Best Business Law Practitioners in Chorley

Making a will ensures your estate (belongings, possessions, money and property) gets passed to who you want it to go to. If you die without a will your estate will be distributed as per the Laws of Intestacy and may even go to the government.

Yes. All wills can be challenged, but not all challenges are valid or successful. If your Will is written clearly and gives valid reasons for making those decisions, it is less likely that a challenge will be successful. If you are splitting your assets equally amongst your family, it is very rare that it will be contested. If there is a suggestion that you have been coerced or you do not have mental capacity when writing your Will then there is a higher likelihood it could be successfully challenged. You can reduce the risk of your Will being challenged by getting your Will written by a professional Will Writer.

When using a will writing service, your professional will writer can give advice on the best way to draft your Will to ensure it truly reflects your wishes. Your will writer will provide you with advice on Inheritance tax and other areas you may not have considered according to your situation. When you write your Will with Sovereign Planning, you get a draft document to check, and your fully completed Will is sent out to you in the post. We remove the hassle and stress of trying to draft the document yourself.

You can pick a friend or family member as your executor. It should be someone you can trust and who is willing to take on the responsibility of the role. You can pick up to four people to share the role, but they all need to be in agreement. You can also select a professional executor if you wish.

A Discretionary Trust is slightly different to a Will Trust as it gives the trustee control of when and where to distribute the trust as outlined by the trust document when it was originally drawn up. For example you have a business and you have 3 children. You want the child who has the interest in the business to inherit it but at this point it is unclear as the children are too young. When you pass away the trustee will hold the money in trust until comes the time it is clear which child the business will be passed to and then this will be done as per your wishes.