Will, Trust and Succession Solicitors — Scotland

Wills and succession planning

Why should I draw up a will?

It gives you control over what happens to your assets when you die. While it may not be pleasant to think about, preparing a will reduces stress for your loved ones and ensures your last wishes are respected. It also provides you with peace of mind knowing that your estate is in order.

A will allows you to clearly state who should inherit your money, property, and other assets upon your death. It is the only way to ensure your wishes are granted, whether passing on a family business, or personal belongings.

Working with our private client team gives you access to expert solicitors. We’ll guide you through every aspect of estate planning. This includes succession planning, trusts, inheritance tax and capital gains tax considerations. We also offer sound, balanced advice on asset protection, ensuring your wealth is preserved for future generations.

If you have business interests or rural estates, it’s important to take care of your estate and tax planning. Our will solicitors can help with business success planning, family governance and tax mitigation strategies. We also support clients managing all their assets, lifetime trusts and estates.

Without a Will in Scotland, your assets will be distributed under Scots Law. This might not align with your desired intentions and can lead to additional costs, delays and uncertainty during a difficult time for your loved ones.

If you already have a will, it’s always wise to review it every few years, especially after major life events such as marriage, divorce or the birth of a child. Our will lawyers in Scotland are here to offer expert advice and help you keep your documents up to date.

Making a will

What is involved in drafting a will?

When preparing a will, the first step is choosing your will executor. Executors are individuals you appoint to manage and wind up your estate after your death. It’s important to choose someone you trust. This is often a family member, friend or professional who can confidently navigate your affairs.

You should also consider all your assets, including property, investments, savings accounts and cash. Consider how you would like each of these to be divided among your beneficiaries. This is a key part of effective succession planning.

Your will can also include legacies, such as sums of money or particular possessions. These can be left to individuals or individual charities. Additionally, many people use their will to outline their preferences for funeral arrangements.

If you have children under the age of 16, your will allows you to nominate guardians to care for them. Taking this step helps secure their future and provides invaluable reassurance to your family.

For a will to be valid in Scotland, it needs to be in a particular form and be signed in the presence of a witness. Our succession planning lawyers will take care of this process for you, ensuring that your will complies with all relevant legal requirements. All you need to do is provide clear instructions about your estate and ensure all necessary signatures are completed and signed in the correct places.

Contact us today to speak to our trust and succession planning solicitors. We’ll guide you through every step with care, confidentiality and professionalism.

My Will appointment

How to prepare for my Will appointment

At Watermans, our trust solicitors are here to make will writing in Scotland as straightforward as possible. You can schedule your will appointment at one of our offices or choose a video consultation via Zoom. If opting for Zoom, we recommend using a steady surface for your device to ensure all parties are visible.

You do not need to prepare any formal documentation before your appointment. However, it can be helpful to consider a few key points in advance. This helps us provide the most relevant and effective legal advice regarding your assets, wishes and potential tax planning considerations.

Before the meeting, consider the following:

• Do you know the full names and current addresses of those you plan to name in your Will?
• If you have children under the age of 16, have you thought about who you would want to appoint as guardians?
• Would you like to include a failsafe clause in the event of a common calamity? This might name another relative, trusted friend, or perhaps multiple charities.
• Do you have pets? If so, who would you want to look after them?
• Have you thought about your preferred funeral instructions?
• Do you own a business? If so, we can help with business succession planning, including how to best protect assets and ensure continuity.
• Are there any specific trust funds, discretionary trusts, or other structures you’d like to set up? These can be used to hold assets as part of your estate planning.

If your estate includes high value assets, investment portfolios, or complex arrangements involving trustees, third-party claims, we can help. Our trust and succession lawyers will guide you through the relevant tax rules, including tax returns, probate (known as confirmation in Scotland), and inheritance matters.

Why Watermans?

Why should I choose Watermans to draw up my Will?

At Watermans, our will and trust lawyers have been providing straightforward legal advice for over thirty years.

Our family trust lawyers are here to help, offering a full range of services tailored to your needs. Our will services in Scotland include minimising tax liabilities, advising trustees, and offering guidance on planning for potential financial difficulties. Writing a will can seem daunting, but we make the process straightforward and easy to understand. We handle the legal complexities so you can focus on what matters.

We offer the following prices for our Will writing services;

• Single Will – starting from £300 plus VAT

  Our will service includes meeting with you and advising you according to your specific circumstances, preparing and finalising your will document and storing this on your behalf.

• Single Power of Attorney – : £375 plus VAT and Registration Dues

  As part of our power of attorney service, we will meet with you and discuss your specific circumstances, advise you and then draft your power of attorney document. We will also contact and liaise with your chosen attorney or attorneys, provide the relevant certification and then register your power of attorney document with the Office of the Public Guardian in Scotland.