About Make A Will With Willpower
Providing advice on making a will to cover assets in UK and Cyprus. We can also provide Lasting Powers of Attorney and create trusts to protect your assets
Make A Will With Willpower Description
Our Cyprus Wills are drafted and administered in the UK.
Unlike many firms of Cypriot lawyers, we quote fixed fees for all of our services.
One of our qualified consultants will take your instructions in the comfort and privacy of your own home in Cyprus, at a time that is convenient to you (including evenings and weekends). We will make this as easy as possible by giving you helpful advice and guidance where necessary.
The completed document will then be personally delivered to you to be checked and signed, thus making it a legally binding document. Our Wills are written in plain English to save any ambiguity and to ensure that you understand that your wishes have been expressed.
We can help you with: -
Single Will or Single LPA or Single Advance Decision
(a single document for a single person)
Mirror Wills or Mirror LPA or Mirror Advance Decision
(two documents drafted as a 'matched pair' for husband & wife or a couple)
Fee's for Cypriot Wills exclude Stamp Duty - payable either when Will is drafted or when Will is delivered to the courts on death.
Reviews
Warning over DIY wills after families disinherit their children http://dailym.ai/2GpViGI via http://dailym.ai/android
What you need to think about when writing a will http://dailym.ai/2y4Vtq1 via http://dailym.ai/android
In Cyprus it is even more important to make a Will than in UK.
http://www.telegraph.co.uk/…/new-death- tax-confirmed-prob…/…
My ex remarried but died before making a new will - who inherits?
http://dailym.ai/2doYmFQ
This is good news. Finally this is an option in Cyprus provided you register.
How does the abolishment of section 42 affect my Will?
Until recently, British people who own assets in Cyprus have been able to make a Will which distributes their Cyprus estate according to their wishes and free of the restrictions of the Cypriot system of forced heirship. However this concession, known as section 42, was removed from Cyprus law on 3rd July 2015 and now everyone who owns assets in Cyprus will be subject to the system of forced heirship. It is unlikely that... this system will suit many couples as it gives children a right to inherit a share of their parents’ estate, even if their parents spouse is still alive. It also makes no provision for a step child to inherit a share of an estate left to their step parent by their natural parent. For people who are British nationals (hold a United Kingdom Passport) it is expected that a new EU regulation on succession (referred to as Brussels IV) which came into effect on 17th August 2015 will help. Although the United Kingdom opted out of the EU regulation, it allows a citizen (including a non EU citizen) who owns assets in any EU country (except the United Kingdom, Eire and Denmark ) to declare in a ‘testamentary declaration’ whether the law of their nationality or the law of their habitual residence applies to the distribution of their estate. This declaration can be made in a Codicil and Willpower are providing a template of the Codicil, with instructions on how to complete it, free of charge to all of our clients. Anyone who drew up or amended their Will with Willpower after 1st January 2015 will already have the necessary wording in their Will and therefore won’t need to complete the Codicil. If you are a Willpower client with a Cyprus Will dated before this date and you don’t hear from us within the next couple of months then please contact us. Contact us too, if you are not a client of Willpower and would like free advice on having a Will drawn-up which complies with the new regulation. Willpower can draft UK and/or Cyprus Wills and Lasting Powers of Attorney for UK assets. We have been based in the UK for over 20 years and have been providing wills in Cyprus for several years. We are members of the Institute of Professional Willwriters and abide by a Code of Practice approved by the UK Trading Standards Institute. For free advice without obligation please contact our Cyprus based consultant Jane Carr on tel. (00357) 99565815. Email :jane@willpower.co.uk. Also see www.willpower.co
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http://www.dailymail.co.uk/…/Daughter-w ritten-mother-s-bitt…
After reading this controversial news item you may wonder why you should make a will excluding someone when the court can over turn it.
A more balanced view of the case is here :
... http://wilkes.co.uk/woman-wins-164k-despi te-being-excluded…/
There are some special factors in this case
1) The Will made provision for charities who had no reason to expect to be beneficiaries of the Will
2) The testatrix had no previous connection to the charities
3) The award was made so that the daughter could buy a house and release her from a dependency on housing benefit
4) The testatrices view of her daughters relationship with her husband, which was the nub of the issue, was somewhat distorted.
Therefore, in most cases this ruling doesn’t change the benefit of having a Will and the role that a Will can play when excluding a beneficiary.
In the case of excluding a close family member we will be recommending that notes are kept with the reasons for exclusion. Further more,where the beneficiaries chosen instead of an excluded beneficiary appear to have no connection with the testator, such as friends, charities, distant relatives, there should be notes kept on why those beneficiaries have been chosen.
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Making a Lasting Power of Attorney is just as important as making a Will. It is like an insurance policy. Those closest to you may never need it, but if they are responsible for looking after your finances in the future, they will certainly be relieved that you arranged an LPA. This article in the Daily Mail highlights some problems even if there is an LPA. Without one it will be impossible to manage someone's financial affairs at a time of crisis without expensive legal costs and months of delays. Ask Jane at Willpower for more information on making your own LPA.
Making a Will is so important.
Is your Will out of date ? Most of us are aware of the importance of making a will. However a will made several years ago may now be out of date. Are the people you appointed as Executors still alive or well enough to cope with the administration duties required of an Executor? If one or more of your children is now an adult then they could make the perfect Executor instead of an elderly relative or friend whom you may have already appointed. Would you choose the same Benefic...iaries today as the ones currently on your existing will? Perhaps you are now Grandparents and want to make a provision for your Grandchildren? Have you acquired Cyprus assets since your existing wills were written? If so it is recommended that you have a separate will to cover your Cyprus assets. If you have made a will in Cyprus does it cover your assets in UK or investments in offshore bank accounts? If not you need to consider making another will. Marriage revokes wills. So if you have remarried since making your last will, and your will does not include a clause declaring your intent to marry your new partner, then your current will is invalid. This affects all beneficiaries, so your children could lose most of their inheritance to your new partner or their relatives, and the Cyprus laws of intestacy will decide who inherits your estate. If since making your will you have divorced or separated, then your ex spouse or partner could be the main beneficiary of your assets. That could be a scary thought? It is essential to have a Cyprus will if you have assets in Cyprus otherwise your spouse or partner won’t inherit all of your estate including your home. If you have made a will nominating a Lawyer as Executor this can be costly without knowing what the Lawyers Executor charges will be. This could be as much as 10% of your Estate. Willpower can draft UK and/or Cyprus Wills and Lasting Powers of Attorney for UK assets. We have been based in the UK for over 20 years and have been providing wills in Cyprus for several years. We are members of the Institute of Professional Willwriters and abide by a Code of Practice approved by the UK Trading Standards Institute. For free advice without obligation please contact our Cyprus based consultant Jane Carr on tel. (00357) 99565815. Email :jane@willpower.co.uk. Also see www.willpower.co.uk
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Contact me for a free consultation. Tel. 99565815.
Cyprus & UK Wills Useful Fact No. 10
*** Gifting Your Property - The Crucial Facts You Need to Know ***
Should I gift my property whilst I am alive to save probate fees when I die?
... This is something a lot of people consider later in life and you may even have been advised to make your house a gift now, so that there will be no need for Cyprus Probate when you die. BUT before doing so you should BE AWARE of the DISADVANTAGES.
One of our clients who is several years older than their spouse was advised (not by us) to put their home in their spouses name as it was assumed that the eldest will die first. That can be a very dangerous and costly assumption. Unless you are in possession of facts to that effect, then it is impossible to know for sure who will die first.
There could be additional costs incurred and complications with probate, should the younger partner unexpectedly die first.
If you decide to make a gift of your home to your children or someone else close to you, then you should consider the potential consequences first.
For example:-
If the beneficiary divorces then your home could be at risk of being repossessed as part of a divorce settlement.
This could also happen if your beneficiary or their spouse becomes bankrupt.
If your beneficiary predeceases you, then your home will become part of their estate. Unless they have made a will naming you as the beneficiary, any other beneficiary could force you to sell your home to claim their inheritance!
Generally it is much safer to keep assets such as your home in your own name and make a will that reflects your wishes.
We offer great value and advice when it comes to making a will providing you with peace of mind and security that you just can't put a price on.
It is essential that you have a Will if you have Cyprus assets, otherwise your spouse or partner won’t inherit all of your estate including your home. If you have already made a will nominating a Lawyer as Executor this could be more costly than you realize. Do you know what the Lawyers Executor charges will be? It could be as much as 10% of your Estate. Find out now before it's too late!
Willpower can draft UK and/or Cyprus Wills and Lasting Powers of Attorney for English assets as well as Cyprus assets. We have been providing wills in Cyprus for several years. We are members of the Institute of Professional Will-writers and abide by a Code of Practice approved by the UK Trading Standards Institute.
For free advice without obligation, please contact our Cyprus based consultant Jane Carr on tel. (00357) 99565815 or Email Jane at jane@willpower.co.uk
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Note to oneself... remind oneself to check one's Will...
Cyprus & UK Wills Useful Fact No. 9 Did you know that Marriage revokes wills? So if you have re-married since making your last will, and your will does not include a clause declaring your intent to marry your new partner, then your current will is invalid!
This affects all beneficiaries, so your children could lose most of their inheritance to your new partner or their relatives, and the Cyprus laws of intestacy will decide who inherits your estate.
... So don't leave it to chance and the Cyprus Law, if your marital circumstances have changed since you drew up your Will, check it now (go on, before you forget ;-p ). If you need any advice we are here to help.
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Promoting Willpower today by offering free advice. If you would like a free consultation then let Jane know.
Cyprus & UK Wills Useful Fact No. 8 (2 for the price of 1 today!) Have you:- Acquired Cyprus assets since your existing wills were written? If so it is recommended that you have a separate will to cover your Cyprus assets. If you have made a will in Cyprus does it cover your assets in UK or investments in offshore bank accounts? If not you need to consider making another will. Lots to think about here and its only Monday!... Have a great week everybody
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Cyprus & UK Wills Useful Fact No. 7 Something for you to think about... Would you choose the same Beneficiaries today as the ones currently on your existing will? Perhaps you are now Grandparents and want to make a provision for your Grandchildren?
By the way - is it me or is it hot in here! What are you doing to keep cool this Summer - we'd love to hear your best ideas. We thought we'd try a bit of this...