| |
Wills |
| |
WIL015 |
|
|
| |
This will combines several simple features to avoid all liability to IHT.
First, gifts to anyone, as required. But that will use up some of your nil rate band.
Second, you create a discretionary trust of (the balance of) your nil rate band. This gives your trustees great flexibility, to deal for example with a family business.
You instruct your trustees in a side letter exactly how you would like them to exercise their discretion among the beneficiaries you have named in your will. We provide an example letter of instruction. Under the law at August 06, no inheritance tax will be payable on your death. IHT will be payable on the death of your spouse. This is a simple way to minimise IHT.
All the rest of your estate (residue) goes into a second trust to your spouse for life, remainder (after her death) to your children. Inheritance tax on the remainder will of course be payable as part of her estate when she dies.
Children also given by default any business or other non-chargeable assets up to value you specify.
Full trust provisions with wide powers to trustees
Suitable for: anyone
middle aged or older parents
No settlement for IHT purposes, so children can permit widow/er to live in house if that is part of property given, without tax consequences. |
| |
| |
WIL011 |
|
|
| |
Gifts to anyone, as required. All to spouse absolutely. If he / she does not survive then child guardians appointed. Trusts - half of residue for children.
Other half of residue to guardians. They receive income as it arises and may receive capital subject to a good “report” by children when they are of age. Trust provisions allow for minor children
Suitable for: young parents, particularly to cover unexpected accident. |
| |
| |
WIL007 |
|
|
| |
Gifts to anyone, as required. Whole of estate to spouse or partner for life. After death, split between other relatives and charities. Spouse can have capital too, if needed.
Suitable for: person with or without children who may or may not have re-married, but wants spouse to have life interest only. |
| |
| |
WIL002 |
|
|
| |
Simple will - all to one person, probably spouse or life partner. If dies first, then to others.
Suitable for: married or single person, may have relatives. |
| |
| |
WIL51 |
|
| Letter to executor |  | | Price: £5.00 |
 |
|
| |
Letter to proposed executor of your will, asking whether he will accept the office on your death. Provides additional basic information he might require now. |
| |
| |
WIL014 |
|
|
| |
This will provides for a “Nil rate band” gift into discretionary trust for any of your listed potential beneficiaries. Of course you will have left a “side letter” setting out your precise preference as to the distribution of the funds in the trust. Under the law at August 06, no inheritance tax will be payable on your death. IHT will be payable on the death of your spouse. This is a simple way to minimise IHT.
Gifts to anyone, as required. NRB gift into trust, then all residue to spouse (who will receive free of IHT).
Trust also given by default any business or other non-chargeable assets.
Provision for guardianship of children if you both die. Cash could be used in any way - to pay guardians or direct to children. Guardians may use money generally.
Full trust provisions with wide powers to trustees
Suitable for: anyone;
parents of any age, to cover unexpected accident |
| |
| |
WIL010 |
|
|
| |
Gifts to anyone, as required. All to spouse for life, inc power to spend capital. Gift over to children absolutely. Wide trust powers.
Suitable for: person with wealthy children who do not need large amount of cash on your death and for whom the “gift over” on death of tenant for life is not important. |
| |
| |
WIL006 |
|
|
| |
Gifts to anyone, as required. May be used as “mirror” wills. Everything given to the other of them. If the other dies first, or they die together, then estate divided into 2 parts (or any number of parts, or not divided at all) and given to brothers and sisters or others. Trust provisions.
Suitable for:married couple, no children, any circumstances
Suitable for: married couple, no children, any circumstances |
| |
| |
WIL001 |
|
|
| |
One simple will - all to one person. If that gift fails, then to another person or charity.
Suitable for: single person with no relatives. |
| |
| |
WIL017 |
|
|
| |
This will provides for a “Nil rate band” gift into discretionary trust for any of your listed potential beneficiaries. Of course you will have left a “side letter” setting out your precise preference as to the distribution of the funds in the trust. Under the law at August 06, no inheritance tax will be payable on your death if all the balance of your estate is paid to your spouse. IHT will be payable on the death of your spouse.
This will also provides for the creation of a second discretionary trust, into which all your remaining assets are given. This will include assets on which IHT is or may be payable, such as assets subject to exemption or partial exemption which you did not include in the nil rate band trust, as well as assets which may be liable to the full charge. This enables your trustees to re-arrange your estate so as to minimise tax or pay some people and not others. IHT is payable on the “re-arranged” estate. It is essential that your trustees take such steps within two years of your death, or the opportunity is lost. This is a simple way to minimise IHT.
Suitable for: anyone. |
| |
| |
WIL013 |
|
|
| |
This will is a very simple “Nil rate band” will for purposes of IHT. Under the law at August 06, no inheritance tax will be payable on your death. IHT will be payable on the death of your spouse. This is a simple way to minimise IHT.
Gifts to anyone, as required. Gift up to value of nil rate band to children outright, assuming all are aged over 18. All residue to spouse (who will receive free of IHT).
Children also given by default any business or other non-chargeable assets.
Suitable for: anyone;
middle aged or older parents
No settlement for IHT purposes, so children can permit widow/er to live in house if that is part of property given. |
| |
| |
WIL009 |
|
|
| |
Gifts to anyone, as required. Half residue to spouse for life, income only; after his / her death then to children. Specific provision for spouse to occupy house as part of his / her half. Trust provisions to maintain capital value (for benefit of remaindermen). Provision for termination of life interest in house if tenant for life co-habits with someone. (That is: lives together).
Other half of estate to children immediately. Various provisions to make sure the Trustees keep the capital value of the Trust Fund intact for the remaindermen - so less freedom to spend capital money on the tenant for life.
Suitable for: person married to, or living with someone other than parent of his / her children. |
| |
| |
WIL005 |
|
|
| |
Gifts to anyone, as required. House and sum of money to spouse for life; after his or her death, to children and other relatives. Spouse may have capital too, if needed. Rest of estate to children now.
Suitable for:
anyone;
person whose spouse needs house but may have few other assets to maintain himself / herself.
Person with children. |
| |
| |
WIL016 |
|
|
| |
Gifts to anyone, as required. 60% of residue to wife / husband / life partner, for his / her life; 40% to children immediately. After death of wife / husband / partner, all to children.
Specific provision for partner to occupy house;
Wider trust powers, may fail to preserve capital
Suitable for: person living with someone other than parent of his / her children. |
| |
| |
WIL012 |
|
|
| |
This will can be used as a “Two year discretionary trust” will for the purposes of IHT.
Gifts to anyone, as required. All to spouse absolutely provided she survives. Otherwise gift over by creation of discretionary trust for discretionary beneficiaries. Full trust provisions with wide powers to trustees. Cash can be used in any way - for example, to pay guardians or direct to children for education and maintenance.
Guardians may use money generally. No specific obligation to any one beneficiary.
Suitable for: young parents to cover
unexpected accident;
Older parents;
Anyone in a position to use the two year flexibility. |
| |
| |
WIL008 |
|
|
| |
Gifts to anyone, as required. Main estate to nieces, nephews or others. Trust provisions for children.
Suitable for: anyone;
single person, no spouse, no children |
| |
| |
WIL003 |
|
|
| |
Gifts to anyone, as required. Does not set up a formal trust but includes trust provisions suitable for under 18 beneficiaries in any relationship category.
Suitable for: widow, widower or divorced person who has children but no “life partner”. |
| |
| |
Other |
| |
WL52 |
|
| Location of important documents and summary of personal information | | | Price: £5.00 |
|
|
| |
Essential document to fill out and leave with your will. May save £££s in investigation and legal fees if you should die unexpectedly. |
| |
| |
Power of Attorney |
| |
WIL223 |
|
|
| |
Delegate the task of selling real property to your Attorney. |
| |
| |
WIL65 |
|
|
| |
Statement revoking the attorney's powers from a given date. Space to be signed by all partied and witnesses. Space to insert personal appropriate details. A legal document written in an easy to use style. |
| |
| |
WIL225 |
|
|
| |
give the Attorney power to deal with the execution of documents relating to, for example, your will, a charity you donate to, your life insurance, or whatever else you choose. |
| |
| |
WIL67 |
|
|
| |
Create a Lasting Power of Attorney for personal health and welfare to ensure you have your say on the things that matter. Includes the government form and many Net Lawman guidance notes. |
| |
| |
WIL224 |
|
|
| |
Give the power to your Attorney to control your bank account(s). |
| |
| |
WIL66 |
|
|
| |
Create a Lasting Power of Attorney for property and affairs to ensure you have your say on the things that matter. Includes the government form and many Net Lawman guidance notes. |
| |
| |
WIL222 |
|
|
| |
Use to delegate any number of powers to an Attorney while you are away, abroad, too busy or for any other reason. |
| |
