Many Wills are relatively straightforward from a legal perspective and can be done easily with the support of Wills and probate solicitors in North Wales.
There are times, though, when these legal professionals will be tasked to deal with much more complex Wills.
One of the main ways of dealing with complicated financial issues is the property fund Will. This is usually used when cash is not the main asset of a decedent, but property is. It is important to protect this kind of asset as it can be easily reduced to meet the costs of a divorce or care costs of an unwell partner; a property Will can protect against this.
Complex Wills often do not leave assets outright to a spouse or partner, so it is vital that instructions are clear and unequivocal. Normally, the property is left to the children of the marriage, though they will not get immediate access to it. They will not get the property until the surviving spouse dies. If the survivor moves out of the house, for example, it is they who could receive any monies from renting out the property. They can sell the house in the event of the death of the remaining spouse.
Solicitors in Bangor will advise that this process would ensure that the surviving spouse always has a home to live in for as long as they choose.
Contact us now at Bennett Smith Solicitors and ask us about all things relating to Wills; our experts can give you the most up-to-date advice available.
