A protective property will is ideal if your children are under 18. It comes into effect when you pass away or if you are the sole owner of a property and want your surviving spouse or partner to continue living in the property while ensuring your children are the ultimate beneficiaries.
The trustees, beneficiaries and terms are all set out in your will.
A lifetime trust or flexible life interest trust comes into effect straight away. It is beneficial to protect against sideways disinheritance, where children from other relationships could inherit, remarry and change the terms of their will to potentially disinherit your true bloodline.
If a property is jointly owned, the Will can be written to cater for ‘Tenants in Common’. This gives each person a share in the property, which can be disposed of according to their wishes rather than passing automatically to either spouse.
Probate is the method of dealing with the properties of someone who has died, i.e. paying off their creditors and dividing their assets according to their own will.
Probate is the process of managing the estate of a deceased person, including wealth, asset and property distribution.
Intestacy is when an estate of a person that dies without a will owns property with a cumulative value greater than that of their unpaid debts
An Inheritor is a person who inherits something, i.e. an heir. The terms “heir” and “beneficiary” interchangeably, but there are important differences.
Inheritance refers to anything a person bequeaths to his or her loved ones after passing away - including cash, investments, stocks, jewellery, automobiles etc.
A succession executor is an adult appointed to manage a deceased person’s assets. Their responsibility is to carry out the orders for handling the affairs and wishes of the estate
A trust is an arrangement in which someone - knows as a trustee, is granted the right to possess property or properties on behalf of the beneficiary.
A testator is a person of sound mind who creates a will. If a person dies before they have the chance to create a will, then they are said to have died “intestate.”
This is the most significant element of every plan for an estate - namely, the specifics of what will happen to property and assets after death
A bequest is a gift left to a family, friend or organisation in a will. There are many different forms of legacies to take into account when writing a will.
A beneficiary is a person who, is expected to inherit something from an estate - including income, belongings, properties or stocks and shares
If a person dies without leaving a valid will, according to UK law, their estate must be shared out amongst married or civil partners.
We can help you with the important life decisions of how to assign your property to your loved ones and take care of yourself in any eventuality, without unwanted and time consuming intervention from the courts.
Click here to send mail
Phone : 01273385833
