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Services in the Cambridge area

Wills and Estate Planning in Cambridge

Our Wills are worded using tried and tested legal precedents are ideal for all circumstances including if you are Single, Widowed, Divorced, Married, Separated or Cohabiting. All Wills include Revocation, Appointment of Executors, Guardianship if required, Distribution of your Estate, Any Gifts etc. and Funeral Wishes if required and anything else you wish providing it is possible.

However complicated: We will provide you with a fast highly professional straight forward service by Telephone, Home Visit or by e mail,  at a fixed fee price


So what are some of the consequences of dying without a Will?

Fact: If you have not made a Will even your life insurance policies may not be paid until probate has been granted unless they are written into trust! (Probate will take many months, sometimes two or three years to be granted!) that could lead to mortgage arrears or even repossession! 

Fact: If your Children are orphaned and you have not appointed a guardian in a Will then Social Services or judge can decide who looks after them including allocating them to Foster Parents! 


Fact: If you do not make a Will after your spouse or family have had to employ a solicitor to sort out the mess of dying without a Will! They would be lucky to get change out of £5,000 and in all probability the solicitor's bill may make a mess out of £10,000 for the average property owning family.


Excuses: Most people work hard to provide a home for their family so why do those same people put off the task of writing a Will and risk their families security? You pay thousands of pounds every year in mortgage or rent year after year but refuse to pay a few hundred pounds for something that probably only has to be dealt with once or twice in a lifetime for most people! Here are the most common excuses that I regularly listen to!


1. "Writing a Will is tempting fate": One in three adults in Britain have already written a Will - so if writing one has fatal results the population would soon be reduced by 18 million people! In fact, the British annual death rate is surprisingly stable.

2. "I just haven't got round to it": This is normally because the job doesn't rate high enough on a list of priorities. If the roof leaks, no matter how tight your finances, you get it fixed fast!.
3. "My wife / husband / Children will get everything when I die anyway! wont they"? Not necessarily!

By making a Will: you determine precisely who will inherit your property and assets. Equally important, you can determine who your executors will be to administer your estate and who will act as guardian for any minor children you have, if they are left without a surviving parent.

Without a valid Will: you cannot control who will inherit your property after your death and, your property will be distributed according to law which is likely to be inconsistent with your personal wishes.
You can: also use your Will to express your preferences for burial or cremation and for donating organs or your entire body for medical purposes, in addition, making a specialist Will gives you the opportunity of protecting your home against possible future care home costs this is particularly important if you wish to protect your beneficiaries inheritance.
When you die: leaving a valid Will that appoints executors who are still living at the time of your death legal ownership of all your property passes automatically to those executors and in order to prove that they have the right to deal with your property and they must apply for a legal document confirming their right to do so from the probate registry this process is called obtaining probate. 

Cambridge Will Writing Services|Cambridge Wills|

Our Wills and Estate Planning team in Cambridge are a group of specialists who can help you plan today for tomorrow's circumstances. There are many provisions you can make now with a little time and effort to ensure your family is financially stable, even if you're not around.

With the minimum amount of fuss, we can help you make sure your hard-earned assets go to the people you want it to; With some early planning, we can keep inheritance tax liabilities to a minimum

If you feel that your circumstances are very straightforward and you live in Cambridge, you may want to

consider using our Postal or Online option .

Simply request an Application Form and Terms of Business via email to info@abbeybroadwaywills.co.uk

Complete the application form and return by post with your discounted payment.

 

 

Appointment Online Postal

 

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Inheritance Tax Planning in Cambridge

 

Inheritance Tax principally is tax paid as a result of your death on all your estate: house, savings, car, antiques, household items, life policies, cash lump sums, inheritance from parents etc. The first £325,000 is tax-free. Everything over £325,000 is taxed at a rate of 40%.

So, on a total estate of say £400,000, there would be a tax bill to be paid of over £30,000 . This is money that you will not be able to leave to anyone except the taxman! What could your children do with this?.

The very bottom line is whether you would rather give your hard earned money to the taxman or to your children/grandchildren.Let your local estate planner in Cambridge help you mitigate against Inheritance tax if at all possible.

Trusts in Cambridge


What is a Trust?

A Trust is a legal arrangement (also known as a "Settlement") that enables you to give away assets but restrict or direct how and when they are used. Trusts can be used to make gifts in your lifetime and they can also be set up under the terms of a Will.

 
Who are the three main participants?

•The settlor:
this is the person who created the trust and normally gives away the assets that are placed in the trust
•The beneficiary:
this is the person who is to receive the assets or benefit from them. A beneficiary can also be a trustee and/or the settlor.
•The trustee:
this is the person(s) who looks after the assets ensuring they are invested/used in accordance with the rules of the trust and general trust laws.

Making a Lasting Power Of Attorney in Cambridge

 

 

There are two types of Power of Attorney; General and Lasting.

General Power of Attorney:

This is where someone is given legal authority to act on your behalf in financial matters in your best interests e.g. when you are out of the country. It becomes invalid when you lose mental capacity to manage your own affairs. It also stops on your death.

Lasting Power of Attorney (LPA):

This is a Power of Attorney which continues after you might become mentally or physically incapable of handling your own affairs. It protects people who may not be able to make some decisions for themselves e.g. those with dementia, learning difficulties, mental health problems, stroke, head injuries, accident or illness.

As part of our will writing service in Cambridge our estate planners can create your power of attorney either to look after your personal financial or welfare affairs.

 

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Compare Prepaid Funeral Plans in Cambridge

Compare Prepaid Funeral Plans in Cambridge

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Will Storage in Cambridge

 

Our will storage facilities in Cambridgegives you “peace of mind” knowing their most important Legal Documents are safe. A Lost Will is the same as dying Intestate. Why take the risk of their Documents being lost or destroyed? Imagine trying to prove the contents of a lost Will especially when any copies could be easily disputed.

It is advisable for clients inCambridge, particularly in cases where there is Trust Work to be carried out on first death, that they store their Legal Documents with us. We can then advise the surviving spouse as to the best way forward and arrange to have put in place whatever Trusts are required.

 

Wills and Probate in Cambridge

 Wills and Probate in Cambridge

Estate administration can be an extremely daunting task for someone who has recently lost a loved one.

Dealing with the Courts, the Banks and the Inland Revenue is time consuming and emotionally draining.

Our Probate / Executry company,  can take care of everything on your behalf. From ingathering the Estate to finalising tax matters, we have the experience required. To assist you with Probate and Executry services inCambridge.

Making a Will in Cambridge

Our Quick Wills postal and online options in Cambridge offers an easy, affordable and time efficient solution to putting your affairs in order and comes  with full telephone support from our Wills specialists.

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