Types of wills
Single wills – A single will is written for an individual, it is suitable for someone who is not married or in a civil partnership.
Mirror wills – A mirror will is part of a set of 2 wills that reflect each other. This is used by 2 people who have the same or similar wishes. Mirror wills are suitable for couples that have similar wishes, you do not have to be married or in a civil partnership.
Trust wills – A trust will is a will that includes provision or the setting up of a trust. Trusts can be beneficial if you do not want your estate to go directly to your beneficiaries but instead to be held in a particular way for their benefit.They are most commonly used;
- To provide for a spouse, civil partner or partner and protect their interests whilst also providing for your children
- To protect your beneficiaries and your estate from possible future care home fees
- When there are beneficiaries that are under the age of 18, disabled or vulnerable.
If you want to make a small change to your will you can write a codicil. A codicil is an additional document that modifies your original will. You can use it to change, explain or revoke any part of your will. It is signed and witnessed in the same way a will is.
If a Bank, Solicitor or will writing company is already named in your Will as an Executor or joint Executor, instead of making a new Will, we can prepare a simple legal Codicil document to remove them.
You should not alter the original will this could risk it being made void.
You do not need to use the same person who wrote your original will and you do not need to use the same witnesses as you used in your original will. However you should not use someone as a witness if they or their husband/wife/civil partner are benefiting from the codicil, it will make the codicil invalid.
Once you have had a will written by Final Duties, you can update your will at any time at no extra cost.
There are several different types of trusts and many reasons why it might benefit you to use one.
A trust is created to protect assets on the behalf of a beneficiary and is managed by the trustee or trustees. The trustees will handle the assets according to the instructions set out in the trust deeds or in the will and are responsible for the everyday management of the assets, as well as ensuring that the best interests of the beneficiary/beneficiaries are looked out for.
Types of trusts we provide
Protective Property Trusts
This can help prevent your home being seized to pay for the cost of care home fees.