Frequently Asked Questions - Page 2

Will I have to pay Inheritance Tax?

 

See the Inheritance Tax page

 

Do married couples need two Wills?

 

Both of you need to make a Will. A pair of similar Wills are called 'mirror Wills'. Getting married or remarried cancels a previous Will unless the Will expressly states otherwise.

 

Why should I update my Will?

 

See our guidance on reasons for changing your Will

 

What should I take into account when I make gifts of money?

 

We recommend that any bequests of money should be kept to a small proportion of your total estate. This is because of the technical rules of English Law by which all such gifts are paid first out of the estate which may be unfair to the person who is to receive what is left. In our standard Will the estate will bear the tax, if any, on the gift.