Wills help you provide
for those that you want to provide for...
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Our FAQ guide
What happens if I do not have a Will?
If you die without having made a Will, your estate and all assets will be distributed in accordance with the Rules of Intestacy. This rule may mean that those that should be provided for, are left without an inheritance and could in some cases result in your assets being left to the Crown.
A Will ensures that your assets are divided up between those you love in the way you wish them to be. You can even donate a part/all of your assets to a Charity or even exclude people from inheriting any of your estate, giving clear guidance as to why this is, to help if that individual “contests” the Will.
Can I write my own Will?
You can, like most things in life, make a Will and “do it yourself”. However, you don’t know what you don’t know. You may feel that you need a simple Will, however would you know that your needs are not straightforward and that in fact you need specialist expert advice? With a Will, you won’t necessarily know that your Will isn’t suitable, until after your passing, which is when your loved one’s would quickly find out.
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At FWP, we don’t pretend to be the cheapest service, we also don’t pretend that a Will is simple. Everyone is different, and therefore it fits that circumstances are different as well.
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We are a family business, priding ourselves on providing excellent customer service and customised solutions for your individual circumstances. We have over 40 years of experience of Will Writing and Lasting Power of Attorney’s so you can rest assured that any advice given, is based on years of knowledge and experience. We are experts in our field, so you don’t have to be.
What should I put in my Will?
A Will is a deeply personal document and there are a number of considerations you need to contemplate before making a Will. A Will is a document which clearly states your wishes regarding your estate.
You can leave everything to one individual, or multiple individuals. You can gift personal affects like jewelry to one person and money to another. You can leave charitable donations, or even exclude an individual from your Will entirely.
Additionally, here at FWP, we realise circumstances can change, so for ease of mind, we offer a review service at minimal cost.
What is an Executor?
An Executor is the person that you appoint to execute your Will in accordance with your wishes. You should carefully consider who you want to be the executor of your Will. Many people name their Spouse, Partner, close friend, relative or even their Solicitor, however it is important that you discuss this with that person first, so that they are aware that you wish for them to be an executor.
We are also asked regularly if an Executor can also be a beneficiary (someone named as a recipient of the whole or a part of your estate) of your Will. The answer is yes, in fact it is very common and indeed legal, for an executor to also be a beneficiary of a Will.
Can I appoint someone to care for my children?
Simply put, yes! In a Will you are also able to name a Guardian, or Guardians for your children if both parents pass. The Guardian will then assume all responsibility for your child/ children until they reach Adulthood.
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If both parents pass and there is no Legal Guardian outlined in the Will then it will be for the Court to decide who would assume responsibility for the child/children. This is likely to be a close relative, however it may not be someone that you would have otherwise chosen.
What is Inheritance Tax and how can I avoid it?
Inheritance Tax may not be payable if your estate is under £325,000. This is known as the Nil Rate band.
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Also, if you were to leave everything to your spouse or civil partner they would automatically inherit your allowance of £325,000. This means that they would then have £650,000 to pass on without any inheritance tax to pay.
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It is important to know, that it is possible that without the correct provisions being made, Inheritance Tax could actually be the largest beneficiary of your estate.
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At FWP, we have a team of experts that are able to advise on Inheritance Tax and what provisions you can make to limit Inheritance Tax being applicable on your estate.
I have a dependent Child with specific needs, what do I do?
A Will can make provisions for a number of circumstances. If you have a dependent child, it is possible to set up a trust, meaning that they do not inherit all the money straight away. You can set up a trustee to monitor the flow of money as and when it is needed, according to your child’s needs.
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A trust can also be set up for your children which enables them to inherit at 18, 21 or even 23 years old so that are at an age where they may be more able to manage finances.
How much does it cost to make a Will?
We at FWP know that there are companies that provide a cheaper service than us and we are aware that there are “do it yourself” Wills, but here at FWP we pride ourselves on doing things a little differently.
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We provide custom made solutions which takes all of your financial circumstances into account, enabling us to provide a first class service based on what you need, not just what you want.