If you want to avoid dissension amongst relatives and wish to have your final wishes honoured, it is important to write a will. However, you may wonder what goes into this type of estate planning. You will experience added convenience by choosing to employ a will writing service for the work. Select a service that offers an expedient and efficient turnaround time whilst providing expert will writing services. In-home visits also make planning and writing a will an easier task to undertake.
Legally Compliant and Clear
When you are talking to a consultant from a will writing company, make sure that he or she explains everything that you need to know in clear and concise terms. You also want your last will and testament to display this type of unambiguity. All your wishes should be expressed in terms that are legally compliant and clear.
Establishing a Family Protection Trust
You may also want to consider setting up a family protection trust. By establishing a trust, you can further ensure that your wishes are followed and that your assets are managed properly after your death.
This type of plan allows you to transfer your house and assets into a trust, thereby giving you full control over the management of your estate. By placing your assets into this type of legal vehicle, you will ensure that they will be passed on to the right people, either according to the terms set forth in your will or the terms of the trust itself.
How You Can Use a Trust
When speaking to will writers in Nottingham, you will want to discuss both will writing and trust services. That will give you more latitude in making a decision for planning your estate. For example, you might want to consider a trust if you had once planned to leave everything to your surviving spouse but also have children from a previous marriage. If you would like to leave them part of your assets, a trust can be used for this benefit.
An Easy-to-Follow Process
The value of a family protection trust is not impacted by the expense in administering an estate or by the cost associated with residential care when you are a senior. When the trust ends, the trustees can pass on the assets to the intended beneficiaries without have to following a strict format or without having to obtain a Grant of Probate.
Indeed, a family protection trust can protect you later in life, especially if your assets exceed a certain amount. If your assets are placed into a family protection trust, it is unlikely that they will be used for any residential care that you may need as a senior.
Placing your assets into this kind of trust can therefore save you much in the way of expense or even further asset loss. Not only does it lower the costs of estate administration but it saves your estate from being eroded by as much as £55,000 annually. By not taking any initiative along these lines, you will burden your family with added work and costs in the administration of your estate.