MAKING A WILL

Our Wills are designed to legitimately protect and preserve more of your assets for your children and grandchildren, safeguarding your share of the family home and more against care fees, creditors and predatory third parties

Making the right will at April King

Paul King April King lawyers

PAUL KING TEP EXPLAINS:

The importance of making the right Will.

“Our Wills leave everything to each other, then the children.”

This is something we hear a lot at April King. Many couples make ‘Mirror Wills’ which first benefit their spouse or civil partner, then the kids. Unfortunately, this arrangement does not always play out as intended.

When the first person dies, the survivor is left with all of the family’s assets. If they then need care, fall into debt or remarry, the whole of the estate is at risk. The children can end up with nothing – or worse still, someone else’s children can inherit!

The problems don’t end there. Even if none of those threats transpire, the family wealth can be lost when the children themselves inherit. If they fall into financial difficulty, divorce or have care needs of their own, everything you’ve saved for can quickly vanish.

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April King’s Trust Wills aim to reduce some of these risks and to some extent, eliminate them. They can help ensure that everything you’ve worked so hard for actually benefits your children, their children and so on. For April King’s Trust Wills to work, it is essential that you own your home (and any other properties that you’d like to protect) as ‘Tenants in Common’ rather than ‘Joint Tenants’. This means that each of you own a separate share (for example, 50%) that you can deal with in your Will. If you currently own your home as Joint Tenants or one of you is the sole owner, we can change this for you. It’s important that you act now, as this sort of planning can only be done whilst you both have full mental capacity.

You can find out more about how Trust Wills work on this page. If you do have any questions, please don’t hesitate to reach out to myself or a member of my team.

Paul King TEP

Paul King is a full member of STEP, the global professional association for practitioners who specialise in family inheritance and succession planning. Full STEP members like Paul are internationally recognised as experts in their field, with proven qualifications and experience.

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Providing for the survivor

Following the Health and Social Care levy announcement, the changes, at first sight, seem beneficial. However, the reality is that without proper planning, your home is still very much at risk from a future Local Authority means test. Only the frailest are likely to qualify for financial help with care fees, those who cannot wash, feed or dress themselves.

In short, relying on any form of care fees’ cap’ is a gamble, and we recommend that couples act now to take the legitimate legal steps open to them to protect their home.

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The key to protecting your assets is not to leave them directly to the survivor after the first death. Instead, the first-to-die’s share of the assets are placed in a trust. A trust is simply a way of managing assets (money, investments, land or buildings) for people.

Paul continues, “April King Legal has helped clients protect their hard-earned assets since 1991. We have navigated uncertain times before and helped almost 40,000 clients do the same. In fact, I like to think that April King is built for tough times; thanks to our decades of experience, dedicated support staff and all of our expert local advisors. Long story short: We’ll be here today, tomorrow, and any time you need us.”

If you’ve made standard Mirror Wills, or don’t have one at all, then this can have a devastating impact on your children and your grandchildren’s future inheritance. As our clients say to us “we don’t want to be a burden to our children and just want everything sorted”, we have designed new style April Wills® with this in mind.

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April King protecting your assets
Safeguarding the family bloodline

Safeguarding the family bloodline

Our specialist type of Wills, April Wills®, now offers your family bloodline greater protection and flexibility than old-style Mirror Wills.

For example, April Wills® can include a legal “ring-fence” around your children’s inheritance. The child remains in complete control of their inheritance and can do as they wish with the money. And April Wills® gives them added protection from challenging life events such as relationship breakdown or dealing with debt.

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Life is not straightforward and has many twists and turns. A Will is one of the most important documents anyone can prepare. It should allow for the unexpected. As one of our clients put it, “belt and braces”. Safeguarding inheritance for future generations is our aim, and we would be pleased to discuss this with you further.

The word ‘bloodline’ doesn’t appear anywhere in your new April Will®. Your daughter-in-law and/or son-in-law will be none the wiser; on the surface, it looks as though you have been inclusive.

While your children remain happily married, your son or daughter will have full access and control to their own bloodline account at their bank. They can even spend their inheritance on their spouse if that’s what they want to do. But should that marriage falter, that is when the bloodline protection comes into effect. In short, your child’s inheritance is for their use only and kept outside of their matrimonial assets. Your grandchildren are stated as the ultimate destination of your estate.

Our friendly team of experienced estate lawyers are not just technically good but specialises in bloodline planning to include all types of family issues. We can talk to you about how to deal with estranged children, how couples can protect their home from future care fees and how to rebalance things when the ‘bank of mum and dad’ have made loans/gifts to one child over another.

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At April King, our lawyers will look at your individual family circumstances and explain which options would be most suitable for you.

 

April King Legal offers:

A free information pack about Wills and Lasting Powers of Attorney.

Smart ways to pass what you’ve worked so hard for down your bloodline.

A free one-hour appointment to discuss your Will, without obligation.

Highly competitive fees, and home visits at no extra charge.*

Individual bespoke advice based on your personal circumstances and goals.

Firm run by a STEP-qualified lawyer and regulated lawyer-managed process.

If, after you’ve met our advisor, you’re not convinced that our advice is right for you, simply walk away.

There’s no obligation whatsoever to proceed.

Book your free one-hour appointment, without obligation

call 0800 788 0508

9am-8pm Mon-Fri 9am-5pm Sat

April King how to protect your legacy  information guide

Order your FREE information guide by speaking to April, our digital assistant

Order your pack here

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