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 £90 for a single person and £135 (less than £70 each) for a couple, but is included with a Family Trust Will, which is in turn included with our Testamentary, Intermediate and Comprehensive Estate Plans.
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"I am a retired divorcee with a complicated family situation. Allowing my estate to be distributed in line with to the intestacy rules when I am gone would not have been a fair reflection of my wishes, so I knew it was vital that I make a will. I wanted to ensure that particular members of my family were provided for. I also have a child who is self-employed, and I was worried about providing for her in case her business failed and her inheritance was seized by the Insolvency Service. Will Written have created an estate plan for me that places my assets into a trust when I am gone, so that the trustees can manage my assets and keep them in the family."