Will Writing
One of the first choices you’ll face is whether to opt for a Single Will or a Mirror Will.
At The Will Place, we understand that estate planning can be complex. Making informed decisions is crucial, and one of the first choices you’ll face is whether to opt for a Single Will or a Mirror Will. Let’s explore the differences to help you make the right choice for your unique circumstances.
Single Will
A Single Will is tailored for individuals who want to outline their personal wishes and distribute their assets according to their specific instructions.
Key Features:
- Personalised Instructions: A Single Will allows you to express your individual preferences and distribute your assets as you see fit.
- Independent Decision-Making: It enables you to make decisions without being influenced by a partner, ensuring your assets go precisely where you want them to.
- Individual Appointments: Opting for a Single Will means you’ll have a one-on-one appointment with our experienced will writers to discuss your unique requirements.
Mirror Will
Mirror Will: A Joint Approach for Couples
A Mirror Will is designed for couples who wish to create almost identical wills, often leaving their assets to each other and then to their chosen beneficiaries.
Key Features:
- Jointly Aligned Instructions: Mirror Wills are closely aligned, reflecting the wishes of one partner and mirroring them in the other’s will.
- Shared Asset Distribution: Typically, Mirror Wills involve leaving assets to each other first, and then to shared beneficiaries after the passing of both partners.
- Convenient Joint Appointments: Couples can book a joint appointment at The Will Place to discuss their wishes and create Mirror Wills simultaneously.
Will Trusts
A Will Trust: for those with a situation that is a little different to others
A will trust builds in a trust of some sort within your will, this can be done as a single or mirror will but would be used under certain situations:
- You have children from a previous relationship
- You have a child or person who needs extra support be it financially or to help navigate life
- You have concerns about needing to go into care in the future and want to protect your assets from that
- You have concerns about potential inheritance tax costs for your beneficiaries.
Will Writing
Making informed decisions is crucial, and one of the first choices you’ll face is whether to opt for a Single Will or a Mirror Will.
Will Trusts
A will trust builds in a trust of some sort within your will, this can be done as a single or mirror will but would be used under certain situations.
Lasting Power of Attorney
There are two types of lasting power of attorney this process if for England and Wales.
Will Guides
Will Jargon – Glossary of Terms
Will jargon can be overwhelming and confusing! In this will guide we aim to explain all the various terms and clearly explain some will terminology.
What to consider when making a Will
Creating a will in the UK is an important legal step to ensure that your assets are distributed according to your wishes after your death. Here are some key considerations when having your will written in the UK:
Contact Us
Jason Works, Clarence Street, Loughborough, LE11 1DX
hello@thewillplace.co.uk
01509 380 092
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The Will Place Limited. Registered Office: Jason Works, Clarence Street, Loughborough, Leicestershire, LE11 1DX. Registered in England & Wales number: 15099912.
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