Wills – UK and International
A will allows you to provide for your loved ones whilst giving you control over what happens to your money, possessions and property after you die. Some people assume that their assets are too insignificant to need a will, but if you die without having made a will, the intestacy rules will apply in an arbitrary manner. The only way to be certain that your assets pass to the relatives, friends or charities that you intend is by making a will.
Under the present intestacy rules your estate will pass automatically to your surviving family (i.e. spouse, children, parents and siblings) in a prescribed order. Co-habitees who are unmarried and not in a Civil Partnership are not currently recognised by the intestacy rules. Therefore, co-habitees will be left to make a claim on the estate claiming financial dependence if appropriate. If you have children with your co-habiting partner or from previous relationships, then those children will automatically inherit the estate. This means that if you have a partner, both your children and your partner will have to get separate legal representation in order to fight for a share in the estate. This can be a sensitive and costly situation and can be avoided by putting in place a simple will.
We understand that the drafting of a Will is a sensitive and difficult process and are there to guide clients throughout in order to offer them peace of mind. We advise on tax-effective post-death arrangements as well as suggest lifetime planning such as asset protection structures where appropriate. For further information on our services on lifetime planning please see “Inheritance Tax planning” and “Trust planning”.
Our clients include both UK resident and non-UK resident or domiciled high net worth individuals, families and entrepreneurs with assets located in the UK and often worldwide.
We have particular expertise in the drafting of International Wills to cover multi-jurisdictional assets and non-domiciled individuals. We also work with international clients to make use of double taxation treaties where appropriate.
Our approach is to deliver legal advice of the highest quality that is individually tailored, providing practical solutions to the legal and financial issues surrounding the creation, investment, protection and transfer of private wealth and assets.