Back to Creating a Will

Wills with life interest trust provisions for couples

This type of Will allows you to :

  • Name the people or charities that you want to inherit your assets when you die
  • Make gifts of money or specific items on your death
  • Choose your executors
  • Name a legal guardian for your children under the age of 18
  • Benefit from the flexibility if your circumstances or asset base is complex or likely to change

 

 

This type of Will is particularly suitable for individuals who would like to make secure provision for beneficiaries who are vulnerable, facing bankruptcy or divorce, or suffer with issues of addiction.

 

The Will creates a discretionary trust on your death. Your estate becomes trust property. Your executors, as trustees of the trust, are empowered to distribute the trust property at their discretion. To guide them in this task, you write them a Letter of Wishes, describing in detail what you have in mind. The Will gives your executors the flexibility to assess the situation at the time of your death, so that they can do what they believe you would have done under the circumstances and considering your guidance to them.

 

What is included ?

Our fixed fee includes the following work:

 

  • A meeting to discuss your wishes and circumstances

 

We will meet face-to-face in one of our boutique offices, or over a secure Microsoft Teams videoconference, and ask about your family circumstances, your asset base, and what you would like to achieve with your Will.

We offer home visits for a fee of £150 + VAT to any destination within ten miles of one of our offices.

 

  • Advice on what kind of Will best suits you

 

We will advise on how to ensure that your Will is safe from possible claims on your estate after you die. We will explain what property you can leave by your Will, and what you can’t. We can advise you on how to choose your executors and help you to find solutions if there doesn’t seem to be an obvious choice.

 

  • Drafting your Will

 

We will write your Will using modern legal Will writing conventions, dispensing with unnecessary legal jargon while also ensuring that the Will can be accurately interpreted after your death. This will eliminate any confusion in the administration of your estate and ensures that your wishes are carried out, irrespective of who ultimately interprets and executes your Will.

 

  • Providing you with a written explanation, in plain English, of the terms of your Will

 

We ensure that you are comfortable with what your Will does, and confident that it achieves what you want it to. In addition to providing you with a copy of your Will itself, we will also produce a document that explains each of the legal provisions and their intended effect for your peace of mind.

 

 

  • Helping you to create a Letter of Wishes

 

We will help you each to write a Letter of Wishes to your executors, letting them know how you would like your estate to be distributed. Once we have helped you create a document that you are happy with, you have the freedom to amend it whenever and as often as you like – right up until you die or lose capacity. You may wish to make updates to reflect changes in your circumstances, asset base, family situation or feelings. You won’t need to engage the help of a lawyer to make these amendments, so there is no additional cost.

 

 

  • An additional meeting to witness and supervise the execution of your Will

 

As your Will is a legal document, there are certain formalities which must be respected to make sure that the Will is valid. One of these involves the way the Will is signed, in the presence of appropriate, independent witnesses.

 

If you would prefer to arrange for the signing and witnessing yourself, then we will advise on the necessary steps. Alternatively, you are welcome to visit any of our offices, where members of our team will act as witnesses to the signing of the Will, at no additional cost.

 

  • Providing secure storage for your Will and Letter of Wishes

 

You can be confident that the original documents are safe and available for your executors, even if your own copies have been lost or accidentally destroyed. We will store both a hard copy of the original documents and keep a scanned copy on our secure cloud-based computer system. If you choose to update your Letter of Wishes, we are happy to store the updated version at no additional cost.

 

  • Providing you with copies of your signed Will for your records