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At Wills Plus we offer different wills to suit
the different needs of our clients. The four main types of will are
detailed below, but our consultants will advise you on which will
format is the most suitable for your requirements.
Pre-arranged visits can be made
to your home or office in the Slough, Reading,
Guildford, Oxford and Portsmouth postcode areas of SL, RG, GU,
OX and PO. If your home or office is outside of these
areas we can still help you through our membership of a
nationwide network.
As a provider of
professional Trustees within a Will we must comply with Money
Laundering Regulations. Compliance with the Money Laundering
Regulations prohibits Wills Plus Ltd from taking a new or revised
Will instruction without a personal meeting.
Our consultants must ascertain a client’s identity by sight of
specific original documents, including a Passport or full photo card
driving licence, and check that any requiring a signature are
pre-signed, and that any associated photograph is a good likeness of
the client.
Please feel free to telephone or email us to enquire about our
services but we can only take instructions during personal meetings.
standard Single Will
Suitable for
individuals who wish to appoint executors and guardians of their
choice, choose the beneficiaries of their estate, and possibly
include funeral directions.
standard Mirror Wills
The standard
mirror wills format is generally the same as the standard single
will, but are designed for spouses, civil partners or co-habiting
partners, to ensure both estates are provided for.
Mirror
wills are prepared when a couple want almost identical wills,
usually leaving everything to each other respectively and thereafter
to the children, or where there are no children, to a named
beneficiary.
PROPERTY TRUST
It is a sad fact that we all need to plan more carefully for our
future if we wish our heirs to inherit what we feel is rightfully
theirs. We read all too frequently of local authorities who have
sold the homes of our elderly population to pay for long term care
in old age, which in many cases has taken the most valuable asset
the majority of us will ever have. Families of this vulnerable
sector of the community are also disheartened when everything their
parents have ever worked for during a whole lifetime is wiped out in
just a few years of Long Term Care.
The incentive to buy and own our own homes is therefore under threat
if our efforts to become home owners results in a financial loss
because of the Community Care Act.
The Property Trust is designed to protect the value of the share of
the deceased partner in the property from being used to pay the care
bills of the surviving partner if they require permanent residential
care. The Trust allows the surviving partner all the benefits of
occupation or to move to a different property. The Trust can also
prevent the deceased partner’s share in the property being inherited
by a second husband, wife or partner.
Whilst this is binding on the estate and the Trustees after death,
it can be varied or cancelled at any time if circumstances change
before death.
You could save half of the value of your house for your heirs.
DISCRETIONARY I.O.U. WILL TRUST
With the recent changes
in how personal allowances for married couples are treated this
Trust isn't necessarily needed for Inheritance Tax Planning
purposes, although there can be circumstances where it may be
useful. In simple terms however, the changes mean that a
married couple, or in the case of a Civil Partnership, both nil rate
band allowances may be carried forward to when the second death
occurs.
In the case of un-married couples this type of Trust should still be
considered for tax planning purposes if the estate value is going to
be in excess of the nil rate band allowance of £312,000. We would discuss both
scenarios with you to see what best fits your circumstances.
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