The importance of preparing a proper Will so that you decide who should inherit your property cannot be understated.
Have you considered who should be your executor entrusted with the responsibility of handling your property after your death? Have you properly considered how your assets are held, and whether anyone should be especially provided for? Are you concerned that the gifts made in your Will are not later challenged? What about blended families on remarriage?
More often than not, most people just want to make sure that it's all taken care of properly and their assets fo to their intended beneficiaries, with no fuss and no great expense. Lawley Legal will assist you with your decisions and Will making process, no matter how simple or complex you want your Will to be.
Sometimes however, the size of your estate and the personal circumstances of your beneficiaries may require consideration as to whether a testamentary trust is more suited to your needs and circumstances.
You can place all or part of your assets into a discretionary trust. This will empower your executor to manage your estate until your children reach adulthood, or longer if you wish. The discretionary in a discretionary trust has advantages including protecting assets in the event of unforseen circumstances and income streaming to beneficiaries under 18 years of age at the adult rates rather than the highest rate of taxation.
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