Important Matters
The Important Matters tab will allow you to expand on certain options of the quesionnaire. Each selection will behave differentlly, you may notice some new questions at the bottom of the page or a new tab on the left.
It consists of the following options:
Islamic Compliance
When you select this option you will see some new questions at the bottom of the page. This selection creates provisions that will pass the entire estate to surviving relates in the shares stated in the Qu'ran. You will also be given the option to distribute the estate directly or by using a discretionary trust.
You will also see the option to add a delcaration of faith to the document, and state the Imam whose school of though is to be followed - although these are completly optional.
Finally, you will see an option to change the Will heading to Islamic.
Inheritance Tax Considerations
This option will open a new tab on the left.
- Existence of Remarriage - State any previous Marriages or Civil Partnerships which may have ended in death. This will then ask if the former spouse has any unused NRB Allowance, if selected 'Yes' then you will see expanded options when gifting the NRB.
- Test the Availability of RNRB - This will expand the questionnaire with more options. When answered they will provide insight for the Clients RNRB Status.
- Extend options in Distribution to Protect RNRB - Selecting this option will give you more options in the distributions levels. You will be able to Split the Estate into two parts to protect the RNRB.
- IHT 10% Charity Legacy Relief - This question will give you two options, to add special clauses to pass 10% of the net estate or to leave general charitable bequests.
Business Farm or Literary interests
When this option has been selected, you will see a new question at the bottom of the page. Select 'Yes' to add new Business, Farm or Literary options in the distribution.
If you then go to the Distribution you will see an option to Add a Business or Agriculture gift. This section will allow you to make a few different gifts:
Gift of Business Interest:
- Business carried on as a Sole Traser
- Business carried on in Partnership
- Farming Business and Assets
- Shareholding
- Intellectual property
- Any business
Create a Business and Agricultural Property Relief Trust (BRP Trust)
- All qualifying business Assets
- Only such assets that are needed to avoid the payment of inheritance tax on death
You will have the option to leave the above gifts to Individuals, Groups, Percentage Shares or to Trustees.
Will to operate otherwise than worldwide
Selecting this option will add new questions at the bottom of the page. This will allow you to add a clause to the bottom of the document to state the operation of the Will. You will have the below options:
- Everywhere
- Only in United Kingdom
- Only in England and Wales
- Worldwide except stated countries - this will open a drop down and freetype box to allow you to select countries
Declare Domicile
New options will be added to the bottom of the page when this option is selected. If your client lives in another country, you will be given the option to state it in this section. Your selection will be added in a clause in the document.
EU Succession election
This option will add some new questions at the bottom of the page. Here you will be able to elect for English Law to apply to the succession of any property owned in any other EU country. You will see a dropdown and freetype box to include which companies are to be included. Your selection will be added to the document.
Mutual Wills
Selecting Mutual Wills will give you some new options at the bottom of the page. Here you can decide to make a few declaration about mutual Wills:
- Make no declaration
- Include a declaration that our Wills are NOT mutual
- Include a declaration that our Wills are mutual
If you select either of the bottom two options, a clause will be added to the document based on your selection.
Multi-part Wills
The final option in this section will enable the Multi-Will functionality in the distrbution. This will fundamentally change the way the document is to be drafted and interpreted. We only recommend this option for specific scenarios.
Multi-part wills allow you to create multiple levels of distribution in different parts, based on specific conditions.
When this has been turned on you should notice that the distribution on the left has been replaced with Mult-Part sections:
When you select one of these parts, you should the distributions of these parts expand in the tabs on the left:
In this tab you will also be greeted with a selection of options to specify the condition of that part:
Once you have specified this condition, you can go on to draft the levels of distribution of this part. Then when completed you can move on the next part, specify the condition and repeat the above steps. You can add as many parts and levels of distribution as necessary.
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