WILLS.

Wills are a specialist area. Let us help you arrange your affairs.

Please get in contact with us if you need help or assistance with any of the following:


 

  • Wills

  • Trusts

  • Lasting Powers of Attorney

  • Inheritance tax advice

  • Asset protection

  • Letter of Wishes

  • Life interests

  • Severance of Joint Tenancies

  • Appointment of special executors for businesses

  • Statutory Declarations of solvency

What is a Will?

 

In its simplest form, a Will is a legal document that sets out your wishes regarding distribution of your property and affairs and appointment of Executors and Trustees.

 

Thinking about dying and planning what will happen on your death is not, surprisingly, at the top of most peoples' list. Indeed, it is thought a staggering 56% of people in England & Wales don't have a Will.

 

Yet, a properly executed and valid Will goes a long way to putting your mind at peace, putting financial arrangements in place for family and friends and will help ease the hassle and difficulties in administering your estate on your death. They are considered vital for the proper management of your affairs and should be reviewed often.

 

Wills, why use a solicitor and what our fees will be?

So, you've decided to get a Will prepared. What are your options and why use us? 

(1) You could buy a pack and prepare your Will yourself;

(2) You could use a cheap Will writing company that fill your TV schedule with adverts or cold call you; or

(3) You could use a qualified, regulated and expert Solicitor.

Why use a Solicitor over the other cheaper options?

Where do we start?

Get it right.

Using the wrong language and terms can be fatal to the Will or cause bitter, expensive and very lengthy litigation after your death for your close family and friends. A Will is supposed to make things easier after your death, not harder. All so often, Wills prepared by unqualified Will writers or at home end up with court proceedings. A solicitor has to have had years of training before being able to prepare a Will. Meinir, with us, has 10 years’ experience and can ensure your Will really does what you want it to do.

Things you may not know.

Solicitors also look behind the wishes placed in the Will to ensure that you don't pay any more inheritance tax than you should or to ensure that vulnerable friends or family’s are cared for after your death. A Will can also help protect other family members against nursing or care home fees. Meinir has this in-depth knowledge and experience and will ensure your Will is prepared according to your personal needs and circumstances.

 

Clarity.

An executor, the person who is entrusted to administer your estate in accordance with your Will, needs clear instructions to understand exactly what it is they are to do. Very often it is important to use certain words or phrases that have been tested in Court and to avoid any ambiguity. Wills that are drawn by a professional solicitor understand the terms and use them carefully. 

Formalities.

There are strict rules on how Wills are to be signed and who the witnesses are and how they sign. It is very easy, too easy, to make mistakes at this point making the whole Will invalid. Our team ensure that this important part is completed appropriately and validly.

Independence.

Solicitors are entirely independent. We do not have connections with banks, building societies, charities, supermarkets or pension companies. We must operate independently and ensure that you get the correct advice and appoint the correct people or organisations as executors and beneficiaries. 

Insurance.

If, in the rare event we make a mistake, we have insurance to compensate you and a regulatory body (the Solicitors Regulation Authority) to complain to. This is important. Will writers are not always regulated and don't have to have insurance in place. 

Safe storage.

We are obliged by the Solicitors Regulation Authority to ensure we have safe storage for the Wills we keep. Will writers do not. Again, this is important because it is the original Will that is required to get Probate, not a copy. Keeping the original Will safe is vital to your family and friends after your death.

How much will it cost?

 

We operate a fixed fee Will drafting service.  Your Will is drafted by a qualified solicitor according to your needs. Broadly speaking, we charge one of three fixed fees depending on what type of Will you require:

A simple Will

Single:                         £189 plus VAT

Couple or mirror Will:  £259 plus VAT

A complex Will

Single:                         £259 plus VAT

Couple or mirror Will:  £359 plus VAT

A complex trust Will

Single:                         £359 plus VAT

Couple or mirror Will:  £459 plus VAT

What is a simple Will?

It covers the basic drafting of your:

  • Basic funeral wishes

  • Who will be your executor?

  • Who will be Guardians to your minor children?

  • Who do you want to leave everything to 

  • (without conditions or restrictions)?

  • For example, the bulk of your Estate to your children/spouse/niece/nephew/charity 

  • Do you have a lump sum or asset you want to give to people or charity (without condition or restriction) 

  • We will provide you with a basic calculation of Inheritance Tax liability 

  • We will offer free storage of your Will 

  • We will act as your independent witnesses

What is a complex Will?

A complex Will can contain all the basic provisions covered in a simple Will plus:

 

  • Having complex bequests, or bequests which depend on certain things happening

  • Couple Wills that do not mirror each other because of disparity in asset value which has an impact on Inheritance Tax Planning

  • Gift of a business

  • Complex funeral wishes

  • Several gifts of lump sums or specific assets (5 or more)

  • Option to purchase property

What is a complex trust Will?

A complex Trusts Will can contain all the provisions covered in a complex Will plus having a Trust, for example:

 

  • Disabled beneficiary’s Trust

  • Trusts to protect vulnerable or irresponsible beneficiaries

  • Trusts linked to tax planning

  • A Trust that allows a surviving partner or spouse to reside in the family home until they die, with provision for the family home to return to children for example

 

 

 

 

Tel: 01558 678 009   |   Fax: 01558 678 298   |   hello@carreglaw.co.uk   |   2 King Street Llandeilo SA19 6AA

 

- Solicitors & Notary Public Llandeilo -

 

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