What are the benefits of putting life insurance policy into a trust?

What are the benefits of putting life insurance policy into a trust?There are some significant benefits to putting a life insurance policy into a trust (called “written in trust”) and it’s important to consider whether this is an option for you.When you take out a life insurance policy you are naturally thinking of your loved ones and it is a fair bet that you would be hoping that the money would be quickly distributed and in full.However, a life...

What happens if a gift in my Will fails?

What happens if a gift in my Will fails?When we make a Will, we often think that our wishes will be carried out exactly as we expect but life is rarely straightforward and there can be circumstances where gift in a Will can fail.So, before you make your Will it is a good idea to think about the potential circumstances where your gifts could not work out the way you intended.No longer owning the giftThis is a pretty common...

Can I hand write my Will?

Can I hand write my Will? This is a question that often gets asked and it may seem at first glance like a sensible thing to do. Indeed, it is legal to handwrite your Will in the UK and it might seem like a quick and cheap option but nothing could be further from the truth. There are some significant issues with handwriting your own will and we would strongly advise against it. The first problem with this method of drawing up your...

Not made a Will? – this is where your money will go

Not made a will? – this is where your money will go If you haven’t made a will (called intestacy) then there are strict rules that could well end up flouting your wishes.Death intestate is remarkably common in the UK. If fact new research shows that 50% of people don’t have a will and this increases to 72% in the 35-55 age bracket.Just because it is common though doesn’t mean that it isn’t upsetting and the lack of a clear...

The common mistakes people make when they don’t make a will.

Mistakes people make when they don’t make a will If you haven’t made a will then you may think that all of your money might just automatically go to your partner but nothing could be further from the truth. In fact, there are strict laws that set out how assets should be distributed upon someone’s death if they haven’t made a will. Passing on without a will or intestacy as it’s called in law is unfortunately quite common but it can cause...

Will Writing Software

Will Writing Software There are various will writing software packages out there for professional solicitors and members of the public alike. With so much choice it can be a confusing place for an individual without any legal knowledge or experience to ensure they are making a sensible decision.  Should I use a solicitor? The first thing that anyone should consider before they write a will is whether or not a solicitor is needed. Many people assume that wills can only be written...

How you should choose an executor for your Will

If you are in the process of writing a will then you might be wondering about how to choose an executor. What does an executor do? Your executor is the person who makes sure that your wishes, as set out in your will are carried out and consequently it’s an important position.Very few estates are straightforward and so someone needs to be appointed who can handle all of the administrative tasks that come with carrying out the job.Your executor will need to gather together...

Are you a parent? – this is why you need a will

If you are a parent - whether you’ve just started a family or if you have older children, then you may well be thinking about whether parents really need a will.We can’t emphasise enough that parents need to make sure that they have a legally valid will and that they periodically review their documents and see whether it continues to reflect their wishes. Removing uncertainty When people pass on, it is often difficult for those left behind to fully understand what their loved ones wishes actually were.Trying...

Can I change my will once I have made one?

Can I change my will once I have made one? Once you have written your online will it is easy to sit back and think that you’ll never need to worry about the issue again however it is important to remember that things change and you should regularly review your will to make sure it’s still current. Why would I want to change my will? The simple answer to this is to ask you to think about how life was five or...

Physical and Digital storage…

Where should I keep my will? This is something that is often not thought about until after a will is actually written but although it may seem a simple and practical question, it is a really important issue to think about. When a person passes on, it is a time of great stress for their family and friends and finding all of the paperwork required, including the last will is frequently cited as one of the biggest problems. Although they may have...