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Will Writing

Writing a Will is a good step in any financial plan.

A valid, up-to-date Will provides guidance to your family when the time comes, ensuring your assets pass on to your loved ones as you wish. It can also ensure that your loved ones won’t face unnecessary tax charges or a lengthy probate process, which can be the case on intestacy.

WILL WRITING SERVICES

Will writing allows you to detail exactly what you want to happen with your estate when you die, safe in the knowledge that your wishes will be followed. It can be difficult to know where to start when planning your Will but ultimately you need to take time to decide who you want to inherit your wealth and personal effects. These decisions then need to be translated into a legally binding document. It’s usually helpful to use a professional when writing your Will, who will hold specialist knowledge about estate planning.

Contact us

For enquiries or more information:

T: T + 971 (0)4 389 4900
E: info@thefrygroup.ae

WILL WRITING SERVICES (CONT.)

An up-to-date Will is a very important document but nearly half of adults in the UK haven’t yet written one. Sadly, failing to write a Will could leave your family facing uncertainty, difficult decisions and even significant tax and financial issues

WHY IT’S IMPORTANT TO WRITE A WILL?

While the subject of death can be emotional and difficult to think about, it is nonetheless important to plan ahead. You can then make sure that your loved ones are looked after and your assets pass exactly where you want them to. You can also use your Will to include information about your funeral arrangements, legacies to charities and who you’d like to inherit any personal items.

Writing a Will offers the opportunity to create a written record of your wishes. It can also help minimise any exposure to Inheritance Tax and include details of the individuals who you’d like to act as your executors in order to manage your affairs.

WRITING A WILL

Choosing how to write your Will is important. A professional will provide you with advice, and will be well informed about the latest expat tax and estate planning legislation. If you choose to write a Will yourself there could be significant legal issues left for your executors to deal with. Do remember that it’s very important to keep your Will regularly reviewed, especially if you divorce or in the event of the arrival of children and grandchildren. It’s also worth noting that if you marry you’ll generally automatically revoke any Will you have in place.

STORING YOUR WILL

Once you’ve taken the time to create your Will it’s important to store it appropriately, and ensure your family and executors know where it is and how to access it. If you have chosen to work with a professional, they should keep a copy of your Will in safe custody and you can hold a hard copy for your records.

GETTING STARTED ON YOUR WILL

Over the years our friendly team has worked with many individuals and families to help consider their estate plans. We can help you plan and write your Will, ensuring that it contains all the relevant information you need it to, and reduces your family’s exposure to tax. We will spend time with you to discuss your individual circumstances, before drafting your Will for you to review and sign. We can also direct you to suitable experts where a foreign Will is also required. You can of course choose The Fry Group to act as an Executor, to provide support and guidance to your family at what is likely to be a distressing time.

+44 (0)1903 231545

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If you have a minimum £250,000 to invest and would like to speak to someone about your Tax, Estates or Financial Planning, we’d love to hear from you. Complete the form below to arrange an initial 15-minute introductory call with a member of the team.

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All you need to know about will writing

Why is a Will important?

A Will is an important piece of estate planning that is especially important if you have children or other financial dependants – or if you want to leave something to a friend outside of your immediate family.

An effectively written Will can also help to reduce the amount of Inheritance Tax payable on the value of the assets left behind.

Should you pass away without leaving a Will, then your estate will pass in accordance with the rules of intestacy meaning certain rules dictate who should administer your estate and inherit your assets.

When should you write a Will?

Anyone aged 18 or over and of sound mind can make a Will. You should prepare a Will once you have acquired substantial assets, chosen to marry or divorce or become a parent/responsible for dependants.

This is important to have and update throughout your life as it will dictate how you wish to distribute your assets at the time of your death.

How should I store a Will?

There are two primary ways of storing a Will:

Keep hold of your Will yourself, preferably in a personal safe, locked filling cabinet or another safe location,
Have your Will held by a solicitor or other professional