The main benefits of a valid Will

• it guarantees that your estate is distributed according to your wishes.
• it prevents family quarrels, avoidable expenses and protracted legal disputes.
• in certain cases it may reduce the amount of Inheritance Tax to be paid.
• by making a Will you and not the State can choose who are your children’s legal guardians.
• failure to choose your Executors for your estate will result in your Executors being appointed by the courts.
• You may be able to protect assets from being used to pay for care costs.

Type of Will

As the personal circumstances of individuals and families are numerous and diverse it is important to discuss your needs so a Will that meets your requirements is professionally drafted. From the comfort of your own home, Caledonia Will Services can provide information and up to date relevant advice on the type of Will that is most helpful to your situation.

A Standard Will

A standard Will allows you to choose the Executors for your estate, Guardians to care for orphaned children and Trustees to manage a childs inheritanace until they reach a mature age. You choose how your estate is distributed including specific legacies to family, friends or perhaps a charity by legally expressing your exact wishes. Many people believe they have nothing worth leaving for inheritance but overlook life insurance policies, cars, company pensions and company benefits. The estate of anyone who dies without a valid Will becomes subject to the relevant Intestacy Laws. Simply meaning the State will effectively make your Will for you. Not having a valid Will may not only impose emotional suffering but also financial hardship to your intended beneficiaries.

Discretionary Trust Will

If there are beneficiaries of your estate who are considered to be vulnerable then a Discretionary Trust Will can help protect them. A vulnerable beneficiary could be someone who is considered to be disabled, a minor, someone in financial difficulty or someone experiencing a breakdown of marriage.

Property Trust Will

Under the Community Care Act 1990 the council can force the sale of your home to recover Long Term Care Costs. A Property Trust Will may have prevented this action. It can also be used to protect your children’s inheritance in the event of a surviving spouse or partners remarrying.

Inheritance Tax Planning Will

A tax efficient Will is vital when mitigating Inheritance tax. Our consultants will be able to advise on where measures can be taking in the drafting of the Wil to help reduce the tax burden on the estate.