The Perpetual Will service was designed by E.L.M (Legal Services)Ltd in order to provide our clients with the ultimate peace of mind.

The idea behind the Perpetual Will is to cover everything with regards to your Will whilst you are still alive and to provide your family with all of the necessary legal support through the Probate process.

Firstly, we offer all of our Perpetual Will clients safe and secure storage of their Last Will & Testament(s) and associated paperwork. Our fire proof facilities ensure that the original documents are kept in pristine condition until such a time as that they are required.

It is essential that your Will is kept in an immaculate condition when submitted for Probate in order to prevent the delays that can be caused due to any uncertainty that the Will has been tampered with.

In addition to our storage facility we also provide our Perpetual Will clients with an update service with no extra costs. This gives you the opportunity to keep your Will as up to date as possible without having to worry about the associated fees. As an out of date Will can be as disruptive as not having one at all, we have found that this service has been incredibly useful for all those who use it. The real value of the Perpetual Will is to be found when our probate and estate administration services are required.

In the case of the first death for a married couple the probate issues tend to be minimal. However any assets (not held jointly), over the £5000.00 limit set by the probate service will be frozen until a Grant of Probate is achieved. The main issues facing the surviving spouse tend to be related to the other formalities. Things such as dealing with property deeds, life assurance policies, the cancellation or the name transfer of bills and services and pension issues. Unfortunately, if these issues are not dealt with swiftly, they can cause emotional and financial distress on top of what is already the most difficult time in most people’s life.

To discover more about Perpetual Wills, please call us now on 0117 952 0698 or Make A Free Online Enquiry and we will discuss your current circumstances with you and explain all available options to you.

What Services Does A Perpetual Will Client Receive?

As a Perpetual Will client you can rest assured that you will be provided with the most comprehensive support during this time. Once we have been notified of the death we will act swiftly and compassionately in order to take away the worry caused by these issues.

For a standard first death service that usually requires a very simple Grant of Probate and the transfer of property and household bills, we charge our Perpetual Will clients just £500.00 at the point of those services being required. If there are any extra ordinary issues which require lengthy and considerable legal services they will be provided at a discounted rate, to a maximum rate of 1.5% of the deceased’s estate value.

On the second death of the married couple we provide their executors with the full range of estate administration services.

Valuation of the Estate:

At the beginning of an Administration of an Estate, an estimate of what the Estate is worth should be obtained, which includes an assessment of the extent of any liabilities in the Estate. This then allows for an application for Grant of Probate.

Applying for Probate:

The next stage is to submit all the papers from the above assessment, the Will and any Codicils to the Probate Court. At this point any inheritance tax due (excluding inheritance tax in any properties which can be delayed for a six month period) has to be paid to the Capital Taxes Office.

Collecting the Asset:

Once the Grant of Probate has been obtained, it will need to be registered with various companies who are holding assets, which will have been frozen up to this point. We can then collect all the readily available assets (unless the beneficiaries have specifically asked us not to) and, as far as possible, settle any outstanding liabilities and pay any cash gifts.

Dealing with Tax:

During the early stages of the Administration, we will need to collect the information required to complete the final income tax return and agree the tax position with the Inland Revenue.

Distributing Assets:

We will distribute the funds available, to beneficiaries, as soon as possible and allow for any claims that may be made against the Estate and any further tax claims. It may be prudent for the Executor(s) to keep adequate reserves to cover any further Administration expenses.

And Finally:

Once we have established all the assets and liabilities in the Estate and the income tax position is finalised, we will need to send a final account to the Capital Taxes Office, showing any amendments to the assets and liabilities previously declared. We will also need to settle any unpaid inheritance tax. When this is agreed, the Executor(s) will receive a formal letter of inheritance tax clearance. On completion of the Administration we will prepare a full statement detailing all the assets and payments made from the Estate. We will then send copies of this statement to the residuary beneficiaries together with any final payments. It’s never possible to say precisely how long the Administration of any particular Estate will take because it depends on the nature of the assets and the legal matters that arise, however if you have elected to purchase our Perpetual Will, you can rest assured that all of the above will be professionally taken care of when the time comes with a simple telephone call.

The cost required, for the above services, on second death to our Perpetual Will clients will not be more than 1.5% of the estate involved. If there are extra ordinary issues that arise, such as assets abroad or a contestation of the will, these services can be provided at a discounted rate.

Fees Associated With the Perpetual Will

In order to provide our clients with all of the services within the Perpetual Will at fixed and discounted rates we do levy a small retainer. The reasons we require some payment whilst our clients are still alive are several:

1. To cover the storage and update facility. Some of our clients do require regular visits from our consultants in order for their Will to keep pace with the various changes of circumstance in their lives.
2. In order for us to keep our first death service to a minimum cost of £500. This simply covers our expenses at the time. We are however a business that is required to make a profit. We think that is preferable for our clients to pay something whilst they are both still alive to keep costs as low as possible during a time when the future has just become uncertain.
3. In our line of work, is it essential that we take an upfront fee for our Estate Administration Services. The nature of the work involved is very time and resource consuming and we need to be able to cover any potential costs for all potential eventualities. An upfront charge is the only way we can cover the risk(s) to the company in respect of undercharging for contracted works.

For example, if a client (without protective property trusts in place) decided to take advantage of equity release on their property or if they went into care, the property (usually the main asset of an estate), would be devalued. This would result in our team administering an estate (at the 1.5%) which is worth very little, resulting in a loss financially on our part as the works required for the administration would not be covered by the fees taken. This upfront charge associated with the Perpetual Will Service not only protects our interests (and ability to provide such services for our clients), but also guarantees the service to be of the best calibre possible with a fixed, low future fee guaranteed, whatever the future may bring.

Pricing Options

We offer a range of pricing options for our Perpetual Will Service, from monthly instalments to a one off fixed price.

Simply call us now on 0117 952 0698 or Make A Free Online Enquiry and we will discuss your current circumstances with you and explain all available options to you.

“We help you plan for tomorrow, today with complete peace of mind”

The Estate Management Plan is designed to offer the ultimate in protection for your assets and your family.

At the core of the Estate Management Plan is our Barrister drafted Lifetime Discretionary Trust.

This type of Trust has been used in the UK for hundreds of years and is probably one of the most useful and versatile estate planning tools available.

For most people the main reason for setting up a Trust is because they want to make sure their loved ones receive maximum benefit from their assets
once they have passed on.

With our Estate Management Plan not only will you and your beneficiaries maximise the advantages of a Lifetime Discretionary Trust, but also be able to utilise our extensive financial and legal support, during your lifetime and on both first and second death.

To discover more about our Trusts & Estate Planning Services, simply call us now for a no obligation discussion about your needs now on 0117 952 0698 or Make A Free Will Enquiry and we will discuss your current circumstances with you and explain all available options available to you.

“Very pleased with the wills recommended to us, all our needs were covered.’
I would recommend them as the process was easy and all of our needs were covered and explained in a way we could understand.

Mrs Lowan

Our clients have been benefitting from our Trust drafting services for many years and these are some of the reasons why:

• Any of your assets that are held within a Trust do not form part of your estate on death. This means that probate would not be required for those assets, and that both substantial amounts of time and money could be saved.When you think that most banks and solicitors can charge between 3% and 5% in legal fees to administer an estate a Lifetime Discretionary Trust becomes an attractive investment.Added to this is the fact that your Trustees would have immediate access to the assets within the Trust and can immediately set about selling any property and distributing finances without the delay and stress of waiting, usually months if not years, to obtain a Grant of Probate before doing so.
• In the event that you lose mental capacity, the need to register a Lasting Power of Attorney to enable your chosen attorneys to manage your finances, can be avoided as the assets held in the Trust can be managed by the remaining Trustees.It is important to note that we still recommend that a Power of Attorney is put in place to deal with matters outside of the Trust.
• The fact that a Trust cannot be contested, in the same way that a Will can, means that it is perfect for those with contentious family circumstances. The impact of a Will being contested can be enormous, not only in respect of timescales and finances, but also from a family relationship perspective.As the majority of the deceased assets will be held within the Trust, they will be protected from anyone who may want to claim against the estate thus ensuring more money for the people that you choose.
• Care home fees can cost from between £2000- £5000 + per month and your local authority will be expecting you to contribute towards those fees.If your assets, including your property, total more than £23,000 then your local authority will expect you to contribute. This, unfortunately, usually means the sale of the family home.Provided that you transfer your assets into a Trust when there is no foreseeable need for care, then any assets placed into the Trust are likely to be exempt from assessment should care subsequently be required.
• As the sole owner of a property, about to enter a new relationship or marriage, an Asset Protection Trust can be used as a sensible way to protect your property for existing children or other members of your family. Most people find it uncomfortable talking about Pre Nuptial Agreements with new partners and as such a Trust is something that can be set up, discreetly and prior to marriage or co-habitation.In the unfortunate case of the relationship ending in separation or divorce, assets held within the Trust should not be taken into account for divorce proceedings as there is no personal ownership of those assets. The assets would be owned by the Trust and controlled by the person who placed them within it and their chosen Trustees.

What’s included:

Our legal team will carefully draft two copies of your bespoke trust document. This document will set out the legal parameters of your Trust as per your instruction taken with one of our specialist Estate Planners.

If you have paid off your mortgage, and wish to transfer a property in its entirety to the Trust, we will prepare all of the relevant Land Registry documents for you to sign.

Our Conveyancer will then carry out the necessary work to complete the transfer on your behalf.

If there is still a mortgage or similar charge on the property, then we will draft a Deed of Equitable Assignment and notify the Land Registry that any equity held within the property after those charges have been paid, belongs to the Trust.

At a later date once the mortgage has been cleared we will then complete the transfer fully.

It is essential that your Trust Deed and Will are kept in immaculate condition, as such, once the documents have all been signed we will store the Trust Deed within our fire proof facilities along with any house Deeds, Wills and any other relevant documents.

In the case of the first death for a married couple the probate issues tend to be minimal. During your lifetime we will assist you to place the majority of your assets into the Trust. However any assets (not held jointly), over the £5000.00 limit set by the probate service and not placed within the Trust will be frozen until a Grant of Probate is achieved.

The main issues facing the surviving spouse tend to be related to the other formalities, such as dealing with life assurance policies, the cancellation or name transfer of bills and pension issues.

Unfortunately, if these issues are not dealt with swiftly, they can cause emotional and financial distress on top of what is already the most difficult time in most people’s life.

As an Estate Management Plan client you can rest assured that you will be provided with the most comprehensive support during this time.

Once we have been notified of the death we will act swiftly and compassionately in order to take away the worry caused by these issues.

For a standard first death service that usually requires a very simple Grant of Probate and the transfer of property and household bills, we charge our Estate Management Plan clients just £500.00 (index linked) at the point of those services being required.

On the second death of the married couple we provide their Executors and Trustees with the full range of estate administration services. These include, valuation of all assets, dissolving the Trust or the required paperwork for your Trustees to take it over and financial and legal support as to the distribution of the assets within the Trust.

If there are assets still held outside of the Trust, and a Grant of Probate is required, then we would provide this service to your executors for a discounted maximum of 1.5% of those assets should they require it.

If there are extra ordinary issues that arise, such as assets abroad or a contestation of the Will, these services can also be provided at a discounted rate.

E.L.M Legal services were very helpful when it come to placing my financial assets and property in Trust for my children. A friendly and
helpful service. I would definitely recommend their services.

Mrs A, Bristol

To discover more about our Trusts & Estate Planning Services, simply call us now for a no obligation discussion about your needs now on 0117 952 0698 or Make A Free Will Enquiry and we will discuss your current circumstances with you and explain all available options available to you.

“Very pleased with the wills recommended to us, all our needs were covered.’
I would recommend them as the process was easy and all of our needs were covered and explained in a way we could understand.

Mrs Lowan