FAQs

Why Should I Make a Will?
It is the only way to be 100% sure that your assets go to the people you love.
I have just got married again. Is my previous Will still valid?
No. Your marriage revokes any previous Wills. A new Will is required to distribute your estate.
Can I appoint guardians for my children in my Will?
Yes. By making a Will you can ensure that the Courts are aware of who you wish to care for your children in the event of your death. You can also decide at what age you wish your children to receive their inheritance (whether this be 18, 21 or 25).
What constitutes a legally valid Will?
A legally valid Will has several essential components. It must be signed and dated by the Testator/Testatrix in the presence of two independent witnesses. The two witnesses must record their details on the attestation page of the Will. The wording of a Will is of paramount importance as incorrectly worded Wills may mean someone intended to benefit no longer does and someone not intended to benefit now has a claim.
What is the current Nil Rate Band threshold?
The current threshold for the year April 2007 to April 2008 is £300,000. Any assets over this amount will be taxed at 40%.
I have recently lost my partner. All their assets passed to me through their Will and I now have a substantial Inheritance Tax liability. What can I do?
Within two years of an individual's death it is possible to vary their Will (Deed of Variation). With the agreement of all the beneficiaries a Will can be varied to incorporate a Nil Rate Band Discretionary Trust. We have access to specialist solicitors for this service. For further information contact us.
I own assets outside of the UK. Should I make a Will in the appropriate Country?
It is advisable for you to make a Will in each Country in which you own assets. This will make the administration of your estate simpler for your Executors. We can make your UK Will specific to your UK assets avoiding any complications when your estate is distributed.
Can I state what kind of funeral I want in my Will?
Absolutely, if you have a specific wish then it can be included.
I am a Muslim. Can Collective Legal Solutions write me A Will in accordance with Shariah Law?
Yes we can. Simply contact us and we will put you in touch with your local Associate.
What if I need a Will urgently because of a serious illness?
If you contact us we will arrange for an Associate to visit you urgently.
What happens if one or more of my beneficiaries dies before I do?
This happens quite often. At your request we will word your Will in such a way to make allowances for such an occurrence.
I have a business. What if I want it to continue after my death?
This is not a problem. There are many businesses which are run by trusts, for example: The Guardian.
What is probate and who can help me with it?
Probate is a procedure that has to be followed after a person has died (if total assets exceed £5,000). A grant is required on death which gives a Personal Representative/Executor the right to administer the deceased estate.