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Making it Clear

Making it Clear

Memorandum of Wishes

Memorandum of wishes

A Memorandum of Wishes is a confidential document which accompanies your will. It has three main uses:

  • With a Traditional Will, it is normally used to set out detailed instructions about your personal belongings and jewellery, specifying which items should be given to whom.
  • With a Family Trust Will, its function is to give your Trustees more detailed instructions about how you want them to take care of your assets for your Beneficiaries. Often, it will tell them that, if you are the first to die, you want them to treat your spouse as the main or sole beneficiary for the rest of his or her life, and that you then want them to treat the next generations equally, in turns, as far as possible.
  • With a will drafted in accordance with Muslim traditions, it tells your executors how you want them to share out your assets, if you want them to vary the Muslim rules of succession.

The cost of a Memorandum of Wishes is £110for a single person and £165for a couple, but is included with a Family Trust Will.

"We decided to seek advice about estate planning because we wanted to understand how to efficiently protect our assets and pass them safely to our children and grandchildren. We also wanted to put as much help in place for our family as possible, so as to make things as easy as possible for them when the time comes. We liked Gina’s patient and diligent manner in answering our questions and guiding us to the right solutions. Gina explained everything to us with great clarity, making concepts we were unfamiliar with accessible and clear. We particularly liked the fact that Gina came to see us in our own home without our having to make a special request; this is just the way she works. It was so much easier for us to relax and talk freely in the comfort and privacy of our home. Having put the right estate plan in place we feel that we have ticked a big box. This was something we knew we had to get round to. Now it is done and sorted and we don't have to worry about it anymore. We have also gained a clear understanding of the measures that have been put in place and why they are important. "

Matt & Betty R

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