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Introduction to Wills

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It is not the purpose of this brief introduction to explain how to draw up a legal and valid will. As a will forms such an essential part of the financial planning process, however, some guidance on the essential elements may be useful prior to contacting someone with suitable experience in will drafting - please, do get professional advice before making or re-drafting your will.

Certain formalities are required in the making of a will to help ensure that the potential for fraud and forgery is limited, and that the testator makes a will without duress. None of the requirements are onerous, but the volume of cases which have come before the courts over the years have made it clear that where money is concerned, even where the existence of 'rules' do not guarantee a thing, it is better to follow the 'red tape'. 

The main requirements in summary
Intestacy
Wills after Death
Will Variations
Disclaimers
Tax Considerations on Variations
Discretionary Wills
Precatory Trust
Secret Trusts
Mutual Wills

REMEMBER You should not use any information contained on this page as the basis of any action until you have discussed matters with your financial adviser.


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