Wills and will reviews

Making a will and reviewing it regularly is essential in order to provide protection for the individual and their loved ones’ interests.

A will could help cut the Inheritance Tax burden and, as a legal document, ensures a person’s wealth is used to achieve the future they planned.

It is particularly important to make or review a will when considering major personal and financial decisions, such as buying a house and setting up a business, or a change in personal circumstances through marriage, having children or divorce.

A will should seek to give family and loved ones clarity and direction as to wishes regarding money, possessions, and property.

How Napthens can help

The team at Napthens are experienced in drafting and reviewing wills, according to individual circumstances and desires.

Among the information we’ll review is the value of an estate, as if this is worth more than the current Inheritance Tax threshold, then it becomes more complex.

We will help prepare properly structured wills for married couples, that can also help shelter assets if the survivor of them ever comes to require long-term care for which they are self-funding.

This is where our team will provide additional value, to ensure an individual’s wishes are carried out and their estate is distributed accordingly.

Among the information we’ll ensure is in a will are:

• An individual’s funeral wishes
• Whether any charities should benefit
• Who is responsible for distributing an estate (the executors)
• Who receives an estate and when should they inherit
• Who receives sentimental items

While it is not a legally binding document, a letter of wishes can provide clear guidance to the executors and trustees as they distribute property, money and possessions.

A letter of wishes can also be used alongside a lasting power of attorney (LPA) to provide guidance in health and welfare matters.

As specialists in complex personal and financial situations, the team at Napthens are experienced in writing the letter of wishes in a manner that will safeguard against any challenges from others in the future.