Types of Will

Different types of will

There are many types of will, you will hear people talk about: Single Wills, Joint Wills, Mirror Wills, Mutual Wills, Living Wills, Pour-over Wills, Discretionary Trusts, Property Trusts, the list goes on.

At Parsonage we like to keep things simple and we can fit all of the above into 3 simple categories of will.

Category 1

This type of will covers the essentials that everyone needs.

 It will provide:-

  • Details of who your executors will be
  • Up to 3 cash or specific gifts
  • Details of who should look after minors (children under 18)
  • A simple division of your residuary estate; and
  • Substitute beneficiaries if the people you want to benefit from your estate die before you.

Category 2

This type of will goes one step further from our category 1 will

If you want to make more legacies, or would like to give someone an income for life, or a basic right to live in property, then this is the Will for you.

Category 3

A will in this category is likely to incorporate a trust tailored to suit your circumstances.

This type of will is useful in cases where:-

  • You have ever-changing wishes regarding who gets what, when and by how much
  • You have business assets
  • You own property jointly with someone else.

To book an appointment fill in the form on the right, call 0161 928 2706 or email info@parsonagefinancial.co.uk