Question 1

What is a Will?

Accepted Answer

A Will is a legally binding document that sets out what should happen to your estate after your death. It allows you to:
Decide who inherits your assets.
Appoint executors to administer your estate.
Appoint guardians for minor children.
Create trusts to protect beneficiaries.
Express funeral wishes.
Without a valid Will, your estate will be distributed according to the intestacy rules.

Question 2

Why is having a Will important?

Accepted Answer

A Will gives you control over who inherits your assets and can help reduce disputes among family members. It also allows you to:
Protect vulnerable beneficiaries.
Provide for unmarried partners.
Appoint guardians for children.
Facilitate tax-efficient estate planning.
Ensure your wishes are clearly documented.

Question 3

What happens if I die without a Will?

Accepted Answer

If you die without a valid Will, you are considered to have died "intestate." Your estate will be distributed according to statutory intestacy rules, which may not reflect your wishes.
For example:
Unmarried partners do not automatically inherit.
Friends and charities cannot inherit unless provided for in a Will.
Guardians for minor children are not automatically appointed.

Question 4

Who can make a Will?

Accepted Answer

In England and Wales, you generally must:
Be aged 18 or over.
Have testamentary capacity (understand the nature and effect of making a Will).
Make the Will voluntarily.

Question 5

How often should I review my Will?

Accepted Answer

A Will should be reviewed:
Every 3–5 years.
Following marriage or civil partnership.
Following divorce or separation.
After the birth of children or grandchildren.
Following significant changes in assets or circumstances.
Following changes in tax or inheritance legislation.

Question 6

Does marriage affect my Will?

Accepted Answer

Yes. In England and Wales, marriage or civil partnership generally revokes an existing Will unless it was specifically made in contemplation of that marriage or civil partnership.
You should always review your Will before and after marriage.

Question 7

Does divorce affect my Will?

Accepted Answer

Divorce does not automatically invalidate your entire Will, but provisions relating to a former spouse may no longer apply as intended. It is advisable to review and update your Will as soon as possible after separation or divorce.

Question 8

Who should I appoint as my Executors?

Accepted Answer

Executors are responsible for administering your estate.
Suitable executors may include:
Family members.
Trusted friends.
Professional executors.
Solicitors or estate planning practitioners.
Choose individuals who are trustworthy, organised, and willing to act.

Question 9

What is estate planning?

Accepted Answer

Estate planning is the process of organising your affairs to ensure your assets pass to the right people in the most efficient manner possible.
Estate planning may include:
Wills.
Trusts.
Lasting Powers of Attorney.
Inheritance Tax planning.
Asset protection planning.
Business succession planning.

Question 10

What is Inheritance Tax (IHT)?

Accepted Answer

Inheritance Tax may apply to the value of your estate when you die.
Many estates benefit from available exemptions and allowances, including:
Nil Rate Band.
Residence Nil Rate Band.
Spouse or Civil Partner Exemption.
Charitable Exemptions.
Professional advice should be sought where estates may exceed available allowances.

Question 11

Can I protect my children's inheritance from divorce, bankruptcy or creditors?

Accepted Answer

Potentially, yes.
Appropriate trust planning may help protect assets for future generations while still allowing beneficiaries to benefit from them. Trusts can offer flexibility and protection in certain circumstances.

Question 12

What is a trust?

Accepted Answer

A trust is a legal arrangement where assets are managed by trustees for the benefit of beneficiaries.
Trusts can be used to:
Protect young beneficiaries.
Protect vulnerable beneficiaries.
Preserve family wealth.
Provide asset protection.
Assist with succession planning.

Question 13

What is a Property Protection Trust?

Accepted Answer

A Property Protection Trust is often used by couples who own property together.
Its purpose is typically to:
Protect a share of the family home.
Preserve assets for children and future generations.
Reduce the risk of assets being lost through remarriage, bankruptcy, or care fee claims in certain circumstances.
Professional advice is essential as every family situation is different.

Question 14

What is a Lasting Power of Attorney (LPA)?

Accepted Answer

A Lasting Power of Attorney allows someone you trust to make decisions on your behalf if you lose mental capacity or can no longer manage your affairs.
There are two types:
Property and Financial Affairs LPA.
Health and Welfare LPA.
Many practitioners regard LPAs as an essential part of estate planning.

Question 15

What happens if I lose capacity without an LPA?

Accepted Answer

Without an LPA, loved ones may need to apply to the Court of Protection for authority to manage your affairs.
This process can be:
Time-consuming.
Expensive.
Stressful for family members.

Question 16

Where should my Will be stored?

Accepted Answer

Your Will should be stored securely and be easily located after death.
Options we offer include:
Professional Will storage for a one-time fee or annual fee.
Secure home storage.
Executors should be informed where the original document is kept.

Question 17

Can I write my own Will?

Accepted Answer

While it is possible, errors in drafting or execution can make a Will ineffective or lead to disputes.
Complex family circumstances, business interests, trusts, tax planning, and property ownership arrangements usually require professional advice.
STEP and SWW both emphasise the importance of using competent and suitably qualified practitioners.

Question 18

How do I choose a Will writer or estate planning professional?

Accepted Answer

Look for a practitioner who:
Has relevant qualifications and experience.
Maintains professional indemnity insurance.
Undertakes ongoing professional development.
Follows a recognised code of practice.
Explains matters clearly and transparently.
Both SWW and STEP promote professional standards and client protection.

Question 19

When should I start estate planning?

Accepted Answer

The best time is now.
Estate planning is not just for the elderly or wealthy. Anyone who owns property, has savings, has children, runs a business, or wishes to control how their assets are distributed should consider putting appropriate plans in place.

Common FAQs on wills and estate planning in Uxbridge

FAQs

What is a Will?

Why is having a Will important?

What happens if I die without a Will?

Who can make a Will?

How often should I review my Will?

Does marriage affect my Will?

Does divorce affect my Will?

Who should I appoint as my Executors?

What is estate planning?

What is Inheritance Tax (IHT)?

Can I protect my children's inheritance from divorce, bankruptcy or creditors?

What is a trust?

What is a Property Protection Trust?

What is a Lasting Power of Attorney (LPA)?

What happens if I lose capacity without an LPA?

Where should my Will be stored?

Can I write my own Will?

How do I choose a Will writer or estate planning professional?

When should I start estate planning?

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