-
All your personal chattels and the first £125,000 of your estate goes to your surviving spouse.
-
The remainder of your estate is then divided into two equal shares.
-
A, Your spouse is given a life interest in one share and on the death of your spouse the capital will pass to your children equally.
-
B, The other share is given to your children at eighteen.
Beware;
-
You have not appointed legal guardians for your minor children.
-
Your property is not protected against remarriage, Nursing
Home Fees or Inheritance Tax.
-
When your spouse dies FORTY per cent Tax on everything over
£285,000 may have to be paid.
-
Friends, Charities and pets cannot benefit.
-
Funeral wishes may never be known.
-
Your children may inherit capital at eighteen when you may prefer an older
vesting age, perhaps twenty-one or twenty-five?
The above information is not exhaustive and should be used as a guide only. We strongly recommend you seek guidance.
Telephone us
on the above number to discuss individual circumstances.