Planning your future can be daunting, but a well-tailored Will can simplify everything for everyone. Personal designed Wills safeguard your loved ones, allocate your assets in line with your wishes and secure your personal wishes.
Let's look at some common questions asked in our FAQ section below. Or, if you want to speak to someone now you can use the ‘Book a Meeting’ button below.
Book a MeetingCommon Questions about Wills & Trusts (FAQ)
What is different between a Will and a Trust?
A trust can be active during your lifetime or after death. A Will only comes into effect upon death. Wills must go through probate, making them public and challengeable. Trusts are usually private and can bypass probate. A trust can have tax benefits. Only a Will can appoint a guardian for dependents and funeral wishes.
Are Wills a public record?
Once a grant of probate has been issued the Will becomes public and anyone can request a copy.
Can Wills be contested?
It is possible to challenge a Will. Even after probate; although it is advisable to file a claim promptly.
Why is a Will Necessary?
Having a Will is important for several reasons: it allows you to choose a guardian for your children, ensure your partner is protected even if you’re unmarried, secure your family home, prevent potential family disagreements, manage inheritance tax and make sure your pets are looked after. All these reasons make a Will essential.
What is a trustee?
A trustee manages assets like land or money that is kept in a ‘Trust’. The trust protects these assets and ensures they’re used according to the wishes of the person who created the trust; known as the ‘settlor’.
Where do I store my Will?
We offer a secure storage service via Soteria Planning, some banks offer storage, probate services, at home, some solicitors offer a service. It is important to talk this through with a Soteria team member in our advice.
Is a Will legally binding?
Yes and No. This is one to talk to a Soteria Adviser about as it can be a complex answer.
Can I change my Will in the future?
Yes, you can change a Will and you might need to make alterations throughout life to keep the Will valid and relevant. We also offer an annual review to all our clients.
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