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Wills, Trusts & Estates Solicitors
What is a Will?
Wills are legal documents that set out your wishes in the event of your death, including the distribution of your property and care for your children. However, if you passed away without a Will your wishes may not be carried out, potentially causing emotional and financial strain for your loved ones. At Wright Hassall, we can work with you to create a Will that best protects your assets and family. Get in touch with us today to see how we can help.
Key information about Wills
- Without a Will, a Court may decide how your estate is divided.
- Although you can write your own Will, seeking advice from solicitors ensures it's less likely to be challenged in Court.
Why you should have a Will
Here are a few reasons why you should have a Will:
- It makes it clear who gets your assets.
- It prevents your assets being given to those you don’t want to receive them.
- You can state who will take care of your children. Without a Will this decision will go to Court to make the decision.
- It will be quicker and easier for your loved ones to access your assets.
- You can prevent or reduce estate taxes being paid.
For help and guidance creating and managing a Will, get in touch with our Will Lawyers today for further support.
What is a trust?
Trusts allow you to manage assets, such as money or property, for the benefit of others. There are several types of trusts, including:
- Interest in possession trusts.
- Discretionary trusts.
- Bare trusts.
- Mixed trusts.
- Settlor-interested trusts.
Why set up a trust?
Trusts offer control and protection of assets, enabling you to:
- To protect and control your family assets.
- To pass on assets while the settlor is still alive.
- To pass on assets when the settlor is dead - this is referred to as a ‘Will trust’.
- When a beneficiary can not deal with their assets because they’re too young.
- When someone's affairs cannot be handled due to them being incapacitated.
Explore how trusts can safeguard your assets by speaking to our Trust Solicitors today.
What are estates?
An estate represents everything a person owns, including land, property, investments, and possessions. This can also be referred to as a person's net worth.
How are estates managed?
Personal representatives, such as executors or administrators, handle estates after someone passes. This role involves paying any applicable taxes and managing the estate’s assets.
For estate planning assistance, contact our dedicated Estate Planning Solicitors for expert advice.
Why choose Wright Hassall?
Our team of Wills and Estate Solicitors are dedicated to ensuring your wishes are met with sensitivity and expertise. Whether you require a straightforward Will or need help managing complex estates, we provide tailored advice on tax-efficient estate planning. Ranked in the 2023 Chambers High Net Worth Guide, you can trust our knowledgeable team to protect your legacy.
We advise clients on how to create the best Wills and trusts and properly plan an estate to ensure their assets and needs are taken care of the way they want them to be in the event of death or illness. When created properly, there is little room for disputes or questioning surrounding the plans put in place.