We have a large team working under five partners who concentrate on Wills and Estate Planning.

Wills are at the centre of any succession plan and you are strongly advised to seek legal advice before drawing up a Will. A badly drawn Will can lead to disputes which are costly and cause delays. You should particularly seek legal advice in the following cases:

• If you are cohabiting
• If you share property (with a person other than a spouse)
• If you have recently divorced or remarried
• If you have children from a different relationship
• If you have a business or agricultural assets
• If you have children with special needs who will be provided for in your Will
• If you have assets overseas.

You will need to think who you wish to be executors and guardians for minor children in your Will.

Please download our Wills questionnaire to start planning your Wills today.

Estate planning

Thinking about your Will and succession plans can help to focus on all areas of financial planning. We have a number of contacts with independent financial advisors who can assist you with financial advice. If you own a family business, you may also wish to speak to one of our dedicated family business team who can assist with succession planning for your business.

Most of our lawyers are members of the Society for Trust Estate Practitioners and are therefore recognised as specialists in this area. We advise on the best structure to protect against inheritance tax, as well as claims arising on divorce or bankruptcy. We also advise on protective structures for vulnerable beneficiaries who, through mental and physical disability, may find it difficult to manage money.

Lifetime gifts

You may decide that it is advantageous to you and to your beneficiaries to dispose of property in your lifetime. If you make a gift of an asset to your children and survive the gift by seven years, the value of the gift will fall out of your estate for inheritance tax. This needs careful planning in view of the tax implications. You may wish to consider ways in which you continue to have access to income from the gift.

By creating discretionary trusts up to the value of the nil band for inheritance tax every seven years, you can significantly reduce the value of your estate for inheritance tax and can provide for several generations to benefit from your estate.