Areas of Practice
Wills and Probate » Will writing and estate planning
WILL WRITING SOLICITORS SERVING CARDIFF,NEWPORT,BRISTOL & LONDON
We provide a competitive priced Will drafting service and have been so for 25 years, all Wills are drafted by qualified Solicitors at our practice and we are regulated by the Solicitors Regulatory Authority. We are able to travel to you should you be unable to visit us.
Everyone should have a Will that reflects their current wishes, without a Will the rules of Intestacy govern how your estate is distributed. The rules of intestacy prevent a surviving unmarried partner or those not in a Civil Partnership taking a share of the estate. In some circumstances a partner may have a valid claim against an estate although whether they could fund an action or are aware they may have a claim is another matter.
The intestacy rules changed as of the 1st October 2014
Married person with no children
From 1st October if a person who has a spouse or civil partner but no children dies without a Will, their surviving spouse/civil partner will inherit everything. Prior to the Intestacy rule changes on 1st October 2014 where a person who had no children died intestate the surviving spouse/civil partner would share their spouse/civil partner’s estate with the deceased's surviving parents and siblings.
Married person with children
From the 1st October 2014 the surviving married partner will take all of the first £250,000 this sum is known as the Statutory Legacy and will be subject to review. The surviving spouse will also be fully entitled to half of the remainder of the estate along with the deceased’s personal possessions. The life interest concept is abolished.
The children will inherit half of anything above £250,000 of which is held on trust until the children obtain 18 years of age.
Do Married Persons Need a Will?
If you do not have a Will you may not have provided for your loved ones, you do not have the opportunity to name who you would like to manage and distribute the estate or appoint guardians for your children.
A common issue for couples is ensuring they have provided for children from previous relationships, we can discuss all the options available to you.
Another commonly encountered problem is how to provide for a disabled person who receives benefits. The testator often dislikes the idea of their Will gift not providing the opportunity to improve the disabled persons standard of living and merely replacing state-funded benefits and services until the monies fall below the excluded capital level.
A Vulnerable Beneficiary Trust or Disabled Person’s Trust can be a useful way of providing real benefit to the beneficiary without affecting means tested benefits. These Trusts can be a far better way forward than merely not making any provision for the vulnerable or disabled person. Where a Disabled Person is not provided for on the basis that they will derive no real benefit from the testator's estate a Family Dependence Act claim for a Will Variation may ultimately be brought against the estate on the testator's death.
Tax planning should not be overlooked and we will ensure you understand how Inheritance Tax impacts on your estate. We are also able to provide tax planning advice.
We like to support Charity where we can and throughout November 2014 we will be offering free Wills through Will Aid. Instead of paying us a fee, you will be invited to make a donation to the UK's leading charities. "Since being founded in 1988, Will Aid has enabled legal firms to raise over £15 million for nine of the UK’s favourite charities".
For more information please click this link http://www.willaid.org.uk/will-makers.