Wills & Estate Planning
About Us
What Is A Will?
A Will is a document that expresses a person’s wishes as to what will happen to their assets on their death. A Will is the only method to ensure that your wishes are carried out after your death.
What happens without a will?
Without a valid Will, assets will pass by the Law of Intestacy which may not be what you would have wished. In any event, it is likely to take longer than if a Will had been made, would likely cost more money for the estate and could lead to the estate being taxed more.
During this time, your beneficiaries will not be able to draw any money from your estate. This can cause arguments between, and distress for, your loved ones.
Updating An Old Will
If you have an existing Will, it may need updating to reflect a change of circumstances, for example including additional grandchildren or removing people who you no longer wish to benefit.
It may also be the case that an old Will is no longer the most efficient way to distribute an estate due to changes in the law. It is highly advisable that a Will is reviewed every three to five years.
Inheritance Tax Planning
The Rules of Inheritance Tax have become more and more complex in recent years. Having a professionally drafted Will can ensure that your estate is distributed in the most tax efficient manner.
Protection Of Assets
It is a fairly common wish for assets to be protected, this could be from a spouse remarrying or from a spendthrift child. Professionally drafted Wills can include provisions for trusts to be set up on your death to ensure assets are protected.
Will writing is not part of the Openwork offering and is offered in our own right. Openwork Limited accept no responsibility for this aspect of our business. Will writing is not regulated by the Financial Conduct Authority.
HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.
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The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested.
We have Advisers based across the UK so get in touch today to arrange your appointment and see how we may be able to help you – we offer virtual and telephone appointments at a time to suit you.