Here at Pannone Corporate, our team of will solicitors know that wills are very often at the bottom of the “to do” list. However, a well-drafted Will can ensure the smooth devolution of your assets to the next generation whilst, most importantly, avoiding will disputes or problems following your death.
As will solicitors we have many years experience drafting wills ensuring tax efficiency and meeting individual family objectives. Advice on how your will can achieve your objectives and deal with circumstances such as marriages, children from previous marriages and estranged family members is vital in avoiding problems for your beneficiaries in the future – especially if you want to avoid them dealing with contesting a will. Our will lawyers in Manchester can assist you in putting in place a structure which will enable you to look after beneficiaries as you wish, putting in place trust arrangements where necessary to avoid future will disputes.
A Will Trust often ensures that assets cannot be diverted to future partners of the surviving spouse or other people whom you may not wish to benefit from your estate. Children or vulnerable beneficiaries will also need a trust to ensure that they are able to benefit from your assets as you wish and you can decide on the timing and manner of distributions. Flexible trust structures allow the trustees to take into account future circumstances and decide when children are able to receive their assets outright without the risk of being unable to handle their finances or third party claims, avoiding the risk of them contesting a will.
Business assets or shares in a family company require specific consideration – trusts created by a will are often useful and tax efficient in this context. It is often desirable to split control and economic ownership as you may want one person to make decisions running the business and another to benefit from dividends, though experienced will lawyers can help you make this differentiation.
When making wills the possibility of future claims under the Inheritance (Provision for Family and Dependants) Act 1975 needs to be taken into account. A well-drafted will by the appropriate will solicitors should ensure that the possibility of someone bringing a claim that they have not received “reasonable provision” is minimised and will disputes can be avoided. It is often possible to create flexibility in the will to manage such claims should they arise without making outright provision.
The will dispute lawyers at Pannone Corporate can help identify whether there is anyone who would be able or likely to make a claim against a client’s estate and if so advise on how this should be dealt with bearing in mind the client’s objectives. We know will disputes are costly and time-consuming so aim to prevent them arising/resolving them promptly where possible.
We also specialise as will lawyers for non-domiciled clients with non-UK assets and offer advice on Inheritance Tax planning involving Double Tax Treaties as well as will disputes. We have significant experience dealing with HMRC in relation to the application of Treaty exemptions.
For more information about contesting a Will, setting one up or about our will dispute services, please call us on 0800 131 3355 use the below enquiry form for a free, no obligation discussion.