Do you need a Will?

Do you:

  • Have more than £5,000 in assets?
  • Own a property?
  • Have children or planning to start a family?

Are you:

  • Separated from your partner/spouse?
  • Concerned about Inheritance Tax?
  • Living as unmarried partners or planning to marry?

Wills

If you have answered yes to any of the above questions, you should consider writing a Will. Most people know the importance of making a Will, but for one reason or another never get around to it or think that because they do not have considerable savings or property, they do not need to. Without a Will, the government (through the Laws of Intestacy) will decide how your estate is divided when you die. Under these laws, even if you are married, your surviving spouse may not inherit all of your assets, and if you have children they would be able to claim their share of your estate when they turn 18 (16 in Scotland). By writing a Will you can ensure your assets go to the people you want to leave them to and at an age you want them to receive it. Ensure your children are protected and appoint Guardians for those under 18 in your Will.

Whilst the standard service is suitable for 75-80% of our clients, below is a short video and table of service inclusions to ensure you choose the service that is right for you.  

Service Inclusions
Standard Service
Advanced Service
The appointment of Executors and Trustees to administer your wishes and control how your assets are distributed
The appointment of Guardians to look after your minor children
The distribution of your assets through the provision of specific (legacy) and residual gifts
The inclusion of simple trusts for minor children for them to inherit up to the age of 25
Reference funeral and organ donation requests
Generic Inheritance Tax advice including gifts to charities and making use of allowances throughout your life time
Straightforward intentions to leave assets outright to named beneficiaries, allowing them to decide what happens in the future
Protect assets for your children in the event your spouse or partner remarries or updates their Will after your death
Protect vulnerable beneficiaries including those with a disability or a history of drug/alcohol abuse
Protect assets for your children from previous relationships whilst not disadvantaging your new spouse or partner
Allow someone to remain living in your property or to receive an income for a period of time before passing to other people
Inheritance Tax saving advice for unmarried couples with children who have a net worth in excess of £500k
The ability to change the beneficiaries of your Will through a letter of wishes instead of having to change the Will
Generational Inheritance Tax planning for high net worth individuals
Service Inclusions
Pilot Trusts
Places Death-in-Service benefits in Trust
Safeguards capital for children
Provides protection in the case of death, divorce or bankruptcy of the beneficiary
Service Inclusions
Health & Welfare
Property & Financial Affairs
If capacity is lost I would like someone to make healthcare and medical decisions, decide where I should live (at home or in care) and make decisions on life-sustaining treatment
If capacity is lost or I have a physical impairment, I would like someone to be able to buy/sell property on my behalf, deal with bills and run bank accounts
Product
One-off
payment
3 monthly
instalments
6 monthly
instalments
12 monthly
instalments
Standard Single Will
£248.00
£85.00 (£255.00 total)
£43.50 (£261.00 total)
£23.00 (£276.00 total)
Standard Mirror Wills
£401.00
£137.00 (£411.00 total)
£70.50 (£423.00 total)
£37.00 (£444.00 total)
Advanced Single Will
£480.00
£164.00 (£492.00 total)
£84.00 (£504.00 total)
£44.00 (£528.00 total)
Advanced Mirror Wills
£867.00
£296.50 (£889.50 total)
£152.00 (£912.00 total)
£79.50 (£954.00 total)

Other Services Available

Pilot Trusts

A Pilot Trust is a useful vehicle in which to potentially direct the payment of any lump sums payable from work based life cover or pensions. The main purposes of the trust are the protection and management of these large capital sums by people that you appoint (trustees) for the use and benefit of your loved ones (beneficiaries).

Typically such work based benefits would be nominated to a loved one via a simple ‘nomination of benefit form’ that is often outdated or potentially unactionable (i.e. nominating to minor children) leaving the administrators of any schemes needing to make an alternative payment as they feel appropriate but which may not be in accordance with your wishes.

The Pilot Trust can offer incredible versatility ensuring your changing wishes can be acted upon by your trustees keeping your wealth in your bloodline and any distribution and benefit is how you would intend and as tax efficiently as possible. The Trust itself can distribute or support your family through direct gifts or loans of the capital or even to grant the use of an asset held in trust.

Although Inheritance Tax should not be the sole reason for establishing a Pilot Trust, they may also offer the ability to significantly reduce a family’s future inheritance tax liability by protecting large capital sums payable that would otherwise be paid to an individual forming part of their future taxable estate.

Service Inclusions
Standard Service
Advanced Service
The appointment of Executors and Trustees to administer your wishes and control how your assets are distributed
The appointment of Guardians to look after your minor children
The distribution of your assets through the provision of specific (legacy) and residual gifts
The inclusion of simple trusts for minor children for them to inherit up to the age of 25
Reference funeral and organ donation requests
Generic Inheritance Tax advice including gifts to charities and making use of allowances throughout your life time
Straightforward intentions to leave assets outright to named beneficiaries, allowing them to decide what happens in the future
Protect assets for your children in the event your spouse or partner remarries or updates their Will after your death
Protect vulnerable beneficiaries including those with a disability or a history of drug/alcohol abuse
Protect assets for your children from previous relationships whilst not disadvantaging your new spouse or partner
Allow someone to remain living in your property or to receive an income for a period of time before passing to other people
Inheritance Tax saving advice for unmarried couples with children who have a net worth in excess of £500k
The ability to change the beneficiaries of your Will through a letter of wishes instead of having to change the Will
Generational Inheritance Tax planning for high net worth individuals
Service Inclusions
Pilot Trusts
Places Death-in-Service benefits in Trust
Safeguards capital for children
Provides protection in the case of death, divorce or bankruptcy of the beneficiary
Service Inclusions
Health & Welfare
Property & Financial Affairs
If capacity is lost I would like someone to make healthcare and medical decisions, decide where I should live (at home or in care) and make decisions on life-sustaining treatment
If capacity is lost or I have a physical impairment, I would like someone to be able to buy/sell property on my behalf, deal with bills and run bank accounts
Product
One-off
payment
3 monthly
instalments
6 monthly
instalments
12 monthly
instalments
Single Pilot Trust (for one person)
£773.00
£264.50 (£793.50 total)
£135.50 (£813.00 total)
£71.00 (£852.00 total)
Joint Pilot Trusts (for a couple)
£969.00
£331.00 (£993.00 total)
£169.50 (£1,017.00 total)
£89.00 (£1,068.00 total)

Lasting Power of Attorney

A Lasting Power of Attorney (LPA) gives another individual the legal authority to look after specific aspects of your financial affairs or health and welfare should you lose the physical or mental capacity to do so. Once considered as something only for the elderly; it is equally as important for younger people who may become incapacitated through accident or illness.

In the event you become mentally incapacitated, without an LPA in place, relatives may face long delays and expense in applying to the court of protection to get access and take control of your assets and finances.

LPAs are designed specifically to be recognised by financial institutions, care homes and local authorities, as well as tax, benefits and pension authorities. They are legal documents that, like Wills, can be set up by anyone independently but are usually set up by an experienced professional in order to identify and address any specific areas of concern and to ensure validity. Many people consider having one alongside their Wills.

*Please note there is a fee of up to £82 to apply to register each LPA with the Office of the Public Guardian (OPG) paid directly to the OPG by you. The fee payable is dependent on your level of earnings and/or benefits received.

Service Inclusions
Standard Service
Advanced Service
The appointment of Executors and Trustees to administer your wishes and control how your assets are distributed
The appointment of Guardians to look after your minor children
The distribution of your assets through the provision of specific (legacy) and residual gifts
The inclusion of simple trusts for minor children for them to inherit up to the age of 25
Reference funeral and organ donation requests
Generic Inheritance Tax advice including gifts to charities and making use of allowances throughout your life time
Straightforward intentions to leave assets outright to named beneficiaries, allowing them to decide what happens in the future
Protect assets for your children in the event your spouse or partner remarries or updates their Will after your death
Protect vulnerable beneficiaries including those with a disability or a history of drug/alcohol abuse
Protect assets for your children from previous relationships whilst not disadvantaging your new spouse or partner
Allow someone to remain living in your property or to receive an income for a period of time before passing to other people
Inheritance Tax saving advice for unmarried couples with children who have a net worth in excess of £500k
The ability to change the beneficiaries of your Will through a letter of wishes instead of having to change the Will
Generational Inheritance Tax planning for high net worth individuals
Service Inclusions
Pilot Trusts
Places Death-in-Service benefits in Trust
Safeguards capital for children
Provides protection in the case of death, divorce or bankruptcy of the beneficiary
Service Inclusions
Health & Welfare
Property & Financial Affairs
If capacity is lost I would like someone to make healthcare and medical decisions, decide where I should live (at home or in care) and make decisions on life-sustaining treatment
If capacity is lost or I have a physical impairment, I would like someone to be able to buy/sell property on my behalf, deal with bills and run bank accounts
Product
One-off
payment
3 monthly
instalments
6 monthly
instalments
12 monthly
instalments
Single (for one person)
Property & Financial Affairs LPA
£236.00
£81.00 (£243.00 total)
£41.50 (£249.00 total)
£22.00 (£264.00 total)
Single (for one person)
Health & Welfare LPA
£236.00
£81.00 (£243.00 total)
£41.50 (£249.00 total)
£22.00 (£264.00 total)
Single (for one person)
Property & Financial Affairs and Health & Welfare LPA
£412.50
£141.00 (£423.00 total)
£72.50 (£435.00 total)
£38.00 (£456.00 total)
Joint (for a couple)
Property & Financial Affairs LPA
£412.50
£141.00 (£423.00 total)
£72.50 (£435.00 total)
£38.00 (£456.00 total)
Joint (for a couple)
Health & Welfare LPA
£412.50
£141.00 (£423.00 total)
£72.50 (£435.00 total)
£38.00 (£456.00 total)
Joint (for a couple)
Property & Financial Affairs and Health & Welfare LPA
£732.00
£250.50 (£751.50 total)
£128.50 (£771.00 total)
£67.50 (£810.00 total)

Document Storage

It is quite sufficient to keep your Will in a safe place at home. However, if you were to die in a house fire and the Will was destroyed at the same time, you will have died without a valid Will. If your Will is damaged in any way which could cast doubt on its intent, the courts may deem it invalid. A large number of Wills go missing or are fraudulently altered each year, so to avoid this it is advisable to keep your Will in a secure fireproof deposit.

Document Storage by James McKenzie ensures your Will is stored securely onsite in flood and fire proof safes. We shall correspond with your Executors and/or Beneficiaries annually so that in the event of your death they know where your original Will is held.

As part of the service, James McKenzie shall register your Wills on Certainty the National Will register at no additional expense (The usual cost is £30.00) so if a loved one or close friend attempts to locate your Will online and visits the UK’s largest database, they will be redirected through to James McKenzie to assist with releasing the Will.

By electing the document storage service by annual direct debit through the links provided below, you will have the peace of mind that your Wills are safe and secure and that your Will cannot be destroyed, lost, or forged by a disgruntled relative.

Service Inclusions
Standard Service
Advanced Service
The appointment of Executors and Trustees to administer your wishes and control how your assets are distributed
The appointment of Guardians to look after your minor children
The distribution of your assets through the provision of specific (legacy) and residual gifts
The inclusion of simple trusts for minor children for them to inherit up to the age of 25
Reference funeral and organ donation requests
Generic Inheritance Tax advice including gifts to charities and making use of allowances throughout your life time
Straightforward intentions to leave assets outright to named beneficiaries, allowing them to decide what happens in the future
Protect assets for your children in the event your spouse or partner remarries or updates their Will after your death
Protect vulnerable beneficiaries including those with a disability or a history of drug/alcohol abuse
Protect assets for your children from previous relationships whilst not disadvantaging your new spouse or partner
Allow someone to remain living in your property or to receive an income for a period of time before passing to other people
Inheritance Tax saving advice for unmarried couples with children who have a net worth in excess of £500k
The ability to change the beneficiaries of your Will through a letter of wishes instead of having to change the Will
Generational Inheritance Tax planning for high net worth individuals
Service Inclusions
Pilot Trusts
Places Death-in-Service benefits in Trust
Safeguards capital for children
Provides protection in the case of death, divorce or bankruptcy of the beneficiary
Service Inclusions
Health & Welfare
Property & Financial Affairs
If capacity is lost I would like someone to make healthcare and medical decisions, decide where I should live (at home or in care) and make decisions on life-sustaining treatment
If capacity is lost or I have a physical impairment, I would like someone to be able to buy/sell property on my behalf, deal with bills and run bank accounts
Product
Annual payment
Standalone Storage
Single
£17.50
Standalone Storage
Couple
£27.50
Annual Storage & Updating Service
Single
£55.00
Annual Storage & Updating Service
Couple
£80.00

* These Costs all include VAT; the quoted Voluntary Plus prices are at a 30% discount to our published prices if a one off lump sum payment is selected.

Payment can be made in full or over 3, 6 or 12 monthly instalments. Options can be selected at checkout.

Click to register and select the services you require and proceed with writing your Will.

To learn more about James McKenzie, visit www.jmwills.co.uk

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