Will with a trust
Your Will is the legal document you make to ensure that your wishes in relation to your property, including your body, are carried out after your death; see Wills for our basic will product and a description of its circumstances.
A trust is a useful mechanism in English and Welsh law (not all legal systems allow the concept) by which that ‘trustees’ hold something (e.g. land or money – or anything else!) for the benefit of someone else, called the “Beneficiaries” of the trust. There is more detail of the basic concept in Declaration of Trust.
Combining these two concepts, such that some of your property is placed into a trust or trusts on your death, allows greater flexibility and control than might be possible for our simple will product. For example, it might be possible for some of your property to be held for someone else’s use during that person’s lifetime, and then, after that person dies, for that property to go to some other destination, e.g. a younger generation. As well as being more flexible than making simple absolute gifts from your estate, this kind of arrangement can be highly tax effective.
How long will it take?
We don’t generally do anything for new clients until our process of client retention has concluded – this involves agreeing the scope of what we are doing for the price (our terms are below), setting-up our client record, and producing the bill (payment in advance is required for all new clients).
After that, the production of the will is a job that we can undertake in a few hours once we can schedule it in our workflow, that can depend on how busy we are at any particular time. We would not usually take-on a job for which we could not engage within about a working week.
Your supplier is SRA-regulated Mounteney Solicitors, that charges VAT some customers may be able to reclaim
We charge £300 + VAT = £360 [Single will]
We charge £500 + VAT = £600 [Mirror wills]
Prices will vary if, in addition to the one trust included in these prices, multiple trusts or additional work is needed, e.g. for severance of a joint tenancy to establish a life interest trust.”
There is more about our fees on our website here
If you have any questions or require any further information, please don’t hesitate to Contact Us.