THINK WILLS AND TRUSTS
Will and Trusts can be seen as a very complicated area. Think Finance will cut through the jargon and complexities and offer professional advice which will add real value to you.
A Will, often known as a Last Will and Testament, is one of the most important documents that you will ever write, or be involved in writing. It is likely to be the piece of paper that has the most influence on the way your affairs are handled after your death.
The basic purpose of a will is to outline the intentions of the writer with regard to their affairs after their death. These affairs are primarily financial, although a will often covers other areas. The document will include several key elements, including the nomination of executors; an outline of the individual’s assets; a list of their dependants; a list of any debts the individual owes; a list of any debts which are owed to them; details of arrangements to be made for any children; and finally, the individual’s intentions with regard to the distribution of their estate.
If you die without making a valid will, you leave what is known as an "intestacy". This means you have not validly disposed of some or all of your assets. If you die without a will, your assets will be distributed according to a legal formula. This might mean that your assets do not end up with the person you would have chosen.
Not many people understand what a Trust is and how it differs from a Will. There are many types of Trusts, but the one main benefit of all Trusts is how they will keep your estate out of probate after your death. When a Trust is done right, it will protect your assets in many ways.
Think Finance offer a complete Wills and Trust service and advise on:
- Making a will
- Trusts and inheritance tax advice
- Long term care advice
- Lasting Powers of Attorney
- Funeral pre-payment plans
- Secure document storage