Wills
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Trustindex verifies that the original source of the review is Google. I recently engaged the expertise of Bispham Legal Services & Estate Planning for a Lasting Power of Attorney. This is a complex process which without the help of Bispham Legal & Estate Planning Services i would have struggled with no doubt navigateing my way through. Roger came out to my home and explained in detail in terms i understood the importance of an LPA . I know have peace of mind my affairs are in order. I would recommend Bispham Services to anyone who needs advice on getting an LPA or any other service of Estate Planning.Posted onTrustindex verifies that the original source of the review is Google. Working with Roger has been exceptional. The drafting of my Will has been something I had put off for years. Roger made the process easy and trouble free. He personally drafted my Will and both a Will and Lasting power of attorney for my mother.Posted onTrustindex verifies that the original source of the review is Google. You’ll be hard-pressed to find a gentleman as kind and insightful as Roger! His guidance was invaluable—clear, helpful, and with a smile! If you’re trying to navigate the often confusing world of legal and estate planning, I couldn’t recommend him more highly.Posted onTrustindex verifies that the original source of the review is Google. I’d like to thank Roger Bispham of Bispham Legal Services (Wills & Estate Planner) for opening my eyes when I thought I was already fully covered with my will and power of attorney. Roger highlighted something I wasn’t aware of: that there are actually two types of Lasting Power of Attorney: one for Health & Welfare and another for Property & Finance. Thanks to his clear advice and guidance, I now have all my paperwork properly sorted and the peace of mind that everything is in place. I highly recommend Roger for his knowledge, professionalism, and the way he makes sure you truly understand what’s needed to protect yourself and your loved ones.Posted onTrustindex verifies that the original source of the review is Google. I came across Bispham Legal Services online, and I can say that my experience with the organisation was great from the enquiry stage until when my final contract wa produced. Roger took explained all available options to me with ease and I was able to choose the option that suits my needs. So, I'll recommend their company to anyone in need of any of their services. Thanks Roger. Olusegun OladejoPosted onTrustindex verifies that the original source of the review is Google. Roger was very helpful. I explained the urgency of the matter and he did not hesitate. He is very respectful and very professional. Thank you Roger. I will certainly recommend you, if I ever get asked by anyone needing Estate Planning or Legal Services.Posted onTrustindex verifies that the original source of the review is Google. Bispham Legal Services. Very helpful and friendly service. Gave me lots of advice and different ways to make my Will complete and detailed but not complicated. Making my Will with BISPHAM LEGAL SERVICES was a positive experience.Posted onTrustindex verifies that the original source of the review is Google. Roger was extremely helpful, patient and thorough when advising us on drawing up our wills. He is a pleasure to work with and a genuinely nice guy. I would highly recommend his services.Posted onTrustindex verifies that the original source of the review is Google. Roger was so knowledgeable and professional I cant recommend his service enough. I had numerous queries and amendments and he was really patient through the whole thing. I am glad he was recommended to me and will definitely be using Bispham Legal Services again.
Your Wills are very important you and your family, and our professional advice will ensure that your Will complies with all the legal requirements to give you peace of mind and that your wishes will be respected.
Our service ensures that your instructions are clear and will be followed after your death and that you have taken advantage of any tax reliefs available to you.
Why do you need a Will?
- If your child is under 16, is orphaned, he or she needs to have a legal Guardian. If your child is under the age of 16 he or she must live with the Guardian(s). If your child is over 16 the Guardian(s) is (are) responsible for the child (for example, if he or she has dealings with the police, the police will have to contact the Guardian(s)).
- Without a Will the law decides who inherits. With a Will you decide. With no Will it will usually take longer and cost more to wind up your estate (up to 58% more). (just a minor tidy up here)
- If you do not have a Will, you have no say over what happens to your assets when you die and this can cause difficulties for those you care about most.
- It is a common belief that, if you are married or in a civil partnership, your spouse or civil partner will automatically inherit everything you own when you die. In fact, the law sets out rules that determine how your assets are to be divided if you should die without leaving a Will.
- No one wants to leave their partner with a complex legal issue, but if you are an unmarried couple there is no “common law” equivalent to a legal marriage, Writing a will removes doubt surrounding your wishes, and lets you leave suitable provision for your partner, giving them security during what will be a very difficult time.
- Will Trusts can be used to protect your families assets. See Property Protection Trust Wills (“PPT Wills”).
Our Specialist Consultant will come to you at a time convenient for you and your family
- Warm and friendly accredited consultants
- Expert advice tailored to your situation
- We ensure that your estate finishes up where you want it
- Hassle free process
- Quick turnaround if required
- Affordable fixed price
- 5-Star Google Review Rating
Our customers have told us that once they had made their Will, they felt a huge sense of relief. They realised that, in doing so, they have legally recorded how they wanted their assets divided after their death, thus providing their family with the security they deserve.
Our trained Consultants can assess your current circumstances and recommend the BEST products that will provide the correct protection for YOU, YOUR FAMILY and YOUR assets.
contact us for more information.
Will Trusts
The terms of a trust may be specific and give the Trustees only restricted powers or they may give the Trustees power to decide who from the list of Beneficiaries gets what Trust Asset and when (these latter types of Trusts are called “Discretionary Trusts”). The Beneficiaries may be one person or many people and some Beneficiaries may be given precedence over others. The Settlor sets the terms when the Trust is set up
The use of Trusts in Wills is an important part of Estate planning. The Testator (the person making the Will) is in effect the Settlor but the Trust Assets are only set aside on their death.
The main types of trusts which can be created by a Will are:
General Discretionary Will Trust
Here the Beneficiaries can be a wide range of people but the Testator wants the Trustees to decide who should benefit and when. There may be certain criteria with which a potential Beneficiary must comply before the Trustees can award him/her any benefit (e.g. coming off drugs).
There are no Inheritance Tax advantages to General Discretionary Will Trusts and a General Discretionary Trust set up on death is treated like any other bequest and may be subject to Inheritance Tax at 40%.
It is usual with General Discretionary Will Trusts for the Testator to write a Memorandum of Wishes to his Trustees outlining how they would like them to act. The Memorandum of wishes is not legally binding but serves as a guide as to how they should act.
General Discretionary Will Trusts and Memoranda of Wishes are used in Sharia Law compliant Wills.
Life Insurance Trust Wills
A Testator may want someone or a class of people to benefit from some or all of the Trust Assets whilst they are alive (the “Life Tenant”) but not to eventually be able to pass on these assets in their Will – typically on a second marriage the Testator may want their 2nd spouse to have the benefits of their investments but for these investments to eventually pass to the children from their first marriage (and that the 2nd spouse cannot pass them on to any children from any previous relationship).
Variations to these types of Trusts are to limit the period during which the Life Tenant can benefit from the Trust Assets or to allow the Trustees to give some of the Trust Assets to other Beneficiaries, and, in doing so, potentially reduce the income to the Life Tenant (these later Trusts are called “Defeasible or Revocable Life Interests”).
Defeasible Life Interest Trust Wills are sometimes used in Sharia Law compliant Wills to reduce IHT.
Defeasible Life Interest Trust Wills are useful in planning for long-term care.
Discretionary Trust
It may be that when someone makes their Will they are not sure what their circumstances will be when they die and do not know whether long-term care or Inheritance Tax will be their priority (or even if a chosen Beneficiary will be disabled). The DT covers this situation. One of the Trustees will be the spouse or partner of the Testator. The terms of the Trust give the Trustees 2 years to decide who, from the listed Beneficiaries, should benefit from the deceased’s Estate. This can include setting up further trusts.