Expert Financial Advice in Berkshire

Planning for Tomorrow, Today:

In the realm of estate planning, the creation of a will stands as a critical step in ensuring the orderly distribution of one’s assets after death. However, a surprisingly high percentage of these wills are poorly drafted, leading to outcomes that are often at odds with the decedent’s intentions. This phenomenon raises a crucial question: why do so many people end up with suboptimal wills?

Let us delve into the psychological and practical factors contributing to this issue, exploring the impact of confronting mortality, the complexity of legal jargon, and the misplaced focus on cost over legacy.

At Wills Tax & Trusts Ltd., we go beyond the standard approach to estate planning. We understand that discussing the drafting of wills can be an emotionally charged experience, akin to a psychological roller coaster. Our philosophy is rooted in empathy and foresight. We are not just thinking about legal formalities; we’re focusing on your family’s future, weaving a safety net that spans generations.

Wills - never too early to start

Our service is about transforming what is, for many, a daunting process into a reassuring journey towards securing your loved ones’ future. We blend our precision in preparing your wills with a visionary glance into the financial horizon, ensuring a comprehensive approach to estate planning.

So, when we talk about wills and trusts, we are not just thinking about the present; we’re casting an eye to the future, especially for your children. We blend our advice on succession planning and include strategies that will be of benefit to your family for many years ahead.

It is not just about creating secure documentation—it’s about peace of mind.

Demystifying Legal Jargon:

Legal documents are notorious for their complex language and intricate structures. For the layperson, the plethora of legal terms and clauses in a will can be overwhelming.

This complexity often leads to a disconnection between the individual and the document they are creating. The focus shifts from the essence of their legacy to a struggle to understand legal terminologies. In such scenarios, the true purpose of the will—to serve as a secure document for one’s final wishes and to secure a legacy of financial stability and gratitude—is often lost amidst the legal verbiage.

We understand that legal documents can often feel like they are written in an alien language. This is where our expertise shines. Our commitment is to ensure absolute clarity and comprehension, so you are fully in the loop with no surprises. So much so that we can accommodate additional meetings to ensure that you are focused on the planning strategies we provide and not on the meanings of legal terms.

It may seem as though legal documents are from another world, if so, you are not alone in those thoughts. That is why we take the time to break down all that intricate jargon. It is vital for us that you know exactly what’s on that paper, so you not only achieve a better understanding but also ensure there are no hidden surprises.

After all, it is a lot more reassuring when things make sense.

Bespoke Estate Plans Unique to Each Family:

The process of drafting a will inherently involves facing one’s mortality. For many, this is an uncomfortable reminder of their finite existence. Simon Sinek’s concept of understanding “why” is often overshadowed by the more immediate, albeit disconcerting, realisation of life’s impermanence.

This confrontation with death can lead to a form of cognitive dissonance where individuals, instead of focusing on the profound implications of their will, may rush through the process or remain disengaged, resulting in a document that inadequately reflects their true intentions.

We recognise the diversity in family structures and dynamics. Our approach is deeply personal, considering the unique aspects of your family. From safeguarding the interests of a surviving spouse to future-proofing provisions for children and grandchildren, our plans are as unique as the families we serve.

Trusts: to secure assets.

Our “Wills for Life” service epitomises our dedication to evolving with you. As life changes, so should your estate plan. We are not just drafting a document; we’re crafting a living plan that grows and adjusts with you.

Wills for Life

Misplaced Priorities: Price Over Legacy

In today’s cost-conscious society, the expense associated with drafting a will can lead one astray, leading many to seek the most affordable option rather than the most effective one.

This cost-centric approach often results in generic, template-based wills that fail to address the unique nuances of an individual’s estate and personal wishes.

The emphasis on price over quality and personalisation leads to a legacy that is not a reflection of one’s life and values but a by-product of frugality.

Instead of leaving behind a legacy of financial security and thankfulness, these poorly crafted wills can become sources of strife, bitterness, and despair among the surviving family members.

Is that what you want for your family?

A Detailed and Comprehensive View of Your Assets and Trusts:

Our commitment to detail means that when you confirm all your assets to us, we carry out a check on their ownership and validity. What does that mean? Take a large life insurance policy which you believe is written in trust, only after checking we find that it is not, on a policy with a face value of £500,000, that could mean the difference between no inheritance tax on an estate or a bill for £200,000!

Clients often inform us that the ownership of their prime residence is jointly held, we check with the land registry, as this makes a big difference to planning your estate. Our extensive checks on each asset culminate in a comprehensive net worth statement, giving you a crystal-clear view of your financial standing.

We recount stories of how our meticulous approach has been a financial boon for our clients, like the family that informed us that under the even year rule they had already gifted £650,000 out of their estate. 

Lasting Powers of Attorney discussion

Do not bother looking into that they informed us, but we did investigate it, and our checks revealed faults with the trust documentation. We suggested a remedy to the company concerned and they applied it successfully saving £280,000 in inheritance tax.

We have saved substantial amounts of inheritance tax for clients; the planning is often carried out over a number of years and the savings can be and have been substantial.

We have saved substantial amounts of inheritance tax for clients; the planning is often carried out over a number of years and the savings can be and have been substantial.

Wills for Life: safeguarding future generations wealth

More Than Just a One-Time Deal:

Every family is unique, with its own set of dynamics and relationships. Recognising this, we delve deep into understanding the intricacies of your family structure, considering not just your present circumstances but also anticipating future changes.

This foresight ensures that provisions are made to safeguard the well-being of the surviving spouse, children, and even grandchildren, ensuring that they are well taken care of in any eventuality.

This isn’t just about drafting a will and moving on. We are on this journey together. It’s about revisiting, refining, and ensuring everything remains aligned. As life’s scenery changes, we’re right beside you, making sure your wishes and legacy stay on course.

Our “Wills for Life” service epitomises our dedication to evolving with you. As life changes, so should your estate plan.

We’re not just drafting a document; we’re crafting a living plan that grows and adjusts with you. It means that you only pay once for the drafting of your will, and for the payment of a small annual maintenance fee, you can re-draft your will up to three times a year without paying again. Plus, your original will and any other important documents are securely stored in a fireproof location.

Focus on the Joy, Security, and Peace of Mind Achieved by Secure Wills and Other Legal Documentation:

The drafting of a will should not be a mere administrative task overshadowed by the fear of mortality or the complexities of legal language. It is a profound opportunity to reflect on one’s life, values, and the legacy one wishes to leave behind.

By shifting the focus from the superficial aspects of cost and legal jargon to the deeper, more meaningful aspects of legacy and personal values, individuals can create wills that truly represent their wishes and provide peace and security to their loved ones.

It is essential for individuals to engage deeply with the process, perhaps with the guidance of empathetic legal professionals, to ensure that their final testament is a true reflection of their life and a foundation for a legacy of gratitude and harmony.

At Wills Tax & Trusts Ltd., we achieve that for all clients.

Legal Documentation: safeguarding your wealth

Ray L Best: Our Managing Director

 

You may have heard of our M.D. Ray Best, as he is the lead speaker for our seminars, held regularly around the Thames Valley.

Part of his talk is devoted to explaining how trusts can be a valuable tool in estate planning, offering both protection and flexibility.

In his book, ‘Inheritance Tax Simplified,’ a whole chapter is devoted to trusts, their benefits, and potential applications.

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