Can you draft this Will in under 5 minutes?
01/12/2021 – 12:00-13:00
As promised, you’ll see the details for two cases below. A simple one and a more complex one. We’ll be using these cases during the webinar to show how you could draft a Will for each case, in under 5 minutes.
Case 1: Mary & Matt Hicks need similar, but simple Wills.
Mary 01/09/1953 is married to Matt 19/08/1950. 15 Blackhouse Lane, Burgess Hill, West Sussex, RH15 6TQ. (01444) 432432
They have both worked hard and have built up an estate of £1m.
Mary would like to appoint Matt and her son, John, as her executors
Mary would like to leave her jewellery, that’s been in the family for years, to her two daughters Kelly and Kate by rotation, with Kate, the eldest, choosing first.
The first level of residue should go to her husband, Matt. Her second level of residue should be split, 90% to her children and 10% to the charity, Cats Protection. She would like the split of residue to be after the calculation of IHT.
Matt would like to appoint Mary and their son, John, as executor and then simply leave everything to his wife, Mary. Then split the residue in the same way as Mary, 90% to his children and 10% to the charity, Cats Protection.
Case 2: Graham Greene needs a complex Will
- Graham Greene DOB 04/09/1970 is in an unmarried relationship with Vanessa Wilson DOB 10/10.1965. 181 The Crescent, Bath, ST1 5PG. (07961) 123456. Graham’s estate is above the IHT threshold.
- Graham wants to appoint Vanessa as his executor. He wishes to appoint your firm as the substitute.
- He wishes to be buried and the funeral to be conducted in a simple manner.
- He wishes to make a cash gift of £10,000 to his niece Emily Winter.
- He would like to leave his gold Rolex to his brother, Matthew Greene per stirpes.
- He wishes to split the estate into two to protect his residence nil rate band.
- 1st part to go directly to his children (as a group).
- 2nd part to go to a FLIT with Vanessa as the life tenant and his children as the default beneficiaries (per stirpes).