Wills

YOUR FREE WILL WITH CANCER RESEARCH UK

Amanda Coates Solicitor is celebrated her tenth year as a qualified solicitor on 15th July 2021. More than £28,500.00 has been raised by legacies in the Wills which is an amazing achievement for the charity. Many of my clients are young families and this is possible by offering out of hours/weekend service. Please look at all the great work Cancer Research UK are doing here;

https://www.cancerresearchuk.org/our-research-in-manchester

SPOTLIGHT ON MAKING A WILL

A will is a very important legal document that allows you to direct your assets on death to your chosen beneficiaries.

MAKING A WILL

You should consider who will be appointed as the Executors. Adult children are a popular choice but are they the best choice? Often family dynamics mean that children do not always see eye to eye. If this is the case, then the children should not act as Executors as this will be more costly and time consuming to the estate.

Have you got your Will in place?

TAXING ISSUES

Even a simple Will can ensure no inheritance tax is paid on the death of the first spouse. This is if all of the estate is passed to the surviving spouse. If you do not have a Will in place it may mean inheritance tax is paid at 40% and some assets may even pass to children as early as age 18.

COMMON LAW SPOUSE

There is no such thing! If you do not have a Will then assets will pass to your children (if any) or you parents or brothers and sisters. Your partner will get nothing. A Will shall ensure they are looked after.

GUARDIANS

The choice of who would look after your minor children on your passing is very important. If your wishes are not made clear and the family cannot agree this can be very costly and even more upsetting for the children. Legally appointed guardians in your Will makes your decision clear.

FAMILY HEIRLOOMS AND CHARITABLE GIFTS

Having a Will ensures that your precious things will go to the people you have chosen. Leaving a gift to charity is a very worthwhile exercise. It can also reduce inheritance tax and help with estate planning.

USING A SOLICITOR

A solicitor will ensure you Will is legally binding and they will advise you about your situation. It is important that your solicitor has extensive knowledge of private client law. If they are a member of STEP (society of trust and estate practitioners) you can be sure that they have knowledge and the capability to help.

CONTACT US

07890 519826

ac@amandacoates-solicitor.co.uk

www.amandacoates-solicitor.co.uk

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