WILL WRITING SERVICE
Making a will can prove invaluable in the event of your death. With the right planning, you can ensure that your wealth and the gifts you wish to pass on reach the right people at the right time. In addition, a well-drafted will can help minimise the amount of Inheritance Tax (IHT) payable.
The preparation of a will provides you with an opportunity to review your finances. Our fully-qualified will writing solicitors will help you to write a will that is legally valid and clearly addresses how your wealth should be handled, leaving no room for misinterpretation.
Our team is recognised in Chambers & Partners and the Legal 500. We have won industry awards, including Team of the Year at the Manchester Legal Awards.
We help a variety of high-net-worth clients - including business owners, entrepreneurs, sports professionals, entertainers and medical professionals - to draft strong, fair and legal wills.
Our team is made up of young, dynamic solicitors who understand the environments you operate in and the need for bespoke will writing services.
Specialist Wills for High-Net-Worth Individuals
Our team will conduct a review of your worldwide assets and liabilities, advise on the steps you should consider to ensure your affairs are in order, and ensure your will achieves everything you want it to and complies with all legal requirements.
We take a professional yet personal approach to will writing to help you protect your wealth and ensure no challenges can be made against your legacy.
In addition to drafting new wills, we can review any current documents to provide advice on how they can be improved, help to mitigate taxes and ensure your wealth is protected. In circumstances where a will needs to be rectified, we will help you to amend any issues.
During emergency situations, JMW’s will writing solicitors are well-positioned to assist you in putting your affairs in order quickly and efficiently. To find out more, visit our Emergency Wills page.
The Purpose of Will Making
Making a will can help to ensure your wealth is handled properly and protected. Writing a will allows you to do the following:
- Ensure your family is provided for financially
- Make sure specific gifts or legacies are given to your chosen beneficiaries, including relations, friends and charities
- Set up life interest trusts to ensure that your spouse/partner has the right to remain living in the family home
- Appoint guardians for any children under the age of 18
- Provide sufficient financial provision for children under the age of 18 to take care of their health, welfare and educational needs
- Allocate funds for use by guardians to assist with the raising of your children
- Set up flexible provisions for young beneficiaries, if you do not consider it appropriate for a child to inherit at the age of 18
- Set up a protective trust to ensure that beneficiaries do not lose their right to receive means-tested state benefits
- Ring-fence assets for the benefit of your surviving spouse/partner against the liability of care fees
- Include tax planning tools to reduce your Inheritance Tax (IHT) liability
- Appoint executors and trustees whom you wish to administer your estate
- Provide for the succession of your business
A well-drafted will can ensure that costly court proceedings and potential family disputes are avoided.
Types of Wills
There are a number of different wills available, each one with their own characteristics:
- Single wills - suitable for those not in a relationship to denote their personal wishes
- Mirror wills - suitable for couples who share similar wishes
- Trust wills - suitable for those who are either single, or with a partner or spouse, and whose affairs are complex or whose assets or family circumstances require that a degree of protection is desirable
For examples of how every will is personal to each individual, take a look at our case studies.
FAQs About Making a Will
How much does it cost to make a will?
The cost of making a will depends on your requirements and the complexity of your estate. We are able to provide guidance and - in most cases - an initial consultation without charge. That enables us to analyse your circumstances and give you an indication of what type of wills structure would be appropriate, together with an indicative cost.
More complicated estates will need a more dedicated approach to ensure that wealth is structured in the most tax-efficient way. For this, we recommend arranging an appointment to speak with one of our will writing solicitors in person. To set up an appointment, call us on 0345 872 6666, or use our online enquiry form.
What happens if I don’t make a will?
If you do not make a will, your assets will be distributed in accordance with intestacy rules. This means that the law will dictate who can administer and benefit from your estate. This does not necessarily mean that your assets will pass to those of your choosing. If no blood relations can be located, your estate could pass to the Crown.
Failure to make a will can also mean that you are unable to pass assets to people who are not directly related to you, including stepchildren, unmarried partners (commonly referred to as “common-law spouses”) and favoured charities.
Additionally, a lack of a will may mean that an estranged spouse (separated but not divorced) will inherit and be responsible for administering your estate. Also, if your children are under the age of 18, you will have no say in who will look after them, nor will you have any control over the age at which your beneficiaries shall inherit.
Should young people make a will?
Although making a will is usually seen as something that is done in later life, there are various reasons why younger people should start thinking about making a will. These include:
- Making clear and certain provisions for a partner, your children and your parents, if you currently care for or assist them
- Preventing a substantial amount of your assets from going to your estranged spouse, should you divorce or separate and die without a will
- Ensuring a marriage or civil partnership is considered in a will, as any will you have in place previously will be revoked unless this has been completed
- Making sure your wealth goes to the right people at the right time, should you cohabit or remarry after a previous relationship
- Tax mitigation (including for assets such as death in service benefit and life assurance)
By writing a will, you ensure that your affairs are in order, and that everything is accounted for at the time of your passing.