Is your will still right for you? This Update Your Will Week (2nd – 8th March 2026), we are proud to support The Association of Lifetime Lawyers in raising awareness about the importance of both making a will, as well as keeping your will up to date if personal circumstances change. A will is far more than just a legal document. It captures your wishes, protects your loved ones, and safeguards the legacy you want to leave behind. Modern families are changing rapidly, and people often wrongly assume that their loved ones will be automatically taken care of. However, without clear and legally valid instructions, families and partners can face uncertainty, distress, and even costly disputes – often discovering too late that assumptions do not provide protection under the law and can have serious consequences. Why updating your will matters Your will ensures that your money, property, and personal possessions pass to the people you choose. If you have children under the age of 18, you can also appoint legal guardians in your will. And if you have pets, you can decide who will look after them after your passing. But when did you last review yours? If your will is not up to date or you don’t have a will Your estate may be distributed under the intestacy rules, which might not reflect your wishes or your family’s needs. Loved ones could face unnecessary stress, delays, or legal disagreements at an already difficult time. Your will should be treated as a living document – evolving as your circumstances change. Regular reviews aren’t a luxury; they’re an essential part of protecting the people you care about. When should you update your will? It’s best practice to review your will every five years or after any major life event, such as: Getting married or entering a civil partnership Getting divorced or dissolving a civil partnership Becoming a parent or grandparent Buying a home or changing your financial situation Losing a loved one Starting a business You or a beneficiary obtaining a Gender Recognition Certificate Need to make or update your will? If it’s been a while since you last looked at your will – or you don’t have one yet – now is the time to take action. At Browell Smith & Co our Accredited Lifetime Lawyers offer specialist expertise in later-life legal matters. We can help families put clear, legally robust arrangements in place that reflect real lives. We aim to provide personalised support with care, empathy, and attention to detail, ensuring your wishes are clearly documented and legally protected. Don’t wait until it’s too late, ensure your future wishes are in place today. If you need to make or update your will, contact our team for expert advice.
The Importance of Making a Will at Christmas: A Gift of Peace and Goodwill As the twinkling lights of Christmas brighten our homes and the aroma of festive treats fills the air, it’s easy to get caught up in the hustle and bustle of the season. Between picking out the perfect Christmas presents, preparing meals, and enjoying time with loved ones, it’s a time filled with joy, laughter, and celebration. But amidst the holiday cheer, there’s one thoughtful “gift” we often forget to give ourselves and our loved ones, the peace of mind that comes from making or updating your will. Christmas is all about giving, and what better gift could you offer than the gift of security, clarity, and love? By planning your estate and securing your legacy, you’re giving your family the gift of certainty, something truly priceless that will last long after the Christmas decorations come down. 1. A Legacy of Love and Care Christmas is the season of giving, and what better way to show your love than by securing your legacy? Whether it’s a luxurious Rolex watch, a dazzling diamond ring, or a treasured family heirloom, these gifts are often more than just material items, they carry significant sentimental value and emotional weight. Imagine giving or receiving a Rolex watch this Christmas that will be cherished for years to come. Or perhaps it’s a diamond ring, passed down as a symbol of family love and tradition. These gifts may not just represent a financial value, but a lasting memory and legacy. Now, imagine this: If something were to happen to you, would your loved ones know what to do with these meaningful gifts? A well-crafted will ensures that these items, as well as everything you’ve worked for, are passed on exactly as you intend safeguarding both their monetary and emotional value. Without a will, items like your treasured watch or diamond ring could lead to confusion or even disputes among family members, something no one wants to face at a time of loss. By making your will part of your Christmas plans, you’re offering a gift that ensures these precious items continue to tell your story for generations to come. 2. Providing Peace of Mind This Christmas Christmas is a time to relax and enjoy the company of family and friends. However, knowing your affairs are in order can give you the ultimate peace of mind, allowing you to focus on what really matters: creating memories, sharing laughter, and celebrating the season. Whether you’re planning to give a gift to someone special this year, or simply want to ensure your estate is distributed according to your wishes, a will gives you the gift of peace. You’ll know that your loved ones won’t have to worry about the “what ifs” in the future because you’ve already laid out your wishes in a legally binding document. Instead of worrying about what might happen if you don’t plan ahead, you can enjoy your Christmas with the certainty that your legacy is secure. 3. Spreading the Spirit of Goodwill Christmas is all about goodwill, showing kindness and generosity to others. By making a will, you’re spreading that goodwill not only to your family but also to your favourite causes, charities, or even friends. Including valuable items in your will ensures that the person receiving them will cherish them, just as you intended. Whether it’s a family heirloom, a luxury item like a designer watch, or a cherished piece of jewellery, your will protects your legacy and ensures that your loved ones enjoy your gifts long after the festive season ends. And don’t forget, Christmas is a wonderful time to consider including a charitable donation in your will. The season of giving extends beyond family and friends, it’s also a time to spread goodwill to the causes that matter most to you. What better way to make a difference in the world than by leaving a lasting legacy that continues to give after you’re gone? 4. Christmas is the Perfect Time to Review Your Will Christmas is a great time to review and update your will. Have you recently acquired new valuables? Or perhaps you’ve experienced a significant life change, like the addition of a new family member? These milestones are the perfect opportunity to ensure your will reflects your current wishes. Updating your will is a thoughtful way to ensure that, just like your Christmas gifts, your legacy is tailored to your current life and circumstances. So, take a moment this festive season to make sure everything is in order. 5. The Role of Professional Advice While the idea of writing a will may seem overwhelming, seeking professional advice can make the process straightforward and stress free. A solicitor can help ensure that your will is legally sound, that your estate is distributed according to your wishes, and that your other valuables are handled with care. During this festive season, when you’re surrounded by family and love, it’s the perfect time to give yourself the gift of certainty. Professional legal advice ensures that your will is properly drafted, so you can enjoy Christmas with peace of mind knowing that your wishes are secure. A Will is the Gift that Keeps on Giving As we celebrate the Christmas season, we’re reminded of the things that truly matter; love, family, and the future. Making or updating your will is one of the most thoughtful gifts you can give to your loved ones, making sure your wishes are honoured and that your family is spared the emotional and financial stress of navigating a complex estate. Your legacy is more than just the material things you leave behind it’s the thoughtfulness and care you put into making sure your loved ones are taken care of. This Christmas, give the gift of security, peace of mind, and goodwill ensuring your legacy is cherished long after the festive season is over. Like help creating or updating your will, our team at Browell Smith & Co is here to assist. Contact us today to ensure that your gifts, both big and small, are passed on exactly as you intend.
Trust No-One – Why using Trusts may not be effective estate planning Planning for the future can be complex, and many people are told that putting their property into a trust is a simple way to avoid tax, care fees, or probate. However, trusts are not always the quick fix they appear to be. In this article, we explore the key risks and hidden costs of using trusts for estate planning, including how they can affect inheritance tax, probate, and ongoing administration. Before making any decisions, it’s important to understand the full picture and seek professional advice to ensure your estate is protected in the right way. Transferring Property into a Trust – Key Risks The first thing to be aware of when it comes to settling your property into a trust is that you surrender legal ownership of it. This may cause particular difficulty where you settle your home into a trust. By placing legal ownership with trustees, you may find it difficult to obtain affordable home insurance or face complexities and greater costs when selling the property. Other difficulties may occur where the trustees of the trust become uncooperative, hostile or absent. The latter has been most starkly demonstrated in the insolvency of Phillips Trust Corporation and the ensuing fallout, which has been widely reported in the press. It is not uncommon for clients to seek to settle their property into trusts to avoid the costs of care. In short, for care fees planning purposes, a trust will not legitimately work to reduce the costs of care. This is because the Care Act 2014 establishes the framework for ‘deliberate deprivation’. In short, any action taken by a person to deliberately deprive a local authority of assets, which would otherwise be able to be assessed for the costs of care, will be taken into account irrespective of the legal ownership of those assets. Using Trusts to Avoid Probate Some clients make use of trusts to avoid the need to obtain a Grant of Probate on their death. Professional advice should always be sought to ensure that this does not have unintended consequences. It is often the case that a settlor (the person setting up the trust) settles their home into a trust without receiving anything in return (i.e. a gift) but continues to live in the property without paying a market rent to the trustees of the trust. This is known as a “gift with reservation of benefit”. Where a Grant of Probate is required for a different asset within the Estate (e.g. a bank account or Premium Bonds), the streamlined process (where reporting to HMRC is not required) cannot be used because of the gift with reservation of benefit. This means that lengthy forms must be completed and submitted to HMRC that would otherwise have never been necessary, considerably delaying the obtaining of a Grant of Probate. This adds a significant layer of complexity to an otherwise straightforward process and may incur greater costs for your estate. Trusts and Inheritance Tax Implications Where individuals choose to settle their home into a trust, they will lose the availability of the “residence nil-rate band” – an Inheritance Tax allowance worth up to £350,000. This may create a large Inheritance Tax bill for your Estate which would have been avoidable. There is a way to reclaim the residence nil-rate band but this must be actioned within two years of death and not without significant time, effort and cost due to the complexity involved. Administration and HMRC Compliance The unfortunate reality of trusts is that, whilst they may look attractive on paper, they often require a greater level of administration than first anticipated. For example, a trust which contains an income-generating asset should have an annual tax return submitted to HMRC. This may necessitate the involvement of an accountant – an additional expense for a trust. Furthermore, most trusts must be registered with HMRC’s Trust Registration Service and there can be severe financial penalties for failing to do so. When a Trust May Be Suitable In summary, trusts can be an extremely useful tool when applied to the right circumstances. The reality is that there are few circumstances where placing your home into a trust is the right tool for estate planning. If you are considering a trust, professional advice should always be sought – at Browell Smith & Co. Solicitors, we are happy to discuss all aspects of appropriate estate planning, including mitigating Inheritance Tax and limiting liability for the costs of care. Our experts offer holistic advice and provide a tailored solution for all shapes and sizes of estate, for people from all walks of life. Contact us today to arrange your free initial consultation by phone 0191 691 3417 or email probate@browells.co.uk.