Clarity Wills | What Products Do I Need?
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What Products Do I Need?

There is no such thing as a standard Will as everyone’s situation is different. Your Will should be tailored to your own particular circumstances.

Below is a simple explanation of our products and the circumstances in which they will be used. Of course, not every product will be suitable for you and you Will advisors guide you accordingly.




We offer a professional and personalised service, with your own fully qualified Will Writer assigned to handle your case from start to finish.

Your advisor will be available to you at any time with every advisor having a direct dial and mobile telephone number.


Single Will


Designed to help you outline who will administer your estate, be guardian to your children and administer any trust should you want specific bequests outlined.


Mirror Wills


Designed for couples with similar desires in how their estate should be administered, who shall be guardians to their children and administer any trusts should you both want specific bequests outlined.


Expression of Wishes


An addendum to your Will outlining your wishes pertaining to your pensions and any additional chattels.




A trust is a very simple arrangement to ensure the assets you are leaving to your loved ones are looked after properly when you are gone.

A trust is created by you (The Settlor), you entrust your assets to responsible people of your choosing (The Trustee’s) for the benefit of your loved ones (The beneficiaries).

It is a common misconception that your trustee’s and your beneficiaries can’t be the same people, this is not true.

There are different trusts for different scenarios; your Will advisor will let you know which trust is suitable for you. The different trusts and their uses are listed below;


Mirror Protective Property Trust Wills


On first death your share of any property you own is passed into a trust. The Trust is set up to accept the share of the property and at the same time a Lifetime interest is created for the remaining owner of the other share of the property (normally the remaining spouse or partner) this lifetime interest allows the remaining owner to:


  •  Sell the property if they wish to, in conjunction with the trust
  •  Buy another property with the proceeds of the sale of the original property. If downsizing the surplus cash can be split with the remaining owner getting 50% of the surplus cash
  • The powers of the Trust allow the remaining spouse/partner to borrow any cash in the Trust
  • The property cannot be sold without the permission of the Lifetime Tenant (normally the remaining spouse/partner)
  • The lifetime tenant cannot be evicted from the house for the rest of their Lives
  • The ultimate beneficiaries of the Trust would normally be the children after second death


This type of trust can be very effective in several scenarios:


  • Protecting the Property from being sold to fund Long term care
  • For couples (married or unmarried) who have children from different relationships. Each Partner/spouse would determine who would benefit from the Protective property trust and in what shares after second death. This ensures that your children from any relationship will always inherit your share of any property held in Joint names


Discretionary Trust


Discretionary Trusts are a particularly useful tool when considering Inheritance Tax (IHT). This is particularly beneficial to unmarried couples.

The assets that would otherwise have been passed on to the surviving partner or spouse are instead placed in trust. The surviving partner can be made a beneficiary. Trustees must be appointed.

Under the terms of the Trust, the beneficiary does not have absolute entitlement to the assets and therefore cannot demand income or capital as they please.

As a result, the assets placed in trust are not treated as part of that individual’s estate for tax purposes.

A Letter of Wishes is provided alongside the Will. The letter states the express wishes of the deceased and also ensures that adequate provision is made for the surviving partner.


Flexible Life Interest Trust (FLIT)


This Trust is incorporated as part of a Will and is usually created on the death of the first spouse; this will be advantageous to couples who own their own property and have additional savings or shares that they wish to incorporate.


The trust has a number of benefits:


  • This Trust can help protect your home against care fees.
  • The Trust preserves assets for the nominated beneficiaries.
  • The Trust protects against beneficiaries being declared bankrupt.
  • The Trust can guarantee an appropriate distribution of assets where couples each have children from other relationships.


The Trust cannot be contested or challenged by potential relatives, unlike a Will. The Trust is flexible and can be changed to another type of trust should personal circumstances or changes in legislation dictate.

Disabled Discretionary Trust


These Trusts are set up by parents or other relatives as a way of safeguarding the inheritance of a disabled child or relative. This ensures that the monies left to disabled beneficiaries by their parents are not eroded or set against any assessment or entitlement to state benefits.

It is usual for other siblings to be the alternative beneficiaries to these Trusts.


Long Term Care Planning


As an ageing population we should all think about making provision for later life and this includes the provision for long term care. We at Clarity Financial Solutions can help you think about all the problems you may face and come up with positive solutions.


What if I don’t need Care now?


Even if you do not need care now there are positive steps you should be making now. You should be making a Will and arranging a Lasting Power of Attorney whilst you are in a position to do so. You should also be thinking about the ownership of any property you hold. This is all part of the service Clarity Financial Solutions can offer you.


Lasting Power of Attorney (LPA)


We will arrange a property and financial affairs LPA; it will enable the people you appoint to make financial decisions on your behalf such as selling your house or managing your bank account if you become incapable of making these kind of decisions yourself – or do not wish to do so.

You should also consider whether to make a health and welfare LPA. This is for decisions about both health and personal welfare, such as where to live, day-to-day care or having medical treatment.

If you become unable to make decisions for yourself and you haven’t got an LPA, then your family will have to go through a lengthy legal process before they are lawfully entitled to act on your behalf.

In this situation, it would be the court that chooses who has the power to make decisions about your life.


Your Property


We will make sure you and your spouse (partner) own your property as tenants in common rather than a joint tenancy. This will allow you to make a Will, which means that when one partner dies, their share of the house goes to the beneficiaries named in their Will [often the children]. Otherwise, the deceased partner’s share of the property passes automatically to the partner in care where it will form part of the surviving partner’s assessable income and it will be used to fund any residential care they may need.


What if I think I do need Care now?


Then there are a number of things we will need to do and this can start immediately with things like checking your entitlement to benefit. Remember Clarity Wills will guide you through the entire process from start to finish, making sure everything is as easy and as simple as is possible.


Estate Planning


Everything that is owned by you is counted into what is called your ‘estate’. These include property, investments, insurance, any pension schemes you will benefit from and your personal affects including cars, jewellery, furniture and art.

The current Inheritance Tax exemption bracket called the ‘Nil Rate Band’ is £325,000.With careful estate planning it could be possible to reduce your Inheritance Tax bill or avoid it altogether. There are a number of ways to plan for this situation. The most effective way is a carefully constructed Will with various trusts addressing these tax liabilities. Life Assurance is also an effective solution; it will not reduce your tax bill but the proceeds will help in paying the outstanding tax.

If you have any questions or queries regarding Inheritance Tax and Estate Planning give your advisor a call and they will answer all your questions.