Tel: 0800 014 80 31
email: legalservices@rls-uk.com 

Wills

Why Make a Will & what is Included

Without a Will

The Government decides who inherits your estate. Your spouse does not necessarily inherit everything. Other family members might have entitlement under the strict rules of intestacy.
The government decides who looks after your children if there are no parents alive or willing to take on this duty.
An unmarried partner gets nothing.
Your remaining relatives could face more stress than they need to.
Obtaining probate could be more expensive and take longer.

With a Will

  • You decide who gets what.
  • You decide who are to be the guardians of your children.
  • You can take care of an unmarried partner.
  • With a protective trust in your will you protect your share of the family home for the eventual beneficiaries after the death of your partner.
  • You reduce the stress for the family and minimize the cost and time taken to obtain probate.
  • With a Trust of Residue in your will you can give even more security to your family and give your trustees powers to make decisions regarding inheritance tax and capital gains tax.
  • You can make your funeral wishes known.
  • You can provide for your pets and state your wishes for their continued wellbeing.
  • You can provide for a disabled relative or friend by means of a trust.
  • You can ensure that money left to charities is spent the way you want it spent by putting a Charitable Trust in your will.

Simple Wills

Our standard will is quite comprehensive and includes:

  • Naming your executors (We can put a professional trust company in as executor if you wish)
  • Naming Guardians for children & stating at what age they can inherit
  • Bequeath family heirlooms and items of sentimental importance
  • Give legacies of money & insurance policies
  • State your funeral wishes
  • Provide for your pets
  • State how you wish your residual estate to be divided up and who is to inherit.

Wills with Trusts

Protective Property Trusts

If you are a couple and your home is your most important asset, a Protective Property Trust means that on first death that persons portion of the equity in the property is put into trust for the eventual beneficiaries, protecting it for a number of reasons, including the possibility that the remaining partner may one day change their own will leaving out someone you wanted to inherit.

Trusts of Residue

Trusts of Residue can be more appropriate in certain circumstances to give protection for the whole of your residual estate to go into trust for your eventual beneficiaries after second death, and there are various options to give your executors flexibility in how they handle your estate to mitigate the effects of Inheritance tax.

Disabled and Charitable Trusts

You may wish to protect someone who is disabled or put money into a Charitable Trust so that your trustees can have a say about how that money is spent, and avoid it being wasted.

Nil Rate Band Trusts

These are particularly useful for unmarried couples who are leaving everything to each other on first death if their joint estate is valued at above £650,000. This type of Trust can save inheritance tax

Tenancy Severance to create Tenants in Common.

Most jointly owned properties are owned as Joint Tenants and need to be owned as Tenants in Common to be effective in trusts. This is done by means of a Severance of Tenancy which we register at the Land Registry,

What is a mirror will?

A mirror will is available for married couples, unmarried partners, and civil partners, who live together and saves you money.
A mirror will has the main instructions the same as the partners will. To be a mirror will, you must have the same address, same executors, and the same instruction for your residual estate (this is the remainder of your estate after individual legacies of money or personal items are given)
Very often a couple will leave all their residual estate to each other on first death, and then on to their children, or chosen charities, or others on second death.

WILL STORAGE - REGISTRATION AND ATTESTATION SERVICE
WE ESTIMATE OVER 50% OF WILLS ARE WASTED FOR THE FOLLOWING REASONS

1. Many wills are either never signed or they are not signed and witnessed correctly, what we call attested, and therefore never become legal documents, even though they have been paid for.
Our document Attestation service goes hand in hand with our will storage. We oversee the attestation, and in most cases act as one of your witnesses, thereby completely overcoming this problem.

2. A huge number of wills are never found when needed.
When a will cannot be found the executors cannot be appointed and cannot carry out their duties and the wishes of the person making the will cannot be carried out.
Once you have made your will and signed it, the most important thing to do is to have it registered and stored in safe document storage, with Executor retrieval system.
With time people do forget where they have put their own will – and people who have been told where the will is going to be kept also forget. It may even have been moved. Time passes, memory fades, and this happens all too often.
Typically you hear people say they know that the person made a will but they cannot now remember when it was, or who did it, or what happened to it.

What happens when a Will cannot be found?

In these circumstances there are rules to be followed. A spouse is limited to how much he or she can receive, and unmarried partners get nothing. Guardians of children cannot take up their duties, and the government decides who are to be the guardians. Probate is likely to be lengthy and costly creating more stress for those left behind.

The Solution

Our secure will storage service is in Plymouth, where your will is registered and the executors details are recorded
The will is safely stored in its own sealed envelope in fireproof and waterproof conditions. It is also insured,
Your Executors always know where the Will is kept
Your executors are notified where your will is being kept, and also receive retrieval cards which can only be used to retrieve the will on production of a death certificate, this also means that your will contents are kept private as well as secure.

ATTESTATION SERVICE + SECURE DOCUMENT STORAGE + EXECUTOR RETRIEVAL GIVES COMPLETE PEACE OF MIND

Business Hours

Our office is open for calls and visitors at the following times.

Monday-Friday: 9am to 5pm
Weekend: Closed

CONTACT US

Visit Our Office

office

Falcon House, Eagle Road
Langage, Plymouth, PL7 5JY

Interested or Questions?

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