Leeds Wills, Probate & Trust Solicitors

Do you want a trusts, wills and probate solicitor in Leeds? At LocalSolicitors.com, you will find profiles about all solicitors based in the area that can help you write or amend a will or assist with probate related issues. You can also view solicitors in Leeds that can assist with the creation or management of different types of trusts.

Having a valid will which matches your requirements and provides financial stability for your family is undoubtedly an aspiration for most people. Although DIY options can be found for writing a will, hiring a reputable Leeds solicitor will make sure your will is legally valid and completely fulfils your needs.

What is the purpose of a will?

A will is a legal document used by individuals to state their wishes concerning the distribution and management of their estate and the care of their children in the event of their death. To ensure that a will is legally binding, it should be written and signed by you and your witnesses. 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.

Types of will

Dependent upon a person’s needs, there are a number of different wills that can be used. Common types of wills include:

• 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 the presence of witnesses.
• Partners may choose to draw up a mirror will that is just about the same as their partners and enables them to leave assets to the same beneficiary as each other.
• A living will enables people to set out their wishes for turning down particular medical treatments in the future in case they lack the capacity to communicate at a later date.

What is Probate?

The word probate is used to describe the legal and financial processes that need to be followed to deal with the estate of a individual who has died in England or Wales. The processes involved in probate will include the identification of the deceased’s property, the payment of necessary taxes, the administration of the estate’s accounts and the distribution of assets.

What are trusts?

A trust can be used to control assets for people, which includes money, investments and property. There are different kinds of trusts and different tax considerations apply to each. Each trust requires the following roles to be performed:

• A settlor’ who is the person that puts their assets into a trust
• A ‘trustee’ which is the person who is in charge of the management of the trust
• A ‘beneficiary’ who is the individual who benefits from the trust

Trusts can be used for a variety of purposes including to distribute assets during the life of the settlor or following their death, to manage assets on behalf of a child or incapacitated person or to protect the assets of a family. A solicitor in Leeds will help their clients to recognise the need for a trust and to create one in a legal way, reflective of the settlor’s wishes.