Wills

Our specialist team has decades of first-hand experience in creating bespoke wills that are carefully constructed to support vulnerable beneficiaries who may not be best placed to manage an inheritance themselves.

Sometimes a trust has been created during an individual’s lifetime by a trust deed. This is often the case when an individual needs to use a trust for their intended beneficiary for reasons such as inheritance tax planning or, for example, putting a property into trust for the beneficiary to live in. In such cases, the individual might want to leave additional funds to that trust upon their death, via their will. In other situations, there is no such lifetime trust and the trust provisions have to be written into the terms of the will.

The terms of the trust can have a significant impact on both inheritance tax in the individual’s estate and the ongoing tax within the trust itself. The right type of trust can, in many circumstances, utilise the main residence nil rate band for inheritance tax purposes.

In some circumstances, the best option is one of flexibility. By leaving a general discretionary trust of residue in the will, after taking into account the circumstances as they are at the time, trustees can exercise their powers to create optimal outcomes from both a tax perspective and that of an individual beneficiary’s needs.

In Practice

  • The timing of specific gifts was a particular cause for concern

    N had made several gifts to all three of his children over the years. The gifts, many of which were significant, were made at different times and were often of different amounts. N had become concerned about the possibility of unfairness because of the division provisions in his will.

    Our solicitors analysed the gifting history and went through the potential outcomes. The timing of specific gifts was a particular cause for concern – should N die within seven years, his children would not be treated equally. Because of the way that the inherence tax nil rate band is allocated, one child would benefit from a tax-free gift at the expense of another. Our solicitors structured his will in such a way that all possible outcomes were factored in, thus achieving fairness for all.

Our experts are on hand

Catherine Murton
Catherine Murton
Director | Solicitor
With extensive experience in all aspects of private client work, Catherine heads up Arcadia's legal team. Continuously recommended by existing clients, she is a trusted advisor to a significant number of families across the country.
Susie Rycroft
Susie Rycroft
Director | Solicitor
Susie qualified as a solicitor in 2005 and has specialised in private client ever since. Susie's expert knowledge of trust law and her pragmatic, client-centered approach is welcomed by trustees, executors and beneficiaries alike.
Alyssa Martin
Alyssa deals with the drafting of wills, trust documents and powers of attorney. A recent graduate with a Masters in Law, her technical knowledge lends itself perfectly to the varied needs of Arcadia's legal team.
Zara Rapley
Zara supports Arcadia's legal team by managing administrative tasks and assists with the progression of legal cases. Her attentive attitude is welcomed by clients and colleagues alike.
Layla Ambersley-Broadbent
Layla Ambersley-Broadbent
Legal Assistant
Focused and organised, Layla's approach to the management of administrative tasks and progression of legal cases makes her a valued legal assistant to the group.
Hannah Cook
Hannah Cook
Associate | Solicitor
Specialising in probate, wills, court of protection and powers of attorney, Hannah's clients always welcome her hands-on and head-down approach to getting the job over the line.