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ESTATE PLANNING & WILLS

We understand the importance of planning for the future. Our comprehensive services in Wills, Lasting Power of Attorney (LPA), and Property Trusts are designed to give you peace of mind, ensuring that your wishes are respected and your loved ones are protected.

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Types of Wills

A Will is a vital document that outlines how your assets will be distributed after your passing. Creating a Will ensures that your estate is managed according to your preferences, providing clarity and security for your family and loved ones.

1. Types of Wills

There are several types of wills, each suited to different circumstances and needs. Here’s a rundown of some common types:

  • Single Will: A single will is for one person and details how their assets should be distributed after their death. It appoints an executor to handle the estate and can name guardians for any minor children.
  • Mirror Will: Used by couples (often married or in a civil partnership), mirror wills are essentially identical. Each person leaves their estate to the other, with provisions for what happens if both pass away simultaneously, typically leaving the estate to children or other beneficiaries.
  • Mutual Will: Similar to mirror wills but with a binding agreement between two people, mutual wills are used to ensure that both parties’ wishes are followed. They prevent one party from changing their will without the other’s consent.
  • Joint Will: A joint will is a single will made by two or more people, outlining how their combined assets will be distributed. It’s less flexible, as it generally cannot be altered by the surviving party after one person dies.
  • Testamentary Trust Will: This will sets up a trust that comes into effect upon death. It designates how assets should be managed by a trustee for beneficiaries, which is useful for managing complex estates or providing for minors.
  • Holographic Will: A handwritten will that must be signed by the testator. Its acceptance depends on local laws, and it’s not commonly used in the UK due to strict requirements for validity.

2. Lasting Power of Attorney (LPA)

A Lasting Power of Attorney allows you to appoint someone you trust to make decisions on your behalf if you become unable to do so. This can cover both your financial affairs and health care decisions.

  • Types of LPA:
  • Property and Financial Affairs LPA: Manages your finances, property, and assets.
  • Health and Welfare LPA: Makes decisions about your healthcare and personal welfare.
  • Benefits of an LPA:
  • Protection: Ensure your interests are safeguarded if you lose capacity.
  • Choice: Select trusted individuals to make important decisions.
  • Clarity: Provide clear instructions to your attorneys on your preferences.
  • Our LPA Services Include:
  • Detailed guidance on choosing the right type of LPA.
  • Assistance with completing and registering LPA forms.
  • Reviewing and advising on existing LPAs.
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3. Property Trusts

Property Trusts are a strategic way to manage and protect your property assets. They can help in safeguarding your property from being sold to pay for care fees, preserving wealth for future generations, and managing how your property is distributed after your death.

  • Protection: Shield your property from being used to cover long-term care costs.
  • Inheritance Planning: Ensure your property passes to your chosen beneficiaries.
  • Control: Retain control over how and when your property is distributed.
  • Our Property Trust Services Include:
  • Ongoing support and management of your Trust.If you need more information or personalised advice on investments, our experts are here to help. Contact us today to start building your investment portfolio and secure your financial future.
  • Expert advice on the best type of Property Trust for your situation.
  • Drafting and setting up Property Trusts.
  • Our LPA Services Include:
  • Detailed guidance on choosing the right type of LPA.
  • Assistance with completing and registering LPA forms.
  • Reviewing and advising on existing LPAs.
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4. Inheritance Tax

Inheritance Tax (IHT) is a tax on the estate of someone who has passed away, including their property, money, and possessions. Here’s a concise guide to understanding how it works and what you need to know:

  • What is Inheritance Tax? A tax on estates exceeding £325,000, covering property, money, and possessions.
  • Allowances and Reliefs:
  • Nil Rate Band: £325,000 is tax-free.
  • Residence Nil Rate Band: An extra £175,000 if leaving your home to direct descendants.
  • Spousal Exemption: Transfers between spouses are tax-free.
  • Charitable Donations: Gifts to charity are exempt, and donating 10%+ can reduce the tax rate to 36%.
  • Tax Rate:
  • Standard rate is 40% on amounts over the threshold.
  • Gifts and Exemptions:
  • Annual Gift Allowance: £3,000 per year tax-free.
  • Small Gifts: Up to £250 per person per year.
  • Wedding Gifts: Exempt up to £5,000 from parents, £2,500 from grandparents, £1,000 from friends.
  • Planning Ahead:
  • Gifts and Trusts: Regular gifts and trusts can reduce your estate’s value.
  • Utilise Allowances: Maximise available allowances and reliefs.
  • Filing and Payment: Pay within six months of death. Consult a financial advisor for tailored advice.


Will Writing is not regulated by the Financial Conduct Authority.

Estate and inheritance planning is not regulated by the Financial Conduct Authority.

Have Questions?

If you need more information Wills, Lasting Power of Attorney (LPA), and Property Trusts, we are here to help. Contact us today.