I have been preparing Wills for clients on a professional basis for over 20 years, ranging from very simple Wills to much more complex ones, involving various types of trusts. There are many situations when a person might require a more complex Will or additional advice and assistance, for example:
- Minimizing Inheritance Tax
- Reducing potential liability for care home fees
- Balancing the needs of a spouse and also children from a previous relationship
- Providing for a disabled relative or minor children
- Dealing with foreign assets
- Considering potential challenges to the Will
- Protecting assets from being mismanaged by a beneficiary
- Preserving a beneficiary’s entitlement to means tested benefits
These are just a few of the issues that can arise during a consultation and I am able offer advice and suggest potential solutions when required.
More complex Wills often include various types of trust, including the following:
Life Interest Will Trust – this is where assets are given to someone only during that person’s lifetime and thereafter the assets go to other beneficiaries.
Discretionary Will Trust – this is where the trustees of the Will are given powers to decide when and how assets are to be distributed between beneficiaries.
