Wills

Making a will is one of the most important things we can do - after all it determines how our most personal possessions and hard-earned savings will be shared among close family and friends.

It is often a simple and inexpensive process. But failure to make a will can pose major difficulties for those left behind, for instance, where there may be inheritance tax implications.

Your estate - money, other assets and possessions - could be distributed according to the law rather than your wishes. It is particularly important to leave instructions if you own property.

What you need to think about

It is advisable to consult a solicitor before deciding what to put in your will. A will can cover a range of issues, including:

• Who should inherit your property, money, other assets and possessions;
• How your children should be cared for;
• Who should be responsible for looking after your estate (the executors);
• Special arrangements for your funeral; and
• Any charitable donations you would like to make.

How we can help

Wills are often straightforward, but some involve catering for more complicated arrangements and financial affairs, such as blended families (where beneficiaries may have competing interests which need to be protected), vulnerable beneficiaries, exposure of beneficiaries to inheritance tax or nursing care, and the efficient use of inheritance tax allowances and reliefs - all the more reason to ensure they are drawn up by a qualified solicitor. In many cases, it can be appropriate for a trust to be established in a will, whether for flexibility or to give protection to beneficiaries.

Our Private Client solicitors can help you see the wider picture and highlight matters you may not have considered, and where appropriate, can work closely with other professional advisors, such as your accountant or financial advisor, to ensure the best financial outcome for your beneficiaries.

Living wills

A living will (also known as an advance directive) provides that where you are unable to communicate or take part in deciding on your medical treatment as a result of serious physical illness or mental incapacity, you wish that your life should not be sustained by artificial means and medical treatment should be limited to keeping you comfortable and free from pain.

Such a directive can form part of your planning with Aberdein Considine Legal.

This service is available to clients in Scotland only