What do you need in a Will?

There are the obvious things – who do you want to inherit your money and property - and who do you want to ensure your wishes are carried out.

The people who you want to inherit are called ‘ beneficiaries' and your Executors are the people responsible for carrying out your wishes

So far so straightforward.

But what if you have young children or your beneficiaries are under 18 ? A properly drawn-up will can set up a trust for them, ensuring that your Executors have the power to use your money for the children's benefit; or can pass the money to their parents for them to look after for the children. And it can appoint guardians to look after your own children - responsible for their upbringing at a time when you are not there to do this yourself.

If you have a second marriage, you may need more complicated arrangements to ensure that a new spouse is provided for, but that assets which you may have inherited from an earlier marriage are protected and will ultimately pass to your children from that first marriage. This can be done by setting up a trust in your will.

You can also cater for the possibility of a family catastrophe- who would you want to inherit if tragic circumstances cause the loss of all your beneficiaries? By planning thoughtfully for a disaster which hopefully will never happen you can help your family avoid additional problems at a time when they have many other things to deal with.

Talk to our professional advisers to ensure that everything you need is in your Will.

Contact Gillian Scott on 020 8300 9321 or gscott@wmk-law.com alternatively Contact Us