£300 per Will
Life has many twists and turns, marriages, break up, and re-marriage. It is important to ensure your legacy is passed onto those you choose, not those who are automatically next in line.
Many clients assume if they leave everything to their children, any inheritance, would then automatically pass down to their grandchildren. Unfortunately, a standard Will, or what many refer to as mirror Wills, will state that your grandchildren would only inherit if their Mother or Father dies before them. This means your grandchildren may not receive any part or any of your legacy.
Meaning your wishes may not be met and could leave money to one or more of the following:
· Your Childs ex-spouse
· Your Childs new Wife or Husband
· New Step-Grandchildren
· Local Authority
· Your Child's creditors
It is important you plan your Will correctly and ensure your heritage and legacy is passed onto those whom your wishes dictate.
A Family Protection Will helps to control what happens to any inheritance after you have passed away by using a Discretionary Trust. A Discretionary Trust is a flexible trust under which no beneficiary has an automatic right to receive assets. Instead, it is the trustees who have the power to decide who, from a list of beneficiaries, should receive the money or property held in the trust, and when.
If you would like to leave money to a disabled person or to someone that struggles to look after their finances, then a Family Protection Will can help.If your loved one is vulnerable or lacks capacity, a Family Protection Will can also help to protect them from the risk of financial abuse and support them if they need someone to manage their money.
Family Protection Wills can be used when you have a child or another relative with a disability and they need constant support. If this person inherits from a Will directly, this may affect what disability benefits they may receive. Using a Family Protection Will means that they will still be entitled to receive their normal benefits.
Some families leave money to a relative on the understanding that they will look after the disabled person. But if the relative dies, gets divorced or has large debts, they may lose control of the money. Using a Family Protection Will means that any money you leave to your loved one can only be used for their benefit and they can not be taken advantage of
Our existing clients are important to us, our aftercare will includes
We appreciate that a Will is not something you or the family wants to deal with until it is needed. We therefore always advise storing it with us so that it will not be lost or damaged and so that we can be there to talk the family through the next steps.
A phone call away
Any questions after signing your new Wills are dealt with as an important factor for us. You can speak to one of our friendly support staff, or your advisor, who are always more than happy to help.
We all know that life circumstances can change all too quickly, therefore, we offer the ability to change your Will as many times as you wish within the first year (*usual charge of £25 admin fee after the first 12 months).