Having a Will gives you the peace of mind you need to ensure that your wishes will be followed on your death. The probate team at Tormeys can guide you through the process of preparing this very important document. We will help you to ensure that your family and loved ones will be adequately provided for in accordance with your wishes.
Making a will is an ideal time to consider tax planning measures for you and your family and we will advise you on the tax thresholds and engage with your tax advisor to ensure that you reduce or eliminate tax liabilities to the fullest extent.
If you have minor children, you may want to consider the appointment of guardians to look after the welfare of your children in the event of your death. You may also wish to appoint trustees(s) under your Will. The role of a trustee is to look after your assets on behalf of your chosen beneficiaries in circumstances where the beneficiaries may be too young or may lack the mental capacity to manage those assets. It is important to note that, although you may choose a certain person or persons to be legal guardian of your child or children in the event of your death, you do not have to choose the same person or persons to act as trustees if you do not believe they are best suited to manage the trust. Instead, you may appoint a different individual or individuals to act as trustees.
A will can be update or changed at any time before your death and you should review your will on a regular basis to see if amendments are required to take into account change of circumstances.