Writing A Will | Niche Will Writing

Coming of age for Gay Wills

January 28, 2010 By admin 4 Comments

writeawill Coming of age for Gay Wills

Labour will be remembered for the introduction of the Civil Rights Act 2004 which saw equality granted to all including Gay couples.

Gay couples have always made Wills for asset disbursements to the ones they love. However, what the Civil Rights Act did was to put Gay couples on an equal footing so when the recent Inheritance Tax law was introduced there was a financial reason to celebrate Gay marriage apart from the emotional one. So what changed? Well the IHT tax exempt level now transfers to the Gay spouse on death. Effectively doubling the benefit and keeping those valuable pink pounds away from the taxman.

Making a Will can also be the mechanism for recognising a previous life-style, perhaps an ex-wife, who you never fell out with but was not longer right for you. Wills are confidential documents and absolute discretion will be observed. This means that your new partner does not have to be informed any arrangements of your ex if that is what you want.

The Gay appreciation of art and style is often revered above that of heterosexuals. A Will allows for artefacts to be passed to a particular recipient unlike the crude laws of intestacy which do not recognise individuals beyond a set pattern.

Writing a Will should not be attempted without professional legal help from a Will Writer as a poorly written Will may be challenged in Court or indeed fail altogether. To ensure creditability check your firm is a Member of The Society of Will Writers.

Landlords Should Make A Will

January 21, 2010 By admin Leave a Comment

Writing a Will is often associated with leaving sentimental objects to a doting nephews or nieces, however the buy-to-let boom in the Noughties witnessed a huge growth in would-be landlords including here in our city, London.

As a London Will Writer I always believe tangible assets help our customers realise the effectiveness of drafting a Will as the commodity is that much more apparent and visual.

Buy-to-lets do have tax implications. If the property is sold capital gains tax applies and if it is kept beyond death then there are likely to be Inheritance Tax implications for your Estate. This level of tax is often further exasperated in London due the typically higher property values.

The asset itself is of course illiquid in the sense that it is not an investment that can be realised quickly. The house selling process typically takes a few months and this can create major complications when trying to dismantle an Estate evenly to next of kin through Probate. It is also a catch twenty-two as money might be needed immediately to meet the IHT bill yet a fire-sale will mean a reduction in the yield from the sale, enough to make the dearly departed turn in their grave.

A Will can simplify the process as the beneficiary can be identified. For professional landlords this could mean identifying certain properties go to their named children.

It is not always possible to have foresight as death can strike without prior warning. However, it may be worth considering gifting some of the portfolio to children. Lifetime gifts that happen seven years prior to death are usually exempt from inheritance tax.

We at Niche Wills in London, ensure that our Legal Consultants make Wills that take into account portfolios of all sizes and impart their advice on tax mitigation.

To find out more please contact us on:

Niche Wills, Will Writers in London
T: 020 7993 2044

W: www.nichewills.co.uk

Filed Under: Business Planning, London Will Writer, Making a Will, Writing a will Tagged With: draft a Will, Estate Planning, Kensington, Landlord Wills, London Will Writer, making a will, Osterley, Professional Will Writing services, Richmond, Southall, Will Writer Hounslow, Will Writer in Acton, Will Writers in West London, Wills in London, Writer in Richmond, Writing a will

Divorced? Then Make A Will!

December 28, 2009 By admin Leave a Comment

As London Will Writers we get a clear insight into the unpredictability of people’s feelings towards one and other. For instance, we often sense a greater bond within Will makers that are Divorced than those in current relationships. Sure there are those that truly despise their ex’s and what never consider them when writing a Will, however on the flip side there are those who have seemingly become best of friends. We also witness the unbalanced marital- split where one party appears to have moved on to a much greater extent than the other.

Making a Will is empowering and adaptable to legislate for all of these scenarios. If you read on you will formulate your own views on how a writing a Will can reflect your own wishes.

Well why is a Will necessary? Many people draft a Will to avoid family squabbles and second guessing in the event of their death. For the families of divorcees this is more likely as there will often be greater magnitude of grey areas which could ultimately culminate into distasteful court proceedings and legal challenges.

Why can it be so messy? Well divorcees are statistically more likely to divorce again. This could mean they have nurtured their own and indeed other siblings along the path of life. How can someone else determine the emotional and material importance you place on each and everyone of them? Logic might suggest that the true-bloodline is favoured but do you discount the other children you have helped raise? And, if so to what extent? The truth is only you can decide the answer to this question and the only place for legal reference is within a Will. A Will is clever for it can specify specific items like a piano to go to the most musical child, it also can divide monetary value by amount or percentage. A skilled Will Writer would be able to took through these and variety of other options to meet your needs when you write a Will.

A Will also is the most appropriate medium to specify your dying wishes, which may be to invite or exclude your ex-partner from the funeral. Suffice to say the request must be practical and contain a means of the Executors to contact them. Importantly for the Executors they can justify to sceptical relatives, and indeed the ex-partner, this is what you wanted.

You see Making a Will is not only a voice from beyond this world is also shouts what you always wanted to say but were either: too afraid; concerned what others might think; or simply never had the appropriate opportunity to say. If you are Divorced don’t think twice write a Will today as it not only benefits you but the loved ones’ you leave behind.

What is the next step, well Professional Will Writers specialise in making Wills and offer the most favourable terms when compared with traditional solicitors.

For more informtaion on our Will writing services please contact Niche Wills on 020 7993 2077.

Filed Under: Divorced?, Estate Planning, London Will Writer, Making a Will, Marriage, Writing a will Tagged With: Divorced Wills, draft a Will, Executors, London Will Writer, making a will, Will Writing, Will Writing services

I bet you don’t have a Will!

August 17, 2009 By admin Leave a Comment

Calling all You 30 to 40 Year Old –

Most people will have the impression that drafting a will is reserved for the elderly, however the reality is the impact of not Writing a Will can be felt at an earlier stage in life when the legal system fails to recognise the importance of a person to you, such as someone who cohabits with you.

The media is awash with the down turn in the economy and no doubt the Credit Crunch has impacted on you in some form or another. Adjustments may have been made on our spending habits such as taking much longer to assess the bargains in the shops or trawling the net for the best credit card deals.

In truth many of us are looking at the fractions such as 0.1% AER in savings for the here and now but without a Will wrapped around these extra benefits you could be unwittingly accumulating money to pass onto the Tax Man in the event of your death.

Take it from me it never occurred to me how vital Wills were in tax planning until I saw the lack of provision destroy a family close to me.

We have all seen the cheesy adverts with the old couple being happy and reassured but things have moved on. We are now aware of every single piece of glib news with instant updates filtering to us via dedicated TV channels, social networking sites, texts and the web. Inevitably these centre on the ‘Stars’ that may for instance have fallen off the rails, died young or contracted a terminal disease. Even putting aside fatal accidents and illnesses we cannot escape the plight that we will all die someday. Sorry to be so blunt but everyone thinks it’s never going to be them let alone someone in their family.

As you are reading this you are probably thinking ‘true’, but I do not think I’m alone in not having a Will, and sadly you’d be right with a staggering 67% of people who are eligible not having the provision in place, however on this occasion it is wise to be in the minority.

Now we got that out of the way, please let me advise you about a trend which is taking the nation by storm. Due to the economic climate more and more people have now been forced to plan for the future, and in doing so have taken note of their assets. The demand for life insurance and mortgage payment protection insurance is steadily rising which is understandable as we all feel more vulnerable. But it in other areas where priorities are things seem to be distorted. For example, insuring a boiler or taking out a 2 year guarantee on a TV are often pushed higher up the list in place of a Will which should deserve much higher prestige as it can determine the distribution of assets to save thousands of pounds in inheritance tax.

Why would you choose to ignore something which has such a big impact in friends and families future? The good news is Niche Wills are seeing more and more clients between the ages of 30 to 40 finally realising the need for immediate action which is very encouraging. At Niche Wills we have a tailor made Will writing service for this important age bracket as we believe this is the critical point in someone’s life for Will provision.

This is the perfect time to implement your long term protection strategy and we are able to give full guidance on all aspects of mitigating the financial traumas for your beloved should the worst happen.

Anyway, enough of the sermon! If you are still unsure whether a Will is for you or not below are some poignant points to recap why Writing a Will is in your best interests:

Anyone who fails to make a will cannot control who will inherit their property after death. In these circumstances, the assets will be distributed according to law, the law of intestacy, which is extremely likely to be against the person’s personal wishes. In extreme cases, the entire estate may fall to ‘the Crown’ (Government) instead of the people the client actually wishes to benefit.

By Draft a will the client determines precisely who inherits the property. Importantly, the client can decide who will handle their affairs after death and who will act as guardian for any dependant children who may be left without a surviving parent.

A Will can also be used to express a person’s preferences for burial or cremation and for donating organs or their entire body for medical purposes. Additionally, Making a Will provides an opportunity to reduce inheritance Tax (IHT) liability which is vital where there are meaningful assets.

Still undecided? Read on:

1 – The Government could inherit leaving your family to struggle.

2 – Your children’s step parent could benefit more from your death than them.

3 – Without a designated beneficiary your prize jewellery and medals could be unwanted and given away or sold.

4 – You may wish to preserve a life by donating a vital organ

5 – You cause a family dispute as they second guess your wishes

6 - Your loved one’s bank account may be frozen until Probate is granted

7 - You want to protect the family home and keep it away from nursing home fees

8 – It makes sense to spent a relative low amount of money now rather than have your loved ones paying substantial legal bills at the emotional time of your death

9 - By Writing a Will in trust your disabled sibling’s inheritance will still be entitled to their benefits

10 - Putting off Writing a Will is unwise as illness can affect everyone including the young

As you can see writing a simple will helps to protect you in the long terms and every effort should be made to plan for you future now rather then later.

Niche Will writing service has been formed to ensure perceptive 30 – 40s can write a will knowing that its being administered by a fully qualified wills expert.

Filed Under: Writing a will Tagged With: drafting a will, Inheritance Tax, London Will Writer, making a will, Tax planning, will writing service, writing a simple will

Cheap Wills, you get what you pay for

August 4, 2009 By admin Leave a Comment

Will writing is for everyone

Wills are not simply for rich people and no matter what your circumstances are , all people above a certain age needs to seek professional advice in regards to Making a Will and more importantly keep it up to date.

Being London Will writers we deal with all types of clients from all walks of life. However there are Wills and there are Wills. Just ask yourself one question would you trust a will which was written for next to nothing? Try to stay away from marketing strap lines such as “Cheap Wills” “5 minute wills”, “easy wills” “DIY Wills” and anything that makes drafting a will look simple as most of the time there are other factors involved with Making a Will such as Inheritance Tax and Trusts and protection for your family.

Do you trust yourself to write a will? Also what about storage updates and keeping the rest of the family informed? How about changes in laws?

Whatever you decided to do please seek professional advice as not doing so be costly in the long run.

Niche Wills have Local Will writers based around London and the M25 area who can assist you with drafting a will.

For More information please click here

Filed Under: London Will Writer, Writing a will Tagged With: Cheap Wills, London Will Writer, online wills, Professional Will Writing services, Trusts and Wills, Writing a will

London Will Writing Services

August 2, 2009 By admin Leave a Comment

Local Will Writers

London is one of the largest and most vibrant cities in the world creating massive choice in all number of key sectors, including wills.

Historically the Will industry was dominated by solicitors, however recent years has seen a real defection away as many clients have experienced poor service and worst still solicitors ‘cherry-picking’ when to get involved. This is mainly down to the nature of a will process which falls into two distinct parts: the initial hand-holding, walking through the legal jargon and form filling; to the more profitable Probate side when the will proceeds are distributed. In order to fill this void , a new sector of local Will writing Specialists has been formed to ensure a client receives a start-to-finish service.

The Will Writing Specialists are often adaptable in terms of their availability and normally aim to serve the local community. Their overheads are normally substantially reduced due to the concentration and focus on wills whereas Solicitors can be distracted by big ticket legal cases.

How do you find local Will Writers? The reality is will writers can be researched fairly quickly on the internet or in yellow pages.

In your selection you should consider the will writers with maximum credentials as retirement and estate planning is very important and you must check their qualifications to ensure you are getting advice from reputable firms as you are future protecting yourself and your family. Ask about their training plans and association with leading industry bodies such as the Society of Will Writers or National Association of Will Writers. Do not get caught by paying upfront fees and take confidence if the operation you select services more than one community, such as Niche Wills Head Office. Their main office is based in London with local Will Writers covering all within the M25 area including places such Hounslow, Kensington, Chelsea, Hammersmith, Knightsbridge, Croydon, Kingston, Tottenham and Watford.

Do not be afraid to ask the company to make more than one visit as it is important that you fully understand the whole will process and benefits. The companies based in London are likely to be more amenable in this respect.

In short, research is vital so take your take. Asking an important question now could avoid unnecessary expense and disappointment.

Tags: London Will Writer, Will Writer Hounslow, Writing a will

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Filed Under: London Will Writer, Writing a will Tagged With: London Will Writer, Will Writer Hounslow, Writing a will

Trust Wills Explained

July 31, 2009 By admin 2 Comments

Trusts and trust funds sound daunting to the untrained ear.

The reality is in our experience there are very few types of trust that get used directly by individuals in the work we do for Niche Wills in London.

The principle reasons are when they are considering writing a will and also in respect of looking after the interests of their children.

In the summary below we attempt to explain the key differences. So you can make an informed choice or narrow down your search for an appropriate adviser.

Absolute (Bare) trust

An absolute trust holds the property in the trustee’s name but allows the beneficiary to take actual possession of both the income and trust property whenever they want. For example this type of trust might be used to pass gifts to children while you are still alive.

Accumulation and maintenance trust

An accumulation and maintenance trust is designed to pass money for the welfare of children whilst they are still minors. Any surplus income that is not used is added to the trust property, which it turn will pass the children once they reach 18. At this point the trust turns into what is technically known as an ‘interest in possession’ trust. The process is differs in Scotland, as, once a beneficiary reaches the age of 16, they could ask the trustees to part with the trust property.

Discretionary trust

The trustees of a discretionary trust are empowered to decide the amount of income or capital (if any) to pay to each of the beneficiaries as none has an automatic right to either.

Discretionary trusts therefore can be used as a way to pass on property while you’re still alive and whilst still maintaining some control over it through the terms of the trust deed.

Interest in possession trust

In an interest in possession trust the beneficiary has a legal right to all the trust’s income (after expenses have been deducted), but not to the actual property itself.

For example, you wish to set up an interest in possession trust in your will. It is for instance common to consider leaving the income from the trust property to your spouse or partner and the trust property to your children when your partner dies.

Mixed trust

A mixed trust may be ideal when one beneficiary of an accumulation and maintenance trust reaches 18 and others are still minors. In this instance part of the trust then becomes an interest in possession trust.

Whilst the above hopefully gives you and insight and flavour, it is fair to say that will writers, including Niche Wills, will provide you with the exact timing and method of using the trusts in their most effective way. It is worth spending time and seeking professional advice as it could have a profound impact on your legacy.

More information on trust Wills can be found by clicking here

Filed Under: Trusts wills, Writing a will Tagged With: Inheritance Tax, London Will Writer, Trusts and Wills