Wills

Do you want to leave it up to the law to dictate who inherits your assets, or would you prefer to set out your own wishes? If you want your voice to be heard then you need to make sure you not only have a Will in place, but that it's robust and up to date enough to match your objectives.

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English law has the concept of "testamentary freedom", meaning that you can choose who inherits on your death. If you don't have a Will, it's not in every case that a surviving spouse or civil partner will inherit your whole estate on your death. 

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There’s no set rule on when you should review your Will, but any significant lifetime change should trigger you thinking about a review. Marriage, divorce, separation, cohabitation, the birth of a child, acquiring stepchildren, an inheritance, a lottery or prize win, a move abroad or a move back to a home country are just a few examples of when a review would be recommended. A fact that isn’t so widely known is that under English law a marriage or a civil partnership automatically revoke a Will made by either of the couple (unless it was expressly made in contemplation of the marriage or partnership) and a divorce or partnership dissolution has an impact on how the spouse/partner is treated under the Will. Not taking this into account could lead to unintended consequences regarding your beneficiaries.

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Tax is also an important factor. How much inheritance tax is likely to be payable? Who has to pay it, and by when? Can anything be done to reduce the tax bill? How concerned are you about the likely inheritance tax liability on your death?

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Cross border estates can bring their own complications. Will inheritance tax be due in more than one country? Should an English or foreign Will - or both - be made? Are choices restricted by legally fixed inheritance rights of beneficiaries under the local foreign law? Are there rules of marriage regimes which must be applied before a Will is followed? Will an estate administration process need to be completed in more than one country?

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We can guide you through this pathway of considerations and decisions to achieve the most suitable structure for your Will. 

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