Wilson's Wills

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Wilson's Wills

Wilson's Wills is headed by Jeremy Wilson. Jeremy has worked professionally in this area of law for over thirty years.

Until 2024 he was a solicitor, partner and head of the Private Client department of a regional firm of solicitors in Kent.

07/06/2026

So my last post discussed the need to survive seven years from the date of the gift as far as Inheritance Tax is concerned. If you died within this period the gift fails and passes back into your estate.

There is one significant trap to be aware of and that is the reservation of benefit rule. In essence if you retain any benefit in what has been given away then, as far as the Revenue is concerned, you have not made a proper gift and the asset will remain in your estate. This will remain the case no matter how long has elapsed since the gift was made.

This is particularly problematical if you want to give your main residence away to the children. By continuing to live in the property means a reservation of benefit and the only way around this is to pay the children a full market rent having already given the house away. Unless you are very rich this becomes unaffordable for most clients.

Hi. This is Jeremy from Wilson's Wills. I will be giving a free information seminar at Portfield Hall Christchurch BH23 2AQ on Friday the 26th June 2026 at 1pm on protecting your family assets. I will look at Inheritance Tax and Long Term Care. I will be discussing ways of saving tax and protecting your capital from the costs of care. I will also talk about the importance of a properly drafted Lasting Power of Attorney.

Come and join me, there really is nothing to lose. Book yourself a place by emailing [email protected]. Spaces are limited so book now.

05/06/2026

As Inheritance Tax is based on what you own when you die one of the simplest ways to reduce the tax is to give assets away when you are alive. You can give what you like away to an individual but the key issue is that you must then survive for a period of seven years.

If you do not survive this period then the asset is simply brought back into your estate. The one misconception here is that taper relief will automatically apply if you survive three years or more. This is only partially correct. In essence you need to have given more than £325,000 for taper relief to apply. If you have given a smaller amount you must survive the full seven year period.

My next post will look at the reservation of benefit rule and how this stops many gifts from working.

Hi. This is Jeremy from Wilson's Wills. I will be giving a free information seminar at Portfield Hall Christchurch BH23 2AQ on Friday the 26th June 2026 at 1pm on protecting your family assets. I will look at Inheritance Tax and Long Term Care. I will be discussing ways of saving tax and protecting your capital from the costs of care. I will also talk about the importance of a properly drafted Lasting Power of Attorney.

Come and join me, there really is nothing to lose. Book yourself a place by emailing [email protected]. Spaces are limited so book now.

04/06/2026

So what happens if you do not make a will? The answer is simple the system decides who takes instead of you. Let us take a simple case of a married couple with two children. The property worth £400,000 is in the husband's name. He dies leaving no will.

The wife will take the personal belongings and a share of the property worth £322,000. The remaining share being £78,000 is divided with half passing to the wife and the remaining half to the children. As a result of not making a will £39,000 passes to the children. If they are young this is held in trust until they are 18.

There is an assumption out there that spouses will automatically inherit under theses rules. This may be the case but clearly not all the time.

Hi. This is Jeremy from Wilson's Wills. I will be giving a free information seminar at Portfield Hall Christchurch BH23 2AQ on Friday the 26th June at 1pm on protecting your family assets. I will look at Inheritance Tax and Long Term Care. I will be discussing ways of saving tax and protecting your capital from the costs of care. I will also talk about the importance of a properly drafted Lasting Power of Attorney.

Come and join me, there really is nothing to lose. Book yourself a place by emailing [email protected]. Spaces are limited so book now.

03/06/2026

So you and your partner have been living together for many years. You have previously made wills leaving everything to each other. A very sensible thing to do. You then decide to tie the knot and marry. What happens to the wills you previously made?

Unless they were made in contemplation of marriage the marriage will have revoked the wills. This means that if either of you then die the intestacy rules will take effect. Your spouse may inherit under those rules but the amount he or she takes will depend on whether you have left children and the size of your overall estate. If you marry it is essential that you make new wills or the very least prepare codicils reviving your earlier wills. My next post will look at the intestacy rules in more detail.

Hi. This is Jeremy from Wilson's Wills. I will be giving a free information seminar at Portfield Hall Christchurch BH23 2AQ on Friday the 26th June 2026 at 1pm on protecting your family assets. I will look at Inheritance Tax and Long Term Care. I will be discussing ways of saving tax and protecting your capital from the costs of care. I will also talk about the importance of a properly drafted Lasting Power of Attorney.

Come and join me, there really is nothing to lose. Book yourself a place by emailing [email protected]. Spaces are limited so book now.

02/06/2026

So let us suppose that you and your wife had made wills some time ago leaving everything to each other and on the death of the survivor the estate passes to the children. You have now divorced what happens to the previous will?

There is a misconception that divorce revokes the will. It doesn't. The rule is that the divorce automatically removes your ex-spouse as a beneficiary and executor but the will otherwise remains valid. So in the above example the children would inherit on your death. However this rule can cause legal gaps so I would recommend you preparing a will as part of the divorce process. My next post will look at what happens to your will when you marry.

Hi. This is Jeremy from Wilson's Wills. I will be giving a free information seminar at Portfield Hall Christchurch BH23 2AQ on Friday the 26th June 2026 at 1pm on protecting your family assets. I will look at Inheritance Tax and Long Term Care. I will be discussing ways of saving tax and protecting your capital from the costs of care. I will also talk about the importance of a properly drafted Lasting Power of Attorney.

Come and join me, there really is nothing to lose. Book yourself a place by emailing [email protected]. Spaces are limited so book now.

07/05/2026

If one of your children is on means tested benefits and you are making a will, think twice before you leave them a simple share of your estate. If they have money over £6,000 their benefits will be reduced and capital over £16,000 will mean the benefits are taken away altogether. The beneficiary of your estate will become the DWP.

Instead consider setting up a trust in your will so that money can be drip fed to your child. They will remain on benefits and still have financial protection because of the trust.

Hi. This is Jeremy from Wilson's Wills. I will be giving a free information seminar at Portfield Hall Christchurch BH23 2AQ on Friday the 29th May 2026 at 1pm on protecting your family assets. I will look at Inheritance Tax and Long Term Care. I will be discussing ways of saving tax and protecting your capital from the costs of care. I will also talk about the importance of a properly drafted Lasting Power of Attorney.

Come and join me, there really is nothing to lose. Book yourself a place by emailing [email protected]. Spaces are limited so book now.

06/05/2026

If you have a child with special educational needs have you thought about how to protect them in your will? A properly worded trust can ensure that they will continue to receive the benefits they have been receiving and can also protect them from unscrupulous third parties.

Hi. This is Jeremy from Wilson's Wills. I will be giving a free information seminar at Portfield Hall Christchurch BH23 2AQ on Friday the 29th May 2026 at 1pm on protecting your family assets. I will look at Inheritance Tax and Long Term Care. I will be discussing ways of saving tax and protecting your capital from the costs of care. I will also talk about the importance of a properly drafted Lasting Power of Attorney.

Come and join me, there really is nothing to lose. Book yourself a place by emailing [email protected]. Spaces are limited so book now.

05/05/2026

Inheritance Tax planning isn't just about money. It's about making sure your legacy benefits your loved ones, not the taxman. Start planning while you still can.

Hi. This is Jeremy from Wilson's Wills. I will be giving a free information seminar at Portfield Hall Christchurch BH23 2AQ on Friday the 29th May 2026 at 1pm on protecting your family assets. I will look at Inheritance Tax and Long Term Care. I will be discussing ways of saving tax and protecting your capital from the costs of care. I will also talk about the importance of a properly drafted Lasting Power of Attorney.

Come and join me, there really is nothing to lose. Book yourself a place by emailing [email protected]. Spaces are limited so book now.

03/05/2026

Are your insurance policies in trust? If not, they could be counted as part of your taxable estate. This small change could save your family a large tax bill.

Hi. This is Jeremy from Wilson's Wills. I will be giving a free information seminar at Portfield Hall Christchurch BH23 2AQ on Friday the 29th May 2026 at 1pm on protecting your family assets. I will look at Inheritance Tax and Long Term Care. I will be discussing ways of saving tax and protecting your capital from the costs of care. I will also talk about the importance of a properly drafted Lasting Power of Attorney.

Come and join me, there really is nothing to lose. Book yourself a place by emailing [email protected]. Spaces are limited so book now.

01/05/2026

Putting property into a trust can help protect it from being assessed from care fees. It's not suitable for everyone, but it could be right for you.

Hi. This is Jeremy from Wilson's Wills. I will be giving a free information seminar at Portfield Hall Christchurch BH23 2AQ on Friday the 29th May 2026 at 1pm on protecting your family assets. I will look at Inheritance Tax and Long Term Care. I will be discussing ways of saving tax and protecting your capital from the costs of care. I will also talk about the importance of a properly drafted Lasting Power of Attorney.

Come and join me, there really is nothing to lose. Book yourself a place by emailing [email protected]. Spaces are limited so book now.

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Bournemouth

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+447713821686

Website

https://www.wilsonswills.co.uk/

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