Wills

What is a will?

Your will is simply a legal document that makes your wishes quite clear, as to what you would like to happen to your money and property after your death.

Why make a will?

Making a will can put your mind at rest, ensuring that your hard-earned assets are dealt with according to your wishes. If you die 'intestate', that is, without a will, your assets will be distributed by set rules which may well not reflect those wishes. For instance, unmarried partners and step children are not legally able to benefit from an estate without a will. There also are restrictions on how much a surviving spouse can inherit which are unlikely to be what most of us would want.

A will can also be a useful mechanism for tax planning and protecting your wealth for your family members.

Importantly, having a will makes it easier for your relatives to deal with your estate in that difficult time after your death.

What can I include in my will?

It's your will, and it must reflect your wishes in the way that you want. It can be as straightforward or as detailed as you require. We are here to help, advise and ensure it is just as you would like it.

Here are just some of the things that you can specify in your will:

• Name relatives, friends or professionals who you trust, as executors, to administer your estate after your death, according to the terms of your will.
• Appoint someone to be a guardian for your children.
• Provide for your family just as you’d like to.
• Leave treasured possessions or other assets, including pets to people who you know would love and care for them.
• Give money to charities, your place of worship, or to friends.
• Make provision for your partner if you are unmarried.
• Give someone the right to live in your home for a certain time after your death.
• State your funeral wishes.
• Create trusts, which specify what certain sums must be spent on. (e.g. a child's education)
• Minimise possible liability of your estate to inheritance tax.

We are able to give you expert advice on these or any other requirements. We will also consider with you, any possible consequences for your beneficiaries of the gifts that you are leaving them in your will.

All wills should be reviewed at least once every 5 years or when your circumstances change. Please note that a marriage automatically revokes an existing will, unless the will has been drafted in contemplation of that happy event.

Codicils

What is a codicil?

A codicil is a legal document which amends or changes your will. It is read or presented alongside the existing will.

Why make a codicil?

Adding a codicil is an easier (and cheaper) way of changing something in your existing will without having to make a complete new will. It is useful if you want to make small changes. If you want to change a substantial number of things in your will, or if you want to change the main gift, then we would suggest that you do make a new will.

What can I put in a codicil?

A codicil would be useful if any of the following small changes apply:

• You wish to change an executor. (Someone previously appointed may have died, moved abroad or simply be unsuitable now)
• You wish to add in the appointment of a guardian. (Because you now have a child or children, and did not when you made your original will)
• You wish to add in a small cash gift to one or more people.
• You wish to take out one particular clause of your existing will.

Living Wills

What is a living will?

A living will is a document which allows you to express in writing what type of medical treatment would want to receive, if any, in the event that you are unable to communicate this information or have lost the mental capacity to do so.

It may also be referred to as an “advance directive” as it is a means of setting out your wishes in advance of such a medical situation arising.

Why make a living will?

Although there is no legislation covering living wills, there are cases which show that when a competent patient, with a full understanding of their circumstances has made a living will, their wishes have been binding on the doctors treating them.

What can I include in a living will?

This is a very personal document relating to your own particular medical situation and preferences. It should ideally be drafted in consultation with your doctor or medical professional.

Statutory Wills

What is a statutory will?

This is a will which is made on behalf of someone who no longer has the mental capacity to make a will themselves. Its purpose is to protect their interests and it is done by way of an application to the Court of Protection.

Why make a statutory will?

It may be desirable for someone to make a statutory will for any of the reasons outlined in our ’Wills’ overview.

It may also be necessary to make amendments to the existing will of someone who has now lost capacity to do so. Some examples of when this may be appropriate are:

• if the executors appointed in an existing will have died or lost mental capacity themselves.
• if it would be possible to save money in the estate through tax planning.
• if further gifts should be included in the will.
• if particular beneficiaries need to be removed from a will.

Click here to download our 'Will Questionnaire'