Your home may be repossessed if you do not keep up repayments on your mortgage.

Wills & Trusts

What is a Will?

A will is a legal document that sets out your wishes regarding the distribution of your property and assets, and the care of any minor children. It gives the creator the sole discretion over the distribution of their assets, and leaves this process more straight forward for the acting solicitor who will deal with their estate upon their death.


What is a Trust?

A Trust is a legal arrangement through which one person called a "trustee", holds legal title to an asset such as a "life assurance policy" for another person, called "a beneficiary". A trust usually has two types of beneficiaries-one set that receives either an income from the trust during their lives and another set that receives whatever is left over after the first set of beneficiaries dies. Also, a trust passes to the beneficiaries outside of probate, so a court does not need to oversee the process, which can save time and money.

"Ensuring the right money goes to the right people at the right time"

If any of the following areas are of concern, we can ensure a specialist helps you.

We will advise you whether that specialist is part of Intrinsic or not (e.g. will writing services are not provided by Intrinsic. Intrinsic are not responsible for any advice given on will writing).

Why do I need a will?

Having a will is the only way to be sure that your estate is dealt with exactly as you wish when you die. It is not as simple as your entire estate automatically passing to your spouse.

If you do not have a will, the law of the country you live in will decide what happens to your estate. The outcome can be influenced by laws of other countries where you may have assets, or have lived in the past. This can take a long time to resolve.

Key topics that influence the law's decision on where your estate is passed without a will are:

  • The value of your estate
  • Whether you have children
  • If you are currently married.

A will also ensures that children or dependents are looked after in accordance with your wishes.

Why do I need a will?

Inheritance tax is only for the super-rich, so I do not need to worry!

Turning a house into a home is a thing to cherish, and takes time. Your home is also likely to be the biggest single asset in your financial estate. As a result it can impact how much of your estate is passed on to your loved ones in the event of death.

Inheritance tax is payable on death, but can also have to be paid during your lifetime depending, on how you "gift" away assets.

Each year the UK Government reviews the tax rates payable, the reliefs available, the amounts over which it becomes payable and how it treats gifts during your lifetime.

It is important to plan each year and check that your estate is passed legally and ethically to your loved ones without a major part being paid to the tax man.

Inheritance tax is only for the super-rich, so I do not need to worry!

Trusts - what do they do?

A trust is a legal deed that ensures the asset placed inside it is treated in a specific way for taxation and access.

For example, a trust helps ensure that life cover is paid out quickly to those who need it, and often without impacting taxation issues. By placing life cover in trust, the proceeds can be placed outside your estate for inheritance taxation treatment.

We strongly urge all our clients to consider this option.
Trusts - what do they do?

Lasting and enduring power of attorney

This allows you to grant somebody else the power to act on your behalf.

There are different types depending on where you live, what types of decisions you want to use it for, and when you want to use it.

For example, some cover property and financial decisions, and others cover your health and medical well-being.

Lasting and enduring power of attorney

Please note that advice on taxation, trusts, power of attorney, wills, and will writing are not regulated by the FCA.

Get in Touch
Telephone:028 8225 0000 Mobile: 077 7188 4633
Address: 8 Dublin Road, Omagh, Co. Tyrone BT78 1ES

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