Wills & Trusts
What is a Will?
A Will is a legal document that, in the event of death, will inform the executors of the Will, who the beneficiaries are and once any debt has been paid, will distribute the estate as per the wishes of the person who made the Will.
Are there different types of Wills?
Yes, there are GOOD Wills and BAD ones!!!!!!
Example of a bad Will
Your partner dies and leaves everything to you. On the surface, this appears to be good, as you now have all of the combined assets including the house, but when you remarry, your new spouse will be entitled to half of your combined wealth.
Example of a good Will.
When your partner dies, all their assets fall in to Trust, this could be savings, investments and their half of your home.
Now, when you remarry, your new spouse will be entitled to just half of your own wealth.
On an estate with a combined value of £400,000, this could ring-fence £200,000 for you children.
For your free consultation, phone 01535 636474 or email: bob@completeestateplanning.co.uk