Protect Your Family by Making a WillYour Assets by Making a TrustYour Future by Making an LPA

If you own a business, you will need to make use of the flexibility of a bespoke will in order to communicate your wishes and distribution of your business assets.

Based on this answer, if you do not own a business, a simple will could work for you. Continue through the questionnaire and see what other areas could easily be covered by a simple will!

In order to ensure you don’t pay undue amounts of inheritance tax, a bespoke will can help you distribute your assets smartly.

A simple will could be the answer for you if your estate is worth less than the inheritance tax threshold.

A bespoke will can help you gain control over your assets and who can access them in the future, by allowing you to creatre a trust within your will. Speak to one of our wills specialists to discuss how this would work for you.

If you’re happy to pass your assets to your loved ones and hand over full control to them, a simple will could be the answer. Continue through the questionnaire to see what other factors may come into play.

A bespoke will can assist in getting the best for your child or dependent by putting your assets into a trust. This allows them to access the funds within the trust in a manner which benefits them most, as outlined by your wishes.

If you don’t have any special requirements based on a child or dependent with a disability, a simple will could work for you. That could change if you have other deciding factors outlined by previous/subsequent questions in this questionnaire.

If you feel your wishes outlined in your will may cause arguments and disagreements with your family, a bespoke will can allow you to state your wishes with more accuracy. This strengthens your will against being contested, ensuring your wishes are honoured.

If you have a small family and are happy that no one will take issue with how you’ve decided to distribute your estate, you could make a simple will. There are other factors which could change this, of course, so make sure you answer each question accurately!

If you have children, have an individual estate which is above the threshold of £325,000 (or £650,000 as a couple), have previously been divorced or have a business or property overseas, you’ll need a bespoke will. Only a bespoke will can deal with the all of the nuances of business dealings and allows you to leave assets to your beneficiaries as you wish, however complex the arrangement.

If your personal situation is child-free, you’ve never been divorced and don’t own any businesses or property overseas, you could be an ideal candidate for a simple will. However, if you want your assets to be distributed in a more complex way, a simple will is unlikely to meet your needs.

If you have a range of assets and are attempting to communicate more complex wishes in a will, wording is extremely important. If part of a will is vague and is impossible to execute, this can cause legal battles and ultimately mean that your will is ignored and the legal system will decide who receives the assets. For this reason, a bespoke will may be better for your circumstances.

If you have simple wishes and an estate which falls under the tax threshold, there should be no issue with the wording required for a simple will. If you do have more complex wishes for your estate, make sure this is communicated clearly and so nothing can be called into question due to ambiguous wording.