
Wills
Plan for the future
with confidence
Over half of the UK’s adult population do not have a valid Will in place. While it may be difficult to think about passing away, having a legally binding Will is one of the most important steps you can take to protect your loved ones and ensure your wishes are followed.
At Bennett Oakley Solicitors, our experienced team can help you plan ahead, giving you peace of mind and helping reduce the emotional and administrative burden on your family during an already challenging time.
Your Will sets out how you want your assets to be distributed after your death. It can also include your personal wishes and instructions to help guide your family, such as:
If you have children under the age of 18, your Will should name legal guardians who would care for them in the event of your death. This is one of the most vital elements of a Will for parents, as it allows you, not the courts to decide who will take responsibility for your children’s upbringing.
Due to rising property values, more people are now affected by Inheritance Tax (IHT) than ever before. As of the 2020/21 tax year, the nil-rate band stands at £325,000. Estates over this amount may be subject to IHT at 40% on the excess.
In some cases, an additional allowance known as the Residence Nil Rate Band (currently £175,000) may apply, but only under specific conditions. Our team can provide tailored advice to help minimise your estate’s tax liability through effective estate planning.
Example: A single person with no children who leaves an estate worth £425,000 would have £325,000 exempt from tax. The remaining £100,000 would be taxed at 40%, resulting in an IHT bill of £40,000.
At Bennett Oakley, we offer:
Don’t leave your estate unprotected. Contact our team today on 01444 235232 to book an appointment. You can also email us or complete our online contact form, and we’ll respond within 24 hours.
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