Wills and Probate

Wills and Probate

Without a Will in place, intestacy rules will apply and the Courts will decide how your assets are distributed on death according to statutory rules. The requirements for the validity of Wills is complex, and a failed will can result in additional fees and delays.

A basic Will may avoid the process of intestacy, but with clients having larger and more complex estates and with an increase in blended families, clients need to consider a more detailed and professionally drafted Will to achieve their wishes.

A well drafted Will can:

• Protect against Sideways disinheritance
• Mitigate future care home fees
• Control how assets are passed down through generations
• Determine how your children will be looked after
• Allow for specific gifts
• Specify your burial wishes
• Ensure your children are protected from the risks of early Inheritance Tax
• Establish structures protecting against creditors, divorce and excessive spending
• Protect against claims from those who may feel ‘entitled’
• Maximise inheritance for your beneficiaries

The use of trusts in Will drafting can protect assets for generations to come. It can also ensure that those you wish to benefit can, but subject to appropriate conditions. It is also helpful at the time you consider your Will that protection via Lasting Powers of Attorney is in place. This will protect you and your family in the event of an unexpected loss of capacity which could result in the Courts appointing individuals to manage your affairs at a significant cost and delay.

Consilio Consulting work with a partner firm who can assist with the task of managing the estate, assessing Inheritance Tax, obtaining probate and distribution of assets. This process is considered to be challenging at the most difficult times. They are governed by STEP and hold professional indemnity insurance up to £2 million.

The Financial Conduct Authority does not regulate will writing and legal services.