Paradigm Wills and Legal Services

Will & Estate Planner, Solicitor

Staffordshire, Shropshire And Staffordshire

Testimonials (8)

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TestimonialI would like to give Jay Parmar and Paradigm Wills & Legal Services a moment. Recently I decided thatwith everything that has been happening in...

- July 2020

Protective Property Trust The Scenario: Mr and Mrs B are a happily married couple who own their own home and both been previously married and divorced. Mr B has two children from a previous marriage and Mrs B has one child from a previous marriage. They also have one child together whose name is Gary. They already have a Will but Mr B is concerned that it may not do what he wants it to do. Mr B's concern is that if he passes away first then everything would go to his wife Mrs B, the risk of just having made a basic will is that Mr B’s two children from his previous relationship may be disinherited. Now Mr B loves and trusts his wife but he is also aware that if he is no longer here, then circumstances can change to which he has no control over. Mrs B could re-make a new will and that could be because she doesn’t see much of Mr B two children or she could be pressured by her own children to leave out Mr B’s two children. Mrs B could meet a new partner once Mr B has passed away and if Mrs B passes away then the entire estate would be inherited by the new husband which can lead to it being passed to a new blood line in accordance to the Rules of Intestacy. This would then mean none of the children would inherit and would be classed as Sideways Inheritance as it would be her new partner’s family that would gain the benefits. (this is a very common situation in the UK) The Advice: The best advice would be for the clients to have a Mirror Will with a Protective Property Trust in place with Severance. What this means is the property ownership would be split into 'tenants in common' so both Mr and Mrs B own 50% share each of their property. In the Will we would create a Life interest for each other so rather than inheriting each other’s share, you would only give a full life interest to the surviving spouse. So, Mr B passed away and his 50% share of his property has gone into trust but giving Mrs B a life interest in his share to remain in the house. Mrs B can still

Expertise

Wills
Inheritance Tax Planning
Estate planning
lasting powers of attorney
family protection trusts
family protection

Summary

Will and Trust Planning, Paradigm Wills and Legal Services work on the ethos of understanding our clients, their family situation and understand the potential beneficiaries before we make any advice and recommendation. This enables us to give the very best advice and solution.
We are full members of the Institute of Professional Will Writers and adhere to their code of practice which in turn, is recognised by the Trading Standard Institute.
Paradigm Wills and Legal Services aim is to become the Wills Planning and Estate Planning Company of choice for all.

Top 5 reasons to review your Will ► Children, Marriage, Home Move, Divorce and Inheritance

Specialities ► Wills, Trusts, Lasting Power of Attorney, Funeral Plans, Probate, Policies, Provisions and Legal Services

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Paradigm Wills and Legal Services

Will & Estate Planner, Solicitor

Staffordshire, Shropshire And Staffordshire

Testimonials (8)

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