20 Warners Road,
Newton Longville, Buckinghamshire, MK17 0BL
Professional Will & Trust Drafting Services
Although most people consider having a Will, they are unaware of the outcome of dying intestate - i.e. without a Will. If you die without a Will, the Laws of Intestacy will govern how your estate is distributed. This may not reflect how you wish your money and possessions to be allocated.
67% of UK adults do not have a valid Will. Of those who do, many are considered out of date if older than 4 years as they do not take into account changes in personal circumstances, such as children, grandchildren, marriage or divorce.
Using Milsom Consulting Limited, a regulated professional, to either write your Will, review your Will or help with estate planning will provide you and your family peace of mind.
What does a Will do?
Why you need a Will?
Unfortunately, unmarried couples do not have the same legal rights as those that are married. Under the Law of Intestacy, your partner could receive nothing from your estate!
Married Couples/Civil Partners
Don’t assume that your spouse/partner will get everything. Without a valid Will, the Law of Intestacy means this is not necessarily the case!
Children can legally inherit assets at the age of 18, however many people wish for children to inherit when they are more mature, at later ages such as 21 or 25. You can provide for this in your Will. Also, by appointing Guardians you can ensure your children are brought up with the people you wish.
It is common for a person to want to look after their current spouse, but also look after their own children, now or in the future. A Will can include certain trusts which allow for a spouse to live in the property for the rest of their life and then for the property to pass to the children.
Gifts to Charity
Many people wish to leave small gifts to charity. Larger estates can also benefit from a reduced rate of IHT if they give 10% of their net estate to charity!
Assets can be placed into Trust, rather than given directly to a person. This protects those assets for children, disabled beneficiaries or allows the estate to adapt to future circumstances.
Updating an old Will
If you’re retired, you may have made an Will a long time ago. It likely needs updating perhaps to include grandchildren or removal of people you no longer feel you wish to leave anything to.