Wills & Trusts

What is a Will?

A Will is a legal document that states how your assets (estate) are to be dealt with when you die. Even if your estate is small and your intentions simple you should make a Will.

Will writing is not regulated by the FCA.

If you have made a Will already… Well done!

However is it up to date has it been written and planned correctly to save the maximum amount of tax?

…does it say what you want it to say?
…does it protect your home from care costs?
…does it minimise your Inheritance Tax liability?
…does it make transfer assets through the use of lifetime gifts?

Making a Will is the only way to ensure that your wishes are carried out after your death.

If you have not made a valid Will your property or estate may not go to who/where you may have requested. By not having a Will your beneficiaries may not be able to draw any money from your estate; which could cause arguments or distress between relatives at a time when the family should be coping with the loss of a loved one.

lf you are married, do not assume your partner willget everything. Brothers, sisters or parents may have a claim; your children may have a right to part of your estate. lf you are living as unmarried couple you may be treated as a single person. A surviving partner may get nothing at all.

Over two thirds of the UK adult population do not have a Will and half of them never will. These people are missing out on a fantastic opportunity to look after their families and frustrate the tax man.

What is a Trust?

A Trust is a legal arrangement where the legal owners of assets (money, buildings, land, personal items etc.) can give away these assets but retain the control over how they are used for the benefit of someone else.

Why use a Trust?

A trust is useful if you wish to give assets but continue to maintain control. It gives you’re the flexibility to control who benefits or the amount they get if circumstances change. They can deal with many situations such as giving to children andgroups separating capital from income, giving on special occasions or in set circumstances. Trusts can also be tax efficient by avoiding tax problems that occur with an outright gift.

Will Writing is not part of the Intrinsic offering and is offered in our own right. Intrinsic Financial Services accept no responsibility for this aspect of our business.

If you would like to discuss writing a will or trusts, please don’t hesitate to get in contact with us, or send us a message via our contact form here.