POSADA & CO
YOUR FULL NAME
If you would like mirror Wills for you and your spouse, please enter your spouse's name as well.
YOUR EMAIL ADDRESS
YOUR EXECUTORS (please include their address and your relationship with them - e.g. my mother Martha Smith)
The duties of an executor are to collect in the estate of the deceased, to pay the deceased’s debts and, after payment of any inheritance tax, to distribute the estate to the persons entitled under the Will. You can appoint between one and four executors, but if you appoint only one or two it is advisable to include substitute executors in case an executor is unable to act. You may wish to appoint a firm of Solicitors as one of your Executors to ensure due diligence and efficient distribution of your estate.
YOUR FUNERAL WISHES
You may include funeral directions in your Will but these will not be legally binding. You are advised to let your close family know of your wishes in case your Will is not referred to until after the funeral. If you have strong wishes regarding organ donation you should ensure these are communicated to those closest to you and that you carry organ donation cards.
You may appoint guardians of your minor children under the age of 18 in your Will. Generally the appointment of guardians will only take effect when both parents have died. Special rules may apply if you are a single parent, divorced or in a civil partnership. It is advisable to discuss the appointment with the intended guardians to ensure that they understand and accept their responsibilities. They need to have a good working relationship with your Executors/Trustees. In view of the potential disruption to the guardian’s own family and the cost of caring for an additional child or children, you may wish to make a legacy or other provision for the guardians in your Will. We can advise you further.
You may wish to include gifts of cash, or gifts of personal belongings in your Will.
Your residuary estate is what remains after your executors have paid all debts, expenses, tax, administration costs and legacies. If you are married or in a civil partnership, you may wish to benefit your spouse or civil partner outright (or there may be taxation and other advantages in using a continuing trust). We can advise you further. If your spouse or civil partner does not survive you, then you may wish to benefit your children (if any) in default. If they are minors or young adults you may wish to delay distribution of capital to them until they are older (e.g. 18, 21 or 25). We can advise you further. In the event that none of your residuary beneficiaries or default beneficiaries survives you, (for example you are all involved in a common accident) you are advised to appoint ultimate default beneficiaries to prevent your estate being distributed in accordance with the laws of intestacy. It is recommended that you and your partner have identical ultimate default provisions (e.g. ½ to each side of the family); this eases the administration and ensures fairness between the two sets of families. Charities can also be named as default beneficiaries.
When drafting a Will for you, it is important for us to understand what factors are of fundamental importance to you. It is helpful to know your response to the following questions which we can discuss further with you and take into consideration when drafting your Will. Please let me know whether you have any questions in connection with the Will or whether you have other considerations you would like to be included in the Will - such as your business or you have children from a previous relationship, etc.
Would you like more information about Lasting Powers of Attorney?
As part of the Will making process - we provide 25% discount if clients instruct us to prepare their Lasting Powers of Attorney with the Wills.
Would you like more information about Living Wills/Advance Directions?
As part of the Will making process - we provide 25% discount if clients instruct us to prepare their Living Wills/Advance Directions with the Wills.
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