Will: This is the legal document that sets out what you want to happen to your property after your death. Not nice to think about but a good idea. Samble Burton and Worth can help.
A will is the only document you will ever sign which deals with every penny you have, including your home. It is far too important not to have real experts dealing with it for you. Lionel Conner and Ashley Picken are Solicitors of many years standing and members of the Law Society and Lionel is a member of the Society of Trust and Estate Practitioners, the last being a specialist body relating to wills and trusts which can only be joined by specialists who can prove their expertise in this area. Our firm will still be here when you need us
Even for people without large estates a Will can be invaluable:
- A surviving husband or wife or Civil Partner does not always take the entire estate of their deceased spouse or Civil Partner if there are children of the deceased. Even if the house is jointly owned so that it does pass to the survivor, policies to pay the mortgage off may not be.
- Partners who are not married or in a civil partnership do not have the rights to the estate of the Partner who dies. You have to make a Will to leave your estate to your Partner.
- If you own a business you should have a Will to say who will receive the Business AND to give your executors powers to run the business until it is disposed of or transferred to a beneficiary.
- You can ensure that your will appoints persons to deal with your affairs whom you select, 0ther then someone designated by impersonal default
- If you have children under 18 you can appoint guardians to take on the parental role if you die.
- You can also ensure that your children do not get money when they are too young to handle it by providing they only have it when, say 21 or 25 years old.
- You can provide, if you wish, for organ donation.
- You can give legacies to family, friends and Charities who might not otherwise be remembered.
- You may be able to save substantial amounts of inheritance tax with a properly drawn will, remember your home counts towards the tax limit.
- For older persons it may be possible to have some protection from losing the bulk of an estate in care home fees and we can also deal with trusts and gifts which may also help. In addition, if the survivor re-marries, it can protect that property from going to that new wife or other beneficiaries of any new will of the survivor
- An additional amount of tax free band for Inheritance Tax is available for people who meet the criteria for including having a Property that is their Main Residence and it is left to direct descendants.
- Home visits can be made in the Burton and Derby area by appointment.
- Each Will is tailor made for you.
Don't get caught out
Government regulations saying that voluntarily depriving yourself of property means that many marketed schemes to protect against care home fees don't work!
What we can do is make a will under which the 1st of you to die leaves your share of the house to your children or family but with provision in that your partner can remain in the property as long as they want. If one of you dies the other one goes into care the persons then applying for help with fees is not the person who has given the property away.