Wills, Probate & Trust Solicitors In London

Do you want the very best wills and probate solicitor in London? On this site, you can find company information relating to each of the solicitors located in the area that can help you write a will, amend a will or take care of probate. You can also view solicitors in London that can assist with the creation or management of various types of trusts.

Having a legally valid will that represents your preferences and provides financial stability for your family is usually an aspiration for most of us. Although you will find DIY options available for writing a will, hiring a good London solicitor will ensure your will is valid and properly fits your wishes.

What is a will?

A will is a legal document that is used for individuals to plan their preferences regarding how their children should be taken care of and how their assets should be shared upon his or her death. Wills should be set out in writing and signed by you and witnesses in order to ensure that they are legally binding. When a person dies without having made a will, their assets are divided as per the law and not necessarily in accordance with their wishes.

What are the different types of will?

There are a number of different types of wills that can be used for different needs. Some popular types of wills are as follows:

• A single will is sometimes known as a testamentary will and is the most traditional type of will. The single will is formally created and signed in front of witnesses.
• Mirror wills are an option available to couples who want to create near identical wills which allow them to leave assets to the same beneficiaries, normally each other in the first instance.
• Living wills do not relate to asset distribution but instead, are used to lay out a person’s preferences for his or her future receipt of certain medical care if they lack the mental capacity to communicate this at some point in the future.

What does Probate mean?

Probate is the term which can be used to describe the legal and financial processes required to manage the estate of a deceased individual in England or Wales. Probate involves a variety of required tasks including the identification of a deceased person’s property, payment of taxes, administration of the accounts of the estate and distribution of net assets.

Trusts

A trust is used to control a person’s assets which includes their property, investments and money. There are a wide variety of different types of trusts which have different tax considerations. Every trust demands the following roles to be fulfilled:

• A settlor’ who is the individual that puts their assets into a trust
• A ‘trustee’ who is responsible for the management of the trust
• A ‘beneficiary’ who is given the benefit of the trust

Trusts are utilised for a number of reasons including to protect a family’s assets, manage the assets of a child or incapacitated person or to distribute assets during the settlor’s life or when they die. A London solicitor will help their clients to recognise the need for a trust and to create the trust in a legal way, reflective of the settlor’s wishes.