Shared or Joint assets most commonly refers to properties owned by two or more people. For example, a flat that was purchased by a couple or group of friends to use as their main residence. However, it may also include things like joint bank accounts, for example, if you have a shared account between you and your flatmates to pay the mortgage and/or bills.

Your residuary estate is the part of your estate that remains after all of your debts, expenses, and specific gifts have been paid. It is the part of your estate that is not specifically left to anyone in your will. Partial intestacy is a situation that occurs when someone dies with a will that does not dispose of all of their assets.

Remembering a charity when you pass away is becoming increasingly popular, with 1 in 5 UK adults now including a charitable gift in their will, up more than 40% in the past decade. By donating to charity, you can make a difference in the lives of others. You can also help to support causes that you care about, such as education, healthcare, or environmental protection.

Chattels are movable personal property, such as furniture, jewellery, and vehicles. In England and Wales, chattels are considered part of your estate and are distributed according to the terms of your will. When considering chattels in your will, you should be as specific as possible about what you want to happen to them.

Appointing guardians for your children is important because it ensures that your children will be cared for by people you trust if you pass away before your children reach adulthood. The guardians you appoint will be responsible for making decisions about your children's upbringing, education, and welfare.

A trust is a legal arrangement where one person (the settlor) transfers assets to another person(s) (the trustee) to hold on behalf of a third person (the beneficiary). The trustee(s) are responsible for managing the assets and distributing them to the beneficiary in accordance with the settlor's wishes.

Inheritance tax (IHT) is a tax on the value of assets that are passed on to another person when someone passes away. In England and Wales, the current IHT rate is 40% on the value of an estate that exceeds £325,000. The rules for IHT are quite complex and there are a number of different allowances which can help to reduce the IHT liability.

Whenever you write a will, it reflects your wishes at the time of writing. Therefore, it’s normal to think about your beneficiaries and your estate as it stands today, rather than at the time of your passing, which is usually an unknown date far into the future. This begs the question, how can I make sure that my will can accommodate unforeseen changes in circumstances?

Probate is the legal process of proving that a will is valid and of distributing the deceased person's assets according to the will. In England and Wales, probate is handled by the Probate Registry, part of the government's HM Courts and Tribunals Service. The first step in the probate process is to apply for a grant of probate. This is a legal document that gives the executors of the will the authority to administer the estate.

A witness to a will is a person who is present when the will is signed and who signs the will to attest to the fact that they saw the testator (the person making the will) sign it. In England and Wales, a will must be witnessed by two people who are not beneficiaries under the will nor are closely related to a beneficiary.

An executor is a person named in a will to carry out the instructions of the testator (the person who made the will). The executor's duties include gathering the testator's assets, paying the testator's debts, distributing the testator's assets to the beneficiaries named in the will, and filing the necessary paperwork with the probate court.

Writing a will can be a relatively simple task if you have very straightforward affairs. You could write it out yourself by copying boilerplate legal text into a Word document, and making sure to update the key parts. Of course, we don’t recommend writing a will yourself, especially if you’ve not thoroughly researched the topic.

A will is a legal document that tells people what you want to happen to your money, property, and possessions after you pass away. It is important to have a will in place, as it can help to avoid disputes and ensure that your wishes are carried out correctly. We recommend following a three-step approach to creating your will.

Intestacy is the legal term for when someone dies without leaving a valid will. When a person dies without leaving a valid will, their property (the estate) must be shared out according to certain rules. These are called the rules of intestacy, which are set out in the The Family Provision (Intestate Succession) Order 1981.

Writing a will, or even researching how to write a will, can unearth a minefield of confusing legal terminology. However, it is necessary that your will is written in the correct terminology to ensure that it is legally binding and can stand-up to scrutiny in the event that your will is challenged.

A will is a legal document that tells people what you want to happen to your money, property, and possessions after you pass away. There are several different types of wills to choose from in England and Wales, depending on your individual circumstances.

A living will, also known as an advance decision, is a legal document that allows you to express your wishes about medical treatment in the future if you are unable to make decisions for yourself. It can be used to refuse or accept specific medical treatments, or to appoint a healthcare proxy to make decisions on your behalf if you are unable to do so yourself.