Personal Legal Advice

Whilst none of us want to deal with the reality of our death, it really is the only true guarantee in life. Unfortunately we don't know when it will happen. If we did we would all be better prepared.

We all know we should make a Will, however most of us leave it till much later in life… In reality death can strike at anytime…In 2004 there were 3,221 accidental deaths on Britain’s roads (National statistics 2005) and yet in a report by Age Concern they stated that 20million Britain’s have yet to make a Will.

Setting up & running any business is tiring and time consuming; most of us might not have time to consider questions such as:
1. Now I have a business, what will happen to it when I die? What if I want it to continue after my death?
2. I have just got married again. Does my previous Will still stand?
3. Will my common law husband/wife inherit my assets when I die?
4. I have children who will take care of them if I die before they reach 18?
5. I own assets outside of the UK. Does a UK Will cover this?
6. Inheritance tax laws state that all assets over the Nil Rate Band will be taxed at 40%, that’s nearly half, can this be avoided?

Taking time out of your busy schedule of designing, making & selling, to visit a solicitor to discuss Estate Planning is often quite daunting….

Making a Will is the only way to make sure that you’re hard earned for assets go to the people you love, or causes you are passionate about.
As a mother of 5 sons ages 12, 16, 19, 21 and 23, (Prior to training as a legal consultant) I naturally thought if both of us as parents were to die early, the younger boys would continue to live in their family home with their adult brothers…… I was horrified to learn that actually the 2 younger boys would be made wards of court & taken into foster care whilst the state decided their future care. The older siblings would then have to go to court and make a case for guardianship!! All of which could have been avoided if as parents we had stated to whom guardianships should be given, appointed trustees, set up trust funds for all the children’s day to day living & education, generally making our wishes known in a legal document called a WILL.

Setting your affairs in order brings peace of mind to you, but is also a lasting gift to your loved ones. We all need to make a WILL based on our individual circumstances here are some examples:
Married Couples
Without a Will, it is not certain that your spouse will directly inherit your assets, unless they are jointly owned. Do not assume that all your assets are jointly owned, this is not always the case
Unmarried Couples
Without a Will your partner may not receive anything! Your entire estate will probably be divided between your children; if you don't have any children then your assets will be shared between your relatives.
Divorced or Separated
Without a Will your 'ex-spouse' could still be entitled to claim a part of your assets!
Parents of Young Children
By making a Will you can ensure that the courts are aware of who you wish to care for your children in the event of your death.
New Children
Your Will needs updating if you have new members of your family to include in your wishes
Change Of Address
The value of your new home may affect your inheritance tax status
Civil Partnerships
From a financial point of view it is essential that you make a Will in order to safeguard your wishes for your partner. Gay couples often have several issues that need to be taken into account.
For example: Previous marriages and children
Dying Intestate (without a Will) can cause great upset & squabbling amongst people who are already grief stricken, to discuss any of the issues in this article or any other concerns related to Estate planning, inheritance tax & its implications please contact:

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