Private Client

Wills, Codicils & "Living Wills"

Perhaps the two main reasons for making a Will are:

Ensuring your assets go to those you want to benefit

If you have children who are under 18, making arrangements (through the appointment of Guardians and Trustees) for them in case something happens to you before they come of age

A Will can have a major impact on the lives of those who survive you and time and thought needs to be given to the provisions of the Will. We can help and advise you.

Of course Inheritance Tax (death duties) cannot be ignored and we can also advise you on how the potential tax can be reduced for example in the case of a husband and wife by including "nil-rate band" discretionary trusts in the Wills.

The first step will usually be to arrange to meet one of the members of the Department. It would be very helpful if in advance you could:

prepare a list of your main assets showing approximate values and what you own by yourself and what you own jointly

think about to whom you wish to leave your assets

think about who you would want to be your Executors (the ones who sort out your affairs after your death and transfer assets to the beneficiaries) and

if you have young children also think about who you would want to look after them

"Living Wills" (or "Advance Directives")

A Living Will enables you to record (or give directions) in advance about your wishes as to the medical treatment you would wish to have or not have if a time arises when you are no longer able to make those decisions. Living Wills or Advance Directives are perhaps more morally binding than legally binding but their legal effect is increasing and likely to continue to do so, particularly as the Mental Capacity Act 2005 gives statutory recognition to Advance Directives or Living Wills.

For more information contact
Alistair Sursham, Kathryn Ayrdon,
David Lonsdale, Michelle Collins or Barbara Pond

Cozens-Hardy LLP is a limited liability partnership