Writing a Will is often considered a later life event, however implementing a Will should actually occur much earlier. This is particularly important for parents or carers with children under the age of 18, as Wills must include a Guardianship clause; should the worse occur leaving the child without a parent, having no Will or direction from the Guardianship clause results in social services and ultimately the courts determining the child’s future.  It is also naturally good practice for all adults to write Wills, particularly if in an unmarried relationship, as assets pass down the bloodline not to each other.

The structure of the Will should also be considered. Simply passing all assets from one spouse to another (a mirror Will) can cause multiple future issues and potential challenges to the assets. A good example of this is the prime residence. The tenancy should be severed, creating ‘tenants in common’ with 50% of the prime residence entering a property trust upon first passing. The remaining spouse then becomes a life tenant of the property. Please contact us for further information on this, particularly for senior family members.