Many of us give more thought and time to planning our annual holiday than to how we’d like to arrange our financial affairs in the event of our passing.
We understand that writing a will is a daunting task, but it’s an important one. Our team of financial estate planners are here to make the will writing process easy.
Equipped with years of experience, Wills, Tax & Trusts Group is here to provide unbiased advice, and assistance with the drafting of secure legal documentation, to ensure that your assets are protected in your lifetime and for generations to come.
Choosing the will that’s right for you
When it comes to deciding the future of your financial assets, you’re in the driver’s seat – exactly where you should be.
There are seven types of wills you can choose from, to best accommodate your lifestyle. If you need a second opinion on which will is right for you, we’re always on-hand with will planning advice.
Our will writing service
Whether you’re based in Reading, Wokingham or anywhere else in Berkshire, we can help you provide your legacy, your way.
We know that a person-centred approach is absolutely essential to your satisfaction, which is why we offer both in-person and online consultations to suit your schedule. We’ll talk to you about your assets, your relationship with your family and friends, and who you would like your executors to be. You’ll also be able to talk to us about whom you would like to benefit from your estate, and we’ll give you practical advice on the best way to organise it.
From there, we’ll assist you in writing your draft will, with a keen eye for comprehensive and indisputable language, protection against Inheritance Tax, and the necessary legalities.
For a free, no-obligation initial discussion, and free quote, talk to one of our experts today on 0118 934 7920.
Wills: frequently asked questions
How much does a will cost in the UK?
To complete a legally valid will, you can either create one independently, or you will need the service of a professional solicitor. On average, you can expect to pay between £150-£250. However, if you choose to have a solicitor create your will for you, the price can exceed £500.
For information about the cost of our will writing service, here at Wills, Tax & Trusts Group, get in touch on 0118 934 7920.
What happens if I die without making a will?
In England and Wales, if an individual dies without writing a legal will, the government will decide what happens to your assets, including who will benefit from them. If the individual has no living family members, all their property and possessions will automatically go to the Crown.
If the individual is married, then their surviving spouse can inherit up to £270,000 worth of assets, all the deceased spouse’s possessions, and half of the remainder of the state. However, if there are children, the other half of the estate will be divided equally between them. And, If any child is under the age of 18, their share will be held in a statutory trust.
There are certain rules that must be followed in the event of a death without a will, which you can find out more about here on our website.
What gifts can I include in a will?
There are various types of gifts can be included in a will, as a way to divide your estate. Some common types of gifts that can be included in a will include:
Specific bequests are gifts that involve the specific transfer of a particular item, such as a piece of jewellery or a family heirloom.
Pecuniary bequests are gifts that involve a specific sum of money, such as a fixed amount or a percentage of the estate. For example, a gift of £10,000 or 10% of the estate would be considered a pecuniary gift.
Residuary bequests gifts that involve the remaining assets of the estate after all debts, taxes, and other gifts have been satisfied. The residue of the estate is distributed among the beneficiaries according to the proportions specified in the will.
Charitable bequests are gifts that are left to charitable organisations, such as registered charities or other qualifying bodies, for charitable purposes. Charitable gifts may include money, property, or other assets.
Revisionary bequests are gifts that you would like to leave someone on the condition that they survive you, but that you would like passed onto someone else if the original beneficiary doesn’t survive you.
At Wills, Tax & Trusts Group, we cover gifts as part of our in-person and online will writing service, get in touch to find out more.
I’m not married to my partner, will they inherit if I die without leaving a will?
According to inheritance laws currently in place in England and Wales, unmarried couples, or those who are not in a registered civil partnership, are not entitled to inherit anything in the event of a partner passing away.
To ensure your partner’s future financial stability benefits from your assets, you must leave a will stating your wishes.
Can an executor of a will also be a beneficiary of the same will?
An executor of a will can also be a beneficiary of the same will, as long as they’re over the age of 18. Although, it is important to consider whether they’re willing and/or able to be an executor in the first place. This is a topic that can be discussed with your financial estate planner during the will drafting consultation.
Contact our Trust and Estate Planning Experts
Our many clients throughout Berkshire live confidently in the knowledge that their assets, and the future generations of their families, are protected. Start your journey towards a legacy you can control, today, by contacting a member of our financial planning team on 0118 934 7920.
Or, fill out the form below, and we’ll give you a call at the earliest opportunity.