Other Matters – Part 7
If you would like your Will to deal with anything not mentioned in this Questionnaire, or of any of the paragraphs below apply to you, then you should ask us for further advice. If more detailed advice is required, then the standard fee may not apply, and we shall give you an estimate of our charges.
- Jointly-owned property
If you own your home or any other property of any kind jointly with anyone else it will very likely pass automatically to the other owner when you die, whatever you say in your Will. If this is not what you want, please ask us for advice.
- Inheritance Tax
Unless your estate is worth less than about £325,000 (including the value of your share of any jointly-owned property and any substantial gifts made in your lifetime) it may be liable to inheritance Tax, and you may wish to consider possible ways of saving tax.
Anyone who is dependent on you, financially or in any other way, may bring a claim against your estate after your death, unless your Will makes reasonable provision for him or her. This includes children not living with you and for whom you pay maintenance.
- Life interests
If you wish to give someone a life interest in your property, so that you can direct where it is to go when he or she dies, you must discuss this specifically with us. A person who has only a life interest in property may not be able to sell or dispose of it, or spend the capital if it is money.
- Foreign Property
If you own any property outside England and Wales, the local law may apply to it, and you may not be free to deal with it in your Will.
- Your Business
If you run a business, on your own or as a partner, or if you own shares in a company which you run as a business, then you may need further advice about the tax implications, and whether to give your partners or fellow-directors the right to buy your share of the business. If you are a sole trader, your Will may need to give your Executors the power to go on running the business.
Please accept this Declaration:
I/We confirm that the instructions we have given represent our intentions in relation to my/our Will(s).
I/We hereby instruct Jackson Longe Solicitors to prepare our wills on the basis of these instructions.