Wills Guide

After lifetime estate planning the logical and essential step is to compliment this by making a Will which carries on the process and enables you to fully take advantage of all the possible options. The drafting of a Will can significantly affect the inheritance tax position on death. The making of a Will allows all property owners to control what happens to their assets after death in so far as:- The person entrusted with the work (the Executor) is specifically nominated There is a clear statement of entitlement The beneficiaries are clearly identified It may contain alternative provisions if the first nominated beneficiary is pre-deceased It may contain special wishes and directions It may include tax savings/exemption clauses If there is no Will, there are obviously no such protective measures and the assets will be inherited under what are known as Intestacy Rules. However, following the preparation of the Will, the administration of the Estate of a deceased person may proceed along the definite and planned lines of Probate. A Will is a very specialised document that as well as being extremely personal to you, is also the result of careful drafting and close review, not a pre-printed sheet of paper that can simply be bought and filled in over the counter.

A Will has to be drawn up correctly for it to be legally binding, of course. But perhaps more importantly, so that it can accurately reflect the client’s wishes and instructions. The staff at Powell Davies Solicitors have been providing this specialist service for years, individually tailoring Wills to clients’ exact requirements. Not only that, we’re also able to offer clients the benefit of our extensive tax planning expertise - so that you can plan, protect, and, wherever possible, mitigate against any unnecessary tax liabilities. Our specialised knowledge also makes us a sound choice for post-Probate administration work.

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