Discretionary Will Trust

There is a useful article/case study about why people with assets in excess of the Nil Rate Band (£285,000) should consider a Discretionary Will Trust as oppsed to a “normal” will.  Making a Discretionary Will Trust can reduce, or even eliminate, the Inheritance Tax liability on your estate.

Why give it to the tax man when you can leave an extra £114,000 to your beneficiaries?

Site available at  www.discretionary-will-trust.co.uk

Case study article here

New Year Will – but why wait?

Many people make it a New years Resolution to write a will, but why wait?

If you have decided that its something you need to do (and everyone should KNOW this) what is the point of putting it off. If anything is going to happen to you it could just as easily be tomorrow as January.

As the saying goes it is NEVER too early to make a will bhut it cfould be too late. Over 70% of people in the UK die without a will – I’m sure a lot of them were “going to get round to it one day”!

Make a Will NOW – online in minutes here

Why not use Online Wills??

There are often arguments made against making a will online, usually by people with vested interests in expressing that opinion.

It is however true that some of the online will websites are “lacking” in certain essentials which could lead the unwary inot making a (potentially costly) mistake. Although making a will online will almost certainly save you both time and money, cost should NOT be the driving factor when choosing the online will provider.

Online wills tend to cost between £9 and £45 for a single will and more for mirror wills etc.

The most important things to look for with an Online Will website are:-

1. Ensure it is solicitor checked
2. Ensure there are no hidden costs or additional costs if you decide to make changes later.
3. That there is an option to write a Discretionary Trust Will and/or Enduring Power of Attorney if required.
4. That you can print your will off IMMEDIATELY. There is little point in saving tijme if you have to wait for your will to arrive by post or email.
5. Tha the software it uses has SECURE SSL Links.
6. That it has a free trial and money back guarantee just incase.

Having looked into ALL the Online Will Writing Websites ONLY www.tenminutewill.co.uk offers all of this at a reasonable cost (£29.95). Other websites are either cheaper and lacking, or much more expensive or are similar priced but have hidden future costs should you wish to make changes.

Enduring Power of Attorney

Although I have covered this before (see main page) it is alarming how many people still make a will but not an EPA.

EVERYONE who makes a will should also make a EPA - its that simple. Especially considering you can make on in minutes for under £28.

You can EITHER make one at the same time as making your will OR if you have a will already you can simply write one as an additional document.

You can make an Enduring Power of Attorney Online here in Minutes.

Calculating Inheritance Tax

How to Calculate inheritance Tax

Every individual has a personal allowance for inheritance tax currently set at £285,000. 

Over this value your estate will be taxed at 40%. It is important to note that here is no tax to pay between spouses on the first death. However most couples make the mistake of only having Mirror (joint) Wills that pass everything to the surviving spouse.

This has the effect of giving away the first spouses tax free allowance, so on the dearh of the second partner the whole estate is assessed for inheritance tax. 

Married couples, with sufficient assets, could save the equivalent of their personal inheritance tax allowance by setting up their Wills in a discretionary trust made out in favour of their spouse or children.

You can make a Discretionary Will Trust Online here

There is a comprehensive guide to Discretionary Will Trusts here 

 

 

Making a Will

The easiest way to make a will in the uk is “online”. You can make a will online at www.online-will.co.uk

Online Wills

Have you written a Will yet? Not had time? Worried about the cost?You can complete write your will ONLINE HERE, and pay for and download your Will ready to print off and sign, right here and right now, in just a few minutes.

At any stage you can break off and save the work you’ve done, then come back later to finish. It really is as easy as that. It only takes a second to get started: Just click here. Your Will document will be just as legal as if it had been written by a solicitor – in fact effectively it will have been.

Still prefer a Home Will Writer? See the article below or click here to request a call (without obligation) from a will writer in your local area.

Make a Discretionary Will Online

Making a Discretionary Will is not difficult. One of the easiest ways to do it is with the Online Will providers.

You can now make a Discretionary Trust Will Online at various websites.

Having looked at most of the offerings available, the BEST BY FAR, in my opinion, can be found at Tenminutewill.co.uk

If you want to go direct to the Online Discretionary Will page click here

TenminuteWill.co.uk is not the cheapest provider (its marginally more expensive than the really cheap ones) BUT it ofers far more than the cheap providers can. There are numerous reasons why it is the best of the Online Will providers but the most important are:-

• It is solicitor checked – vital to ensure you don’t make a mistake.
• You can make FREE updates an changes in the future. Most of the cheaper providers will charge you to make these changes.
• You can print it off immediatley – no waiting around.
• Offers Power of Attorney if required.
• Offers binding service if required.

Visit their home page here

Go direct to their Discretionary Trust Page here

You can download a comprehensive “Guide to Discretionary Trust Wills” or Make a Discretionary Trust Will here

The Best Way to Make a Will

I am often being asked what is the best way to make a will. Well how long is a piece of string??

What I can say for certain is that what you should NOT do is write it on a fag packet OR use one of the many “forms” for DIY Wills available for Wills on the internet and elsewhere.

The WHOLE point of Making a Will is to ensure that your assets go where you want them to go with the minimum of tax paid. If you use a DIY Will there is a very good chance you will make a (legal) mistake and it will end up costing your beneficiaries a LOT of money.

So what are the options? Well I would suggest that TWO stand out.

Of ALL the options I have seen the Online Will Service from TenminuteWill is head and shoulders above the others. Not just better then the other “online services” but better than ALL the options. It is QUICK, EASY, IMMEDITE (you can print it off straight away). On top of this it costs ONLY £29.99.

In addition is is FULLY solicitor checked so you CANNOT get it wrong.

So… TWO choices – pay a measly £29.99 and get is RIGHT and Quickly, or make a DIY Will, save 29 quid and keep your fingers crossed!! Duhhhh – let me think

Visit the TenminuteWill Website here and see for your yourself!

The 2nd option is to use a high quality Will Writing Service such as WillDrafters Ltd and you can visit their website here. WillDrafters Ltd are recommended by Which? Magazine and you can get their FREE brochure at their website Willdrafters.co.uk

Saving Inheritance Tax

The main reason for making a Discretionary Trust Will is to save on Inheritance Tax. By making a Will written under a discretionary Trust you hcan save up to £110,000 in Inheritance Tax with little or no downside.

One of the easiest ways to make a Discretionary Trust Will is Online.

You can now make a Discretionary Trust Will Online at various websites.

Having looked at most of the offerings available, the BEST BY FAR can be found at Tenminutewill.co.uk

If you want to go direct to their Online Discretionary Will page click here

TenminuteWill.co.uk is not the cheapest provider (its marginally more expensive than the really cheap ones) BUT it offers far more than the cheap providers can. There are numerous reasons why it is the best of the Online Will providers but the most important are:-

• It is solicitor checked – vital to ensure you don’t make a mistake.
• You can make FREE updates an changes in the future. Most of the cheaper providers will charge you to make these changes.
• You can print it off immediatley – no waiting around.
• Offers Power of Attorney if required.
• Offers binding service if required.

Visit their home page here

Go direct to their Discretionary Trust Page here

Best Way to Make a Will (update)

Well I have been looking into all this for quite a few months now. It is becoming ever more apparent (in my opinion) that the Online route is easily the best way forward for the vast majority of people.

The main problem with this is two-fold

1. Some people are a little daunted by doing things online. It is therefore important to ensure that the online provider is easy to use and that help is available throughout the process.
2. Some of the online providers lack something.

I still believe that the Online Will-Writing service from www.tenminutewill.co.uk is quite easily the BEST of the many options now available.

Why? Simple they cover all the options at a very reasonable price (£29.95). If you find a cheaper online provider they are almost certain to be lacking in some area.

There is an excellent comparison available HERE

What is the Best Way to Make a Will? (update)

I am often being asked “what is the best way to make a will”?.

What I can say for certain is that what you should NOT do is write it on a fag packet OR use one of the many “forms” for DIY Wills available for Wills on the internet and elsewhere. The WHOLE point of Making a Will is to ensure that your assets go where you want them to go with the minimum of tax paid. If you use a DIY Will there is a very good chance you will make a (legal) mistake and that could end up costing your beneficiaries a LOT of money – if it gets to them at all!.

So what are the options? Well I would suggest that TWO stand out.

Of ALL the options I have seen, the Online Will Writing Service from 10MinuteWill.co.uk is head and shoulders above the others. Not just better then the other “online services” but better than ALL the options. It is QUICK, EASY, IMMEDIATE (you can print it off straight away). On top of this it costs ONLY £29.99. In addition is is FULLY solicitor checked so you cannot get it wrong. In addition they now have the “option” of adding an Enduring Power of Attorney and, since December 2006, have added a binding service should you require that.

So… TWO choices – pay a measly £29.99 and get is RIGHT and Quickly, or make a DIY Will, save 29 quid and keep your fingers crossed!! now – let me think??

Visit the TenminuteWill Website here and see for your yourself!

The 2nd option is to use a high quality Will Writing Service such as WillDrafters Ltd and you can visit their website here. WillDrafters Ltd are recommended by Which? Magazine and you can get their FREE brochure at their website Willdrafters.co.uk

TenMinuteWill Improvements

In addition to being (probably) the best Online Will writing website in the UK, 10MinuteWill.co.uk have recently added two new features to their menu:-

1. Enduring Power of Attorney
2. A Document binding Service

These are OPTIONAL extras and the basic cost of a fully legal and printable Will is still only £29.95.

You can see their full price list here

Why Make a Will Online?

Firstly it is simply not necessary to incur the costs involved with using a solicitor to Make a Will!

Then again making a will entirely yourself is NOT to be recommended either! If you are tempted to use DIY Will forms, PLEASE think again!. The whole point of Making a Will is to ensure your estate goes to the people you want it to go to. One small mistake could jeopardise that wish. If you make a DIY Will or use one of the many available DIY Will “forms” you may save a few quid at outset but the cost to your beneficiaries or estate could be huge.

So why Make your Will Online – well, two reasons.

1. Fast – but avoid those who do NOT let you print the Will immediately.
2. Cheap – but you get what you pay for. If you pay less than £25 for a single will the chances are that it is “lacking” in some area. Perhaps it isn’t full checked or they may charge you for future changes. ask yourself WHY its so cheap!?

There is only one Online Will Website I would actually recommend – Tenminutewill.co.uk

Why?

• Costs £29.99 for a Single Will
• Can be printed off in minutes
• Is fully legally checked
• There is NO charge for future changes to the Will

You can find out more about Tenminutewill.co.uk here

Information about Free, DIY and Online Wills

Making a Will when you have a new Baby

New Baby, New Will!

Every new parent knows it is important to make a Will, but most put off making one for a variety of reasons.

A new baby is a great blessing to any household. But with that new baby comes new responsibility. An untimely death in the family would be a great tragedy, particularly if the surviving partner then had to battle with legalities to get what they thought was rightfully theirs.

Plus there is always the question of who’s going to be the guardian, should both partners pass away together, for example in a car accident.

Will Drafters offer a convenient Wills-by-phone service and have written over 80,000 Wills since the two directors founded it in 1990. For further details and a free Will brochure Click Here

Aternativelt you can make Single or Mirror (solicitor checked) Wills Online in Minutes here