Wills
What is a Will?
A will, formally known as a Last Will and Testament, is a legal document that outlines a person’s wishes and instructions regarding the distribution of their assets, the care of their dependents (such as minor children or pets), and the appointment of an executor to carry out these directives after their death. In essence, a will serves as a crucial component of an individual’s estate planning, providing a legal framework to ensure that their possessions are distributed according to their desires and that their loved ones are cared for in the manner they deem fit. Creating a will allows individuals to have control over the disposition of their assets and provides clarity and legal validity to their intentions.
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Why do I need a Will?
Preparing a Will prevents your estate from falling under the laws of intestacy. While it may align with your desires in some instances, it often fails to do so, leading to significant challenges for your loved ones. For instance, if you are married or in a civil partnership with children, only £250,000 may be allocated to your spouse. Conversely, if you cohabit with a partner without marriage, they will receive nothing according to intestacy laws.
Drafting a Will provides assurance and ensures that your wishes are honoured. This helps alleviate confusion among family members following your passing. Our specialized team can offer guidance on the most effective means of implementing your preferences. Once your Will is crafted, the original copy will be securely stored in our office at no cost. You’ll always be aware of its location should you wish to make any amendments.
Mirror Wills
Mirror Wills are often prepared when a couple want to make similar Wills. Each may leave his or her estate to the other, so that the survivor becomes the beneficiary of the other’s estate. Both can then work together to ensure that their children are the beneficiaries on the death of the second of them.
Tax Planning
Inheritance tax can have a large impact even on a fairly modest estate. Arlingsworth’s team can advise on the implications and on ways to mitigate this tax by using a Will.
What provisions can be put into a Will?
- Choose exactly how your property and possessions will be shared between your loved ones
- Ensure that your partner or spouse is provided for
- Choose who should act as guardians for any children
- Provide for dependants
- Take sensible steps to reduce tax
- Set in place trusts for minor or disabled beneficiaries
- Prevent additional upset and confusion for your loved ones on your death and decide who you would like to wind up your affairs
Get the legal assistance you need today
If you need help drawing up a will, you can call our legal expert solicitors 7 days a week. With offices in Brighton and London, we cover the whole of the South East. If you would like to speak to a member of our experienced Wills team today please call us on 01273 696962 or click the button below to request a callback.