There are certain circumstances whereby the location and security of a valid Will document is crucial. When your spouse is NOT the biological parent of your children is a very important example of this. Second Marriages & Cohabitation It is increasingly common that people who remarry or cohabit after their previous spouse has died, wish …
A Will is NOT Simply a List
A Will is NOT simply a list of who does what, and who receives what, after we die. If that were the case, then there would be little need for solicitors and professional Will Writers because people would merely prepare such a list at their own convenience. Here are a few examples of potential issues …
Jointly Owned Property and Wills – The Connection
Jointly Owned Property and Wills: If you own your property as Joint Tenants with another person or people, you may decide that you want to change the ownership, so it is then held as Tenants in Common instead. This will enable you to gift your share of the property to someone other than your co-owner(s) …
Free & Cheap Wills – A Myth
Do-it-Yourself Wills A person is at liberty to draft their own Will if they so wish, and therefore pay only for the ink and the paper required to create it, or the cost of a DIY kit from a High Street stationery shop. Any such “DIY Will” should be perfectly valid provided it meets all the …
Guardians
Who can be a Guardian? Anyone can be appointed as a Guardian in your locally produced Will if they are over the age of 18 years. Anyone who is appointed as a Guardian will have Parental Responsibility (PR) for your children and therefore can make decisions about matters including: Appointing a Guardian in your Will …
The Relationship Between Wills and Probate
Wills and Probate: Wills are a legally binding confirmation of who does what (e.g., Executors, Guardians, Trustees, etc.) and who receives what (e.g., Beneficiaries of the assets within your estate). When created locally by a suitably qualified and insured professional Will Writer, and in accordance with your specific circumstances and requirements, Wills are also powerful …
Have you Unknowingly Invalidated your Will?
Are you aware of some of the different ways in which your Will could be affected by a change in your circumstances, or vice versa? Have you Unknowingly Invalidated your Will? A New Property Purchase If you purchase a new property with another person, this may have implications if your locally arranged Will (see previous …
Inheritance Tax Allowances
Inheritance Tax (IHT) is payable on death or at certain stages during lifetime. For the purposes of this post, we will only look at the Inheritance Tax Allowances charge payable upon a death. Upon death, our Representatives will calculate the value of our estate, including the value of our assets i.e., property, money in bank …
Beware So-Called “DIY” and “Free” Wills
How do I Create a DIY Will? A person is at liberty to draft their own Will if they so wish, and therefore pay only for the ink and the paper required to create it, or the cost of a “DIY” Will kit from a High Street stationery shop. Any such “DIY Will” should be perfectly …
Local Devon Probate Guidance Equals a Larger Inheritance as a Result
What is Probate? Most people have heard the term “Probate”, however far fewer are aware of what it means. The following is some Probate Guidance from TRF Wills. Just because we have a Will, that does not automatically mean that after our death the people dealing with our affairs can immediately begin sharing out our …
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Local Will Writing in Devon and Wolverhampton
A Will is a legal document which confirms your requirements for how your assets should be distributed after your lifetime. It is a crucial element of your overall estate plan. Having an accurate and all-encompassing valid Will can help ensure that your assets are distributed correctly according to your wishes, avoid probate disputes, and minimise …
Wills and Vulnerable Beneficiaries
Will beneficiaries can be vulnerable for many reasons, including but not limited to learning difficulties, illness, and addiction. How do we provide for a vulnerable, possibly dependent adult Beneficiary in our Will? The beneficiary’s vulnerability is not as important as their care needs, and the solution is known as a Vulnerable Person Trust. Vulnerable Person …
TRF Wills (TRF) was created by Michael Cotterill in 2005. He is a member of the Society of Will Writers and registered with the Information Commissioner’s Office.