What is a Will?
It is your wishes for the disposal of your body and assets at your death.

Why Should I Make a Will?
It is the only way to be 100% sure that your assets go to the people you love.

If I die without a Will does everything go to my spouse?
Not necessarily.   It depends on the size and make-up of your Estate.

Will my common law husband/wife inherit my assets when I die?
No. If you have not made a Will then your assets will pass directly to your next of kin. If you do not have any next of kin then the money goes to the state.

Who will look after our children if we both die?
The only way you can ensure the care of your children is entrusted to those whom you would wish to look after them is to make a will.

I have just got married again. Does my previous Will still stand?
No. Your marriage certificate makes sure that any previous will is made null and void, unless it was made with marriage in mind.

If I leave everything to my spouse will I pay Inheritance Tax?
No.  However, your spouse will receive only 1 Nil Band Rate allowance.  You should consider Inheritance Tax saving Wills incorporating a Discretionary Trust.  This can mitigate up to £120K of Inheritance Tax in FY 07/08.

Is an Inheritance Tax Saving Will appropriate for unmarried couples?
Although Inheritance Tax will always be paid on first death, where appropriate, for unmarried couples, an Inheritance Tax saving Will may reduce the overall tax burden on second death in some cases.

If I leave everything to my spouse/partner, how do I know it will eventually reach my children?
You don’t.  If your spouse embarks on a new relationship after your death, and changes their will, there is no guarantee that your children will receive the legacy you expected.  You may wish to consider use of a Trust to ensure some or all of your estate reaches your children.

How is a person assessed for long-term care?
When a person needs to go into care they are assessed by their Local Authority to decide what kind of care they need and whether they can pay for it. There is a means test of your income and capital - currently individuals with over £21,500 are expected to meet the full cost of their care. If you have capital between £12,750 and £21,500 you will be expected to make some contribution and if you have capital below £12,750 then you will not be expected to make a contribution from this capital but may contribute from your income. The individual will be left with a personal expenses allowance of £17.50 (naturally, this amount is subject to change) per week - this should not be used towards the basic cost of your care. If you choose a more expensive home than the Local Authority would normally provide for someone with your assessed needs a third party may pay the difference - these are called third party contributions and they are ignored for income support purposes but will be included as part of your income by the Local Authority. Third Party contributions would need to show that they can reasonably expect to be able to contribute for as long as the arrangement lasts - the third party will need to consider things like the cost rising and what would happen in this case.

I own property or/and other assets outside of the UK.
Does a UK Will cover this?
No. British law only has jurisdiction within Britain. If you own fixed assets abroad you must also have a Will drawn up in that country.

Can I state what kind of funeral I want in my Will?
Absolutely. If you have a specific wish then it can be included - provided that you have the assets to pay for it.  Although this is only a wish, and not binding on yoyur executors.

What happens if one or more of my beneficiaries dies before I do?
This happens quite often. Your Will should be constructed in such a way that make allowances for such an occurrence.

I have a business. What if I want it to continue after my death?
This is not a problem. There are many businesses which are run by trusts, for example: The Guardian