Types of Will

Basic Single Will

Making a Basic Single Will allows for the following:

• selection of executors
• selection of guardians
• allocation of specific gifts or legacies
• the allocation of the remainder of the estate
• funeral directions

This type of Will is appropriate for individuals who simply want to ensure their assets are distributed to beneficiaries of their choice.

Basic Mirror Will

Basic Mirror Wills are in principle the same as a Basic Single Will but they are made for spouses, civil partners or co-habiting partners. Theses types of Wills are identical with the only difference being the name of the partner.

Single Will with Trust

This is a Will which contains a direction that part or all of the estate is held for the lifetime of a spouse, civil partner or partner with a gift of this on the death of that spouse etc to other beneficiaries such as children.

Mirror Will with Trust

This is a Will in the same terms as a Standard Will with trust but between spouses, civil partners or partners.

Single Lasting Power of Attorney

This is a document which appoints another person to look after your financial affairs and personal welfare when you are unable to do so yourself.

Asset protection trust enables you to transfer your house to trustees to protect it from nursing home fees whilst still being able to carry on as if you still own it so that you can sell it and buy another cheaper or more expensive house as you wish. The house will then pass on your death to your chosen beneficiaries intact.

Mirror Lasting Power of Attorney

This is as per the standard Lasting Power of Attorney but between spouses, civil partners or partners.

Asset Protection Trust

The principal purpose of an APT is to safeguard an asset from claims against it in the home country of the depositor. It is a special form of irrevocable trust in which the title to the asset (deposit) is transferred to a trustee who manages the asset on behalf of named beneficiaries. Also called family protective trust in UK.

Will Storage

Keeping your Will in a safe and secure location away from you the possibility of the Will being lost or damaged is always a good option.

For more information on our storage services, please call 0845 371 2997 or discuss the service further when our advisor contacts you to finalise your Will.