Wills and Estate Planning

Our friendly and straightforward service includes:

• A Will questionnaire to be completed and returned to us;
• An initial meeting to discuss your family circumstances and requirements, and to take instructions for the preparation of your Wills;
• A review of your existing Will(s)
• Advice on the available options and providing advice on asset preservation structures and trust structures for children/vulnerable beneficiaries;
• General inheritance tax advice;
• Advice on Lasting Powers of Attorney;
• Providing you with drafts of your Wills and explanation to accompany the drafts;
• Sending the final version of your Wills to you with instructions on the process to follow with regards to signature and witnessing;
• A meeting in person or via video call, to supervise signing formalities;
• Providing copies of your Wills;
• Free storage of the original Wills securely; and
• Free registration of your Wills with Certainty, a Will registration service.

You must keep your Will in a safe place, however that place must be easily accessible when the document is needed. There are various ways to store your Will.

At TWM, we are able to offer you free registration of your Will with The National Will Register, if this would be of interest to you.

The National Will Register and Certainty Will search service are endorsed by The Law Society. The Register simply records the law firm that is holding the Will and no other details about it. If somebody searches the Register, The National Will Register alerts the law firm holding the Will, who can then respond to the enquiry as appropriate. The National Will Register does not release any details directly to an enquirer.

Registering your Will in this way ensures that it is easily traceable by your executors and beneficiaries after your death and so that it is not overlooked.

To make a Will in England and Wales, you must be 18 years or over, and it is never too soon to make a Will. There is no upper limit to making a Will, but you must of be of sound testamentary capacity.

Making a Will is often dictated by life events such as marriage, having children or purchasing property, however there is no reason why you shouldn’t have a valid Will in place before such events.

You can amend your Will at any time.

Generally speaking, it is advisable to review your Will every 3-5 years, or if there has been a significant change in your circumstances or those of any of your beneficiaries.

These include:

• Marriage or divorce
• Birth of children
• Sudden illness
• Moving to a new country
• Buying property overseas
• A change in financial circumstances e.g. receiving an inheritance

We also recommend that you keep your Wills under review in light of any recent changes to legislation affecting Wills and estate planning.

• Consider making an LPA
• Wills for business owners.

A Will is the cornerstone of effective estate planning. With a Will, you can ensure that your assets pass in accordance with your wishes, that they are properly protected, and that tax is mitigated as far as possible.

Without a Will, your assets may not pass as you would want them to. Depending on the value and nature of your assets, they may not all pass automatically to a spouse or partner. Equally, the tax position may be less favourable if you rely on the intestacy provisions, which apply where there is no Will. In addition, as the intestacy provisions simply provide rigid rules as to who should benefit from your assets and in what proportions, this can lead to disputes in Court following your death. Such disputes can often be avoided by the more nuanced approach that you can take with a professionally drafted Will.

Our fees are quoted on an individual basis, once we have met and discussed matters. This is because we offer a genuinely personal service to create Wills for you that are carefully drafted to reflect your wishes and requirements.

Following our meeting, we will advise you on a range of options and provide you with the fixed fee costs for the preparation of your Wills, based on your wishes, so that you are fully informed before you formally instruct TWM.

Our charges for single Wills are typically between £950 and £1,850 plus VAT (at the current rate of 20%).

Our charges for mirror Wills are typically between £1,350 and £2,500 plus VAT (at the current rate of 20%).

This would also be the case if you decide to include trust structures in your Wills, for asset protection or tax planning purposes.

The value you receive is in the advice, giving you peace of mind that on your death, your assets will be distributed according to your wishes, planning ahead those important future decisions. Preparing a Will before you die ensures your property and possessions are protected the way you want for your loved ones.

If you decide not to proceed, we would not charge for the initial meeting.

If you are happy to proceed after our initial meeting, we will ask at that stage that you make a payment on account of the proposed charges.