Wills and Trusts: Key Questions Answered

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A: Without a valid Will, your property will be allocated based on the “rules of intestacy.” These strict legal guidelines might not align with your wishes, potentially resulting in assets passing to someone other than your intended beneficiary.

A: Yes, a Trust can facilitate this arrangement.

A: Yes, a Will can include specific instructions for your Executors to ensure your wishes are honoured.

A: Unmarried partners do not benefit from automatic rights under intestacy laws, even after a long-term relationship.

A: No, a proficient Will Writer can handle this using a “collective” reference and a separate document detailing your properties, lenders, and account numbers to assist your Executors. While you can add “codicils” to an existing Will, this can become cumbersome.

A: Yes, establishing a Trust can create a protective framework to ensure your children are the ultimate beneficiaries.

A: Depending on the circumstances, certain Trusts can mitigate tax liabilities.

A: No, properties with mortgages can still be included in a Trust, though choice of Lenders is restrictive.

A: Yes, if no living relatives are located, the entire estate could pass to the Crown.

A: There could be strategies that protect your assets, based on a case-by-case scenario.

A: A Will does not grant this right. A “Property and Financial Lasting Power of Attorney” is the relevant document in this situation.

A: Yes, you are theoretically passing on the duration of the lease, but the terms of the lease must be followed.

A: It is recommended to create Wills in the location of the property due to differing legal frameworks. You might have a Will for your worldwide assets, excluding Spain, and another one specifically for your property in Spain.

A: Yes, your Will can include provisions to adjust for value disparities.

A: Yes, properties held in joint tenancy do not pass according to your Will and automatically transfer to the surviving owner.

A: Ownership can be divided into percentage shares under “tenants in common,” allowing you to bequeath your share.

A: Your husband would not necessarily have to move out, but the specific circumstances of ownership would dictate any changes.

A: The inheritance details will be outlined in the company’s Memorandum of Association.

A: Yes, creating a Business Will Trust specifically tailored for your portfolio can help ensure smooth succession.

A: The timeline for drafting a Will can vary, so it’s essential to discuss this with your Will Writer.

A: Wills should be kept in a safe place, such as a secure bank safety deposit box or with a trusted lawyer.

A: Generally, the existing Will should remain intact until the new one is finalised.

A: The costs can vary widely based on the complexity of your estate. The current start price for a single Will is £350 and for a Joint “Mirror” Will is £495 (as at 5/11/2025).

A: No, we collaborate with the Hillman Legal Partnerships, members of the Society of Will Writers, who have extensive expertise in this area with over six thousand Wills written since their inception over seventeen years ago. 

A: The Hillman Legal Partnership can provide general advice on Wills, but for detailed tax planning, consulting a tax advisor is recommended.

A: No, in fact normally its a telephone interview or video call.