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Type A – Will for Parents with adult children. If your children are all adults we generally draft your Will
to gift all the assets to the surviving spouse on the first death and appoint the surviving spouse as
Executor. If there is no surviving spouse the Will gifts all your assets to your adult children in
equal shares. We simply appoint your children to act as your Executors on the second death.
Type B – Will for Parents with minor children. This is where your children are under 18 years of age
and therefore are too young to manage any gift they receive from your estate. In these
circumstances we write the Will gifting all the assets to the surviving spouse and then if there is
no surviving spouse we appoint Executors and Trustees to manage the assets in the estate until
the children reach the age you wish them to receive the funds e.g. 18, 21 or 25. You therefore
need to decide who you wish to appoint as Executors and Trustees. Generally we require two
Executors and two Trustees and they can be the same persons. In addition we suggest you
express a wish as to who you would wish to act as Guardian for your children i.e. the person or
couple the children would live with on a practical level if you were no longer alive.
Type C – A Will for a single person. To complete this Will we require from you the details of whom you
wish to appoint as the Executor of the estate and who you wish to receive your assets as
beneficiaries of the estate. An Executor can also be a beneficiary of the Will. We generally
advise you to gift the assets away to your beneficiaries in percentage terms i.e. 75% or whatever
percentage you choose to the person you wish to benefit the most from your estate and the
remaining 25% to be divided between the rest of your beneficiaries. It is entirely your decision
how you wish to divide up your estate. You also have to consider if the beneficiaries should
predecease you where their share would then pass to i.e. to their children or to the other
beneficiaries.
Type A – Will for Parents with adult children. If your children are all adults we generally draft your Will to gift all the assets to the surviving spouse on the first death and appoint the surviving spouse as Executor. If there is no surviving spouse the Will gifts all your assets to your adult children in equal shares. We simply appoint your children to act as your Executors on the second death.
Type B – Will for Parents with minor children. This is where your children are under 18 years of age and therefore are too young to manage any gift they receive from your estate. In these circumstances we write the Will gifting all the assets to the surviving spouse and then if there is no surviving spouse we appoint Executors and Trustees to manage the assets in the estate until the children reach the age you wish them to receive the funds e.g. 18, 21 or 25. You therefore need to decide who you wish to appoint as Executors and Trustees. Generally we require two Executors and two Trustees and they can be the same persons. In addition we suggest you express a wish as to who you would wish to act as Guardian for your children i.e. the person or couple the children would live with on a practical level if you were no longer alive.
Type C – A Will for a single person. To complete this Will we require from you the details of whom you wish to appoint as the Executor of the estate and who you wish to receive your assets as beneficiaries of the estate. An Executor can also be a beneficiary of the Will. We generally advise you to gift the assets away to your beneficiaries in percentage terms i.e. 75% or whatever percentage you choose to the person you wish to benefit the most from your estate and the remaining 25% to be divided between the rest of your beneficiaries. It is entirely your decision how you wish to divide up your estate. You also have to consider if the beneficiaries should predecease you where their share would then pass to i.e. to their children or to the other beneficiaries.