that you can get an Estate Planning Will for the same price as an Ordinary Will?
Yes it’s true you can get an Estate Planning Will for the same price as an Ordinary Will. So what’s an Estate Planning Will? It’s a service which provides a quality Will but looks further ahead. There are 3 parts to this.
Part 1 is the Will i.e. who is to get your estate when you die and who is to be the executor. When you go for a Will that is usually all that you get but with McClure we go further.
Part 2 is “What effect will the inheritance have on my beneficiary?” For example we had an 84 year old lady who left her money to her 2 daughters. The Will was straight forward. The problem was that the 2 daughters were on State Benefits so that when they inherit from their mother they will lose their state benefits. With an Estate Planning Will (which would normally include a Trust), the 2 daughters can get their inheritance but not lose their state benefits.
In another example the elderly man left everything to his daughter as she was his only child. Unfortunately that Will cost the estate £55,000 in inheritance tax because the daughter already had an Inheritance Tax liability and everything she inherited from her father became liable to her inheritance tax when she died.
Another example is an elderly couple who came to us for inheritance tax advice. The wife was almost certainly going to inherit £300,000 from her mother which would have made her IHT problem even worse.
In each of these cases a Lifetime Trust would have avoided the problem. And that’s only Part 2.
Part 3 is “Where will your estate go next?” For example if you leave some of your estate to a son then if he gets divorced a large part of your estate will go off with the daughter-in-law. Even if he doesn’t get divorced, if he dies next, it is highly likely that that part of your estate will finish up with your daughter-in-law. That may be what you want but it is our job when doing Estate Planning Wills to look further ahead than normal.
And all our Wills are Estate Planning Wills. All our Wills are free of charge. You just consider a donation for a charity of your choice. At McClure’s we arrange about 600 Wills per month and in 2017 we raised over £30 million for charities. We are presently partnered with over 150 charities who refer their clients to us.
So why pay for an ordinary Will when you can get a McClure Estate Planning Will free of charge for a donation for charity.
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