Will writing services

Templar Estate Planning is proud to be able to offer you a comprehensive Will writing service, completed at your convenience, at your pace and in a language that you will understand.

Wills are the starting point of our services, without one or with one that no longer meets your needs, you could be placing the most important people to you in great difficulty after you are gone and cause them avoidable problems at an already distressing time.

If you do not have a Will or are worried that your current Will does not cover your needs and wishes, have a look at this short video:

What is a Will?

A valid Will is a legally binding document that records your wishes to be followed after your death.  Your executors (the people you choose to manage your estate distribution) will manage your estate in accordance with the wishes in your Will.

What are the benefits in having a Will?

As with all the services we provide, there are many benefits to having a valid Will, not least of which are:

Avoiding the consequences of Intestacy

Very high up on the list of reasons to have a Will is to avoid being “Intestate”.  Intestate is the term used to describe someone who has died without a Will.  In this scenario, and depending on where you live in the UK, your estate will be distributed following set rules as defined in the law of intestacy – in other words – your estate will be distributed by how someone else has decided and not necessarily as you would want.  The process can take a great deal of time, and ultimately your loved ones may struggle during this time and then not receive what you would like them to.

The GOV.UK site can give you an idea of how your estate may be distributed.

The law of intestacy is also very “traditional family” orientated, so if you are not married or in formal civil partnership, it is unlikely that your partner will receive any benefits from your estate if you do not have a Will.

Providing for your loved ones

Having a Will allows you to provide for your loved ones in the manner that you want. With a Will you can specify who gets what. Without a Will, people you do not want to receive a benefit from your estate may. A Will also allows you to specifically exclude someone from benefiting from your estate, which is strengthened by our Will Clarity Statements.

Ensuring your children are looked after

With a Will, you can appoint guardians for your children ensuring that they are looked after and loved by people you trust. Otherwise, there is a risk they may go to someone you would not want to look after them or even into the care system.

Mitigate against Inheritance Tax

Let’s face it, very few of us wants to pay more tax than we need – why allow that to happen your estate after you die? With a Will and associated services, the tax burden could legally be reduced leaving your loved ones in a more secure state.

Specifying particular gifts of possessions and money

With a Will you can instruct items to be left to particular people; want to make sure your son has your record collection? That your daughter gets your jewellery? You can with a Will.

And many more..

Process to write a Will

Our Will writer will work directly with you to catalogue your wishes and requirements for your Will which will take place in a free consultation. This consultation can take place via a telephone call, email or video call at a time and place convenient to you. In person meetings can also take place following COVID-19 protocols in our office or at a location of your choice, such as your home or workplace.

A starting point is for you to think about the following:

Your Estate Assets

Start thinking about what you own that should be included in Will. These include: property owned by you both in the UK and abroad; savings; investments; pension funds; life insurance policies; death in service benefits through your employer. The value of each of these items is important – as part of the Will making process we need to assess how your assets sit within the prevailing inheritance thresholds and available financial and tax planning options to help you mitigate unnecessary taxes and costs in the long term.

Who will benefit from your Will (the Beneficiaries)

For most people this is pretty straight forward; your spouse or partner alongside your children and any grandchildren will be the main beneficiaries. But this is the time to start thinking about the not so nice scenarios that could happen:

  • Who might need help with their inheritance particularly if it is a child or someone with a disability, or someone that has a bad track record with finances or an addiction.
  • Possibility that your spouse may disinherit your children in the future, particularly if he or she is not the parent of children, and if you want to specifically protect them.
  • If you want to exclude anyone from your Will, perhaps an estranged child or to protect your child from their spouse who you dislike or may have reason to not trust.

Whatever the scenario, we can advise you on the best way to tackle this within your Will.

How you will want your Estate divided

Gone are the times when the eldest son inherits the whole estate! The majority of the time people want their Estates divided equally; but there are scenarios where you may want to adjust the levels, for example:

  • You might have a relative or a child with special needs and therefore higher costs in life.
  • You may have already helped one child to a greater benefit than your others such as with a house deposit.
  • You may have one child who has sacrificed greatly to help you or equally have a child that has broken off contact with you.
  • You may even want to friends, organisations or charities to benefit.

Guardians for your children

If you have young children, who you will appoint as guardians for them? It is important that you discuss this with those you wish to act as guardians; to ensure that they are willing and it does not come as a surprise should the need arise.

People who will carry out (execute) the wishes of your Will

Part of the Will process is to appoint Executors and Trustees (if you set up a Trust) who will ensure that the wishes of your Will are carried out. It is natural that you may want your spouse to undertake this role, but it is worth thinking about also appointing professionals to help manage this process – which can be complicated for someone who has never done before. Also, your spouse may find it difficult to perform the role whilst grieving. As with all steps in the process we can advise you in this area and we can professionally perform both executor and trustee roles for you.

Possible threats to your estate

There are a number of potential threats to your estate; that could result in the value of your estate being either reduce or completely eradicated.

This short video details the 5 main threats to your estate.

These threats are protected against by writing a basic Will but we can protect your assets by writing more sophisticated Wills using Trusts.

Your business

If you run your own business and want it to continue, who will run and or inherit it and importantly who will not. We can establish cross option agreements for businesses to ensure that your loved ones receive a fair amount for your share of the business and that the remaining shareholders can continue to run the business after your death. This can be done in association with Business Powers of Attorney documents.

Contact us today, we are happy to discuss your needs for writing your first Will or reviewing your current Will to ensure it is valid in a no obligation call.

Really happy to have chosen Templar for our long over due Will planning. David right from the start helped guide my wife and I through the various options clearly and concisely (and translating a lot of jargon that we had no clue about!) super happy with the service provided would highly recommend.”

Mr R – Reading

Our other services:

Trust establishment. – Setting up a trust can further help protect your assets from threats. Have a look at our Trust service here.

Lasting Power of Attorney – A Lasting Power of Attorney can protect you and your loved ones should you become incapacitated. Find our more here.

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not married
Will evaluation service

ESTABLISH TRUSTS

Utilise Trusts to preserve your wealth and assets for future generations and to minimise inheritance tax bills.

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