Making a will
It can be daunting to think about preparing a will, but it need not be complicated, and it acts as insurance against family argument or the break up of the personal and business assets that you have carefully built up during your life.
Why make a will?
a) Without a will the intestacy rules apply, which means that blood relatives may inherit your estate who you had not intended, even if you are married.
b) You can ensure that people you trust look after your affairs after your death, including guardians if you have children under the age of 18.
c) By clearly recording your wishes you can avoid expensive litigation. For example if you die during the process of obtaining a divorce- until you obtain the decree absolute your spouse will inherit your estate.
d) You can ensure that you do not pay tax unnecessarily.
e) You can leave gifts to your partner, step children, friends and charities.
f) You can set up trusts to protect the people you love, whether they are your spouse, young children, disabled or elderly relatives.
How Vardags can help with making a will
Under English law a will must be in writing and signed by the person creating the will in front of two witnesses, all present at the same time. For more detail please see our guide to making a will. There must be no doubt as to what your intentions are, so the will must very carefully drafted to ensure that it will be valid and stand up to any claims. Vardags can advise what should and should not be included to reflect your individual circumstances.
Vardags can prepare a will to fit your individual circumstances. This could include trusts provisions to protect your beneficiaries if they are young, disabled or vulnerable. Indeed trusts can protect your beneficiaries against attack from divorce or creditors. We can also act as Executors if required.
Even if you already have a will it is worth reviewing it to make sure it still reflects your wishes and current legislation.
The first step is to arrange a meeting with one of our solicitors. Therefore, please call us on 020 7404 9390 or email us to make an appointment to come and see us.
Please note that Vardags provides a bespoke service to high net worth individuals seeking advice on making a will from a top private client and family law firm. Our clients or their (former) partners will typically have substantial assets or income.