Writing a Will and
testament
in the UK
CAN REDUCE INHERITANCE TAX AND
HELP PROTECT YOUR ASSETS FROM THE RAVAGES OF CARE COSTS. wE DRAFT
trust wills,
care cost planning wills
and
inheritance tax wills.
To
die Without a Will in the UK
can cause heartache, distress and misery your family. They will be
subject to the rules of intestacy. Your
UK will could
be used to help protect your family, reduce your inheritance liability
and protect a significant portion of your home and other assets from
Long Term
Care Cost Assessment!
Writing a Will should form a key part of your overall financial
and estate planning activity. Your Will, or Mirror Wills, should ensure your
assets legally go where you want them to go on your death .They can help to
protect your estate from the effects of long-term care costs, and
even reduce your family's inheritance tax liability.
In the
UK your Will is likely to be the most important document you
are
ever likely to write.
Your Will or Mirror Wills could make use of
Will Trusts
to help protect your assets.
Having a professional Will writer write your Will or a
Last Will and Testament,
can be an easy and painless process.
People feel they need to commission a solicitor to write
their Will. You might worry about the uncertainty of the end
costs.
Using
Collective Legal Solutions makes the whole process easy and the
costs are fixed
We offer
fixed price will writing services, delivered in the comfort of your own home.
It
is a certainty that none of us knows what the future will hold.
However, we all have a duty to our family and loved ones to minimise
uncertainty when they least need it, by ensuring our affairs are in
order.
Reassure yourself by knowing that your last wishes have been
documented, guardians appointed for your children, and your prize
possessions bequeathed to your loved ones. You may have even made
provision for your pets. The Will-making process even helps you to
make provision to protect your assets from the ravages of the taxman
and inheritance tax, or from the costs of long-term care.
Many of our customers tell us that they had been putting off writing
their Wills for a long time. It was not until they invited
Collective Legal Solutions to make a free home visit that they
realised how easy and painless it is to have their Will written.
Nearly all our customers wonder why they put it off so long!
See for yourself, take a look at some recent letters from our
customers.
The Chancellor's October 2007 Pre-Budget announcement made some
improvement to the inheritance tax situation for married couples and
civil partners.
These couples can now automatically
carry forward any unused percentage of their partner's nil-rate band
inheritance tax allowance. This means these couples can pass on up
to £650,000 of assets without incurring inheritance tax. Amounts
over £650,000 for couples, and over £325,000 for single people or
cohabiters, will still incur an inheritance tax liability of 40%.
The value of your estate includes all
of the assets and cash that you own. People often think that the
family home, properties abroad, cars, works of art or shares might
be exempt. This is not the case. If you are a single person or a
cohabiter, and want to work out your inheritance tax liability
click here.
The changes made to the inheritance tax rules in the October 2007
Pre-Budget announcement mean that the families of many married
couples and civil partners will now fall out of the inheritance tax
trap, or will have vastly-reduced liabilities.
However,
inheritance
tax is only
one of the threats to a family's wealth. Probably a bigger threat is
that of having to fund long-term care costs.
One-in-four
of us will require long-term care at some point in our life, and a
Will can be used to protect significant portions of your estate from
the ravages of longer-term care costs.
Whereas inheritance tax threatens only 40% of the value of your
estate over the nil rate band (currently £325,000), care costs can
reduce the total estate value down to £14,250, leaving very little
for loved ones to inherit. For more details on the threat of
long-term care cost, and how to protect your loved ones, follow our
link to
Long-Term Care Protection.
Writing A Will could help to:
-
ensure your money, property and
other assets go only to the people you wish to receive them
-
ensure you have nominated
guardians for your children
-
ensure your money is secured for
the benefit of your children by establishing trust funds for
your children.
-
define when to use Discretionary
Trust Funds, or Disabled Discretionary Trust Funds, to look
after all of your family; maybe even a trust fund for your pet
-
reduce or eliminate your estates
inheritance tax liability
-
reduce the impact of costs
associated with long-term or formal care provision
-
ensure funeral wishes are
documented
-
exclude previous partners from
benefiting from your estate
-
exclude named individuals from
benefiting from your estate
-
minimise death duties.
The process of having your Will
written is simple. One call to us right now is all it needs to start
your estate planning. Book an appointment, and we will come and chat
with you in the comfort of your own home, at a time that suits you.
We can talk you through all the things you need to consider when
contemplating writing your Will. You need to think about such things
as:
-
what assets you have, and where
they are
-
who you want to sort out your
affairs (your Executor) after your demise
-
who you want to appoint as
guardians for children under 18
-
if you want to make special
provisions for pets
-
how you want to divide up your
assets
-
any exclusions you might want to
make, for example, excluding a divorced partner who may be able
to lodge a claim on your estate.
Making Your Will
is a particularly personal task, that is why
we offer a truly personal and friendly service, yet highly
professional, delivered in the comfort of your own home at a time to
suit you.
We make Writing a Will an easy process, so call us
right now, without obligation. You will be glad you did,
and so will your family.
