for your beneficiaries.

The use of trusts is a vital part of Will drafting and can protect assets for generations to come. It can also ensure that those you wish to benefit can do so, but subject to appropriate conditions. It’s also helpful at this stage to ensure that protection via Lasting Powers of Attorney is in place in the event of an unexpected loss of capacity which could result in the Courts appointing individuals to manage your affairs at a significant cost and with significant delay.

PROBATE SERVICES

Our sister company Fusion Probate Ltd is authorised and approved to provide Probate Services – an area regulated by the Legal Services Act.

This means we are able to manage and deal with your probate, inheritance tax and the administration of estates while ensuring that tax efficiency is at the heart of what we do.

For many families this process is considered very challenging at a difficult time and having professional help can ensure it is dealt with rapidly and tax savings are maximised.

Authorised by the Institute of Chartered Accountants in England and Wales to carry out the reserved legal activity of non-contentious probate in England and Wales.

Details of our probate accreditation can be viewed at icaew.com/probate under reference number C008568662.

Accredited probate firm name: Fusion Probate Ltd
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