Last Will and Testament

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1.5.51 Last Will and Testament:

1. In compliance with military and active duty provisions, all personnel shall complete their Last Will and Testament as part of commencing their duties. Compliance with UK laws including Inheritance (Provision for Family and Dependents) Act 1975 is mandated. This demands that a person shall make "reasonable financial provision" for their dependents including all their children and dependents. It would be illegal to write a child out of a Will - reasonable provision is a legal requirement.

2. A person shall prepare a new Will in the event of any substantial change in their circumstances to reflect any change in marital status, children or dependents. While a Will could be legally changed with a codicil, but it is far easier and more effective to create a new Will to replace all previous Wills.

3. Every Will shall consider and be in full understanding that the laws of the UK operate by Rules of Intestacy that assigns:-

(1) The partner keeps all assets up to two-hundred-and-fifty-thousand (250000) pounds and all personal possessions regardless of value.

(2) The partner gets half of the remainder of the estate.

(3) The other half is divided equally between all the children, or to their children in the place of a child who has died.

4. It is noted that any Will that substantially changes these legal provisions may be contested to ensure that the rights of the children are reasonably provided.

5. Every Will shall be signed and witnessed by two independent witnesses who must sign the Will so all are present at the same time. A mirror pair of Wills for partners is recommended. Joint-Tenancy of properties is recommended.

6. It is an objective to make the Will as simple as possible, to minimise the number of people involved and to exclude avoidable administrative expense. Beneficiaries can be advised to distribute goods and cash with consideration of the deceased wishes but free of legal obligations. To gift a legacy of a favourite piece of Jewellery to a named person invites dissent with high administration costs that exceed the price of the jewellery.

7. A Will can be a very simple document where the only complication to get right is the signature procedure. Good financial planning is a neutral balance between assets and liabilities that cause a Will to be of negligible importance.

1 Example of Simplicity:

1. I give my estate to my Executors to hold on trust to pay my debts, taxes and testamentary expenses and pay the residue in equal shares to my children (provide names). Where any child of mine does not survive me, then their share of my estate shall be paid to the spouse or partner of that child of mine. Where any child of mine and their partner does not survive me, then their share of my estate shall be divided equally between that childs children, adopted children, foster children, step children and dependents who are treated as my grand children. Where no grand children as the child of a child of mine survive, then my estate shall be divided into equal shares for the remaining living children and deceased children who have living children as grand children.

2. My estate shall include my property with a negative mortgage that after sale may have a trivial positive value.

3. My estate shall include my vehicle with overdue repair and service bills that after sale may have a trivial positive value.

4. My estate shall include my possessions with commercial waste charges and recycling that may be cleared with a trivial charge.

5. By design, financial planning should balance assets with liabilities, leaving a little positive residue to pay for a cheap funeral that I will not attend.

2 Prelude:

1. I, ... presently of ..., England hereby revoke all former testamentary dispositions made by me and declare this to be my Last Will and Testament dated .... Compliance with UK laws including Inheritance (Provision for Family and Dependents) Act 1975 is mandated.

2. Preliminary Declarations: I revoke all prior Wills and Codicils.

3. Marital Status:

I am married to ....

4. Children and Grand-Children:

I have the following children and grand-children ....

3 Executor:

1. The expression "my Executor" used throughout this will includes either the singular or plural number or the masculine or Feminine gender as appropriate whatever the fact or context requires. The term "executor" in this Will is synonymous with and includes the term "executrix" and "personal representative".

2. I appoint my partner .... as my Executor of this my Will. If ... should predecease me, or shall refuse or be unable to act or continue to act as my Executor, then I appoint ... as the sole Executor of this my Will. If ... should predecease me, or shall refuse or be unable to act or continue to act as my Executor, then I appoint ... as the sole Executor of this my Will. If ... should predecease me, or shall refuse or be unable to act or continue to act as my Executor, then I appoint ... as the sole Executor of this my Will. If ... should predecease me, or shall refuse or be unable to act or continue to act as my Executor, then I appoint ... as the sole Executor of this my Will.

3. My Executor is not required to post a bond and shall serve without a bond. No time duration is imposed on my Executor however best endeavours shall be used to resolve the process within one-hundred years.

4 Powers of my Executor:

1. I give and appoint my Executor the following duties and powers with respect to my estate.

2. To pay any legally enforceable debts, funeral expenses and all expenses in connection with the administration of my estate and the trusts created by my will as soon as convenient after my death, except for any debt secured by real or personl property which is to be assumed by the recipient of such property.

3. To take all legal actions to have the probate of my will completed when they choose and simple as possible and as free as possible from any court supervision.

4. To retain, exchange or dispose of any personal property without liability for loss or depreciation.

5. To invest, lease, rent, exchange, mortgage, sell, dispose of or give options without being limited as to term, any and all real property belonging to my estate and to insure, repair, improve, add to, remove from or demolish or otherwise deal with real properties as my Executor dreams advisable without liability for loss or depreciation.

6. To purchase, maintain, convert and liquidate investments or securities and to exercise voting rights in connection with any shareholding or exercise any option concerning any investment or securities.

7. To open and close bank account and trading accounts that act like bank accounts.

8. To maintain, continue, dissolve, change or sell any business which is part of my Estate or to purchase any business if deemed necessary or beneficial to my estate by my Executor.

9. To maintain, settle, abandon, make a claim against or defend or otherwise deal with any claims or actions against my estate.

10. To employ any solicitor, accountant or professional that the Executor deems to be of benefit.

11. The above authority and powers granted to my Executor are in addition to any powers and elective rights conferred by statute or common law or by other provisions of this Will and may be executed as often as required and without application to or approval by any court.

4b Bequests:

1. As a policy, no bequests shall be entertained. Electronic goods and data shall be professionally destroyed, recycled and repurposed by those who known what to do and have the ability to do it. All companies are to be dissolved with minimum accounts. No company has any resale value, no company has any assets and no company has any liabilities.

5 Distribution of Estate Residue:

1. To receive any gift or property under this will a beneficiary must survive me by thirty (30) days. Beneficiaries of my estate residue will receive and share all of my property and assets not specifically bequeathed or otherwise required for the payment of any debt owed, including but not limited to, expenses associated with the probate of my Will, the payment of taxes, funeral expenses or any other expenses resulting from the administration of my Will. The entire estate residue is to divided between my designated beneficiaries with the beneficiaries receiving a share of the entire estate residue. All property given under this will is subject to any encumbrances or liens attached to the property.

2. The entire residue of my estate will be transferred to my spouse, if my spouse survives me by thirty (30) days for their own use absolutely.

3. If my spouse is not living on the thirtieth day following my death, I direct my Executor to divide the residue of my estate into as many shares as there shall be children of mine as listed in this Will. Each surviving child of mine shall receive one share of my estate residue, subject to the provisions specified. If any child of mine shall die before becoming entitled under this Will, but where that child of mine has children of their own, then that childs share shall be divided equally between my childs children.

4. Where a child of mine has died and their children have died or cannot be traced by my Executor then my estate shall be divided into equal shares as if that child did not exist.

6 Wipe out:

1. Should my spouse predecease me or fail to survive for thirty days and should I leave no surviving children or grandchildren or grandchild before they become entitled to receive the whole of their share of my estate, then I hereby direct that the residue of my estate or the amount remaining shall be divided and shared as follows:-

2. My estate shall be divided in equal shares and paid to each surviving grandchild, great-grandchild or great-great-grandchild as they may be in anyway be blood related and including children of the spouse of the children of mine and their children.

7 People Omitted from my Will:

1. No child has been omitted because that could be illegal where a child was not reasonably provided for.

2. Grand-children have been named as beneficiaries in the event that a child of mine has died and that childs share of my estate shall be divided equally between the surviving grand-children or great-grand children.

3. Gifts of money and/or possessions may be transferred by the named major beneficiaries to minor beneficiaries in accordance with my wishes, but with no legal requirement.

4. No children of mine is under the age of majority and so no provision is needed for minors.

8 General Provisions:

1. If any beneficiary under my Will contests in any court any of the provisions of this Will, then each and all such persons shall not be entitled to any benefits under this will and such interest or share in my estate shall be disposed of as if that contesting beneficiary had not survived me.

2. If any provisions of my will are deemed unenforceable the remaining provisions shall remain in full force and effect.

9 Critical Signature Ritual:

1. I ... the within named testator have this my last Will contained in this and the preceding pages, set my hand in the town of Watford, England this first day of January 2017, I declare that this instrument is my last Will that I am of the legal age in this jurisdiction to make a Will, that I am under no constraint or undue influence and that I sign this Will freely and voluntarily.

2. Signature, First day of January 2017, Watford, England.

3. This instrument was signed on the above written date by ... and in our presence they declared this instrument to be their last Will. At their request and in their presence and in the presence of each other, we subscribe our names as witnesses hereto. Each of us observing the signing of this will by .... and by each other subscribing we witness and affirm that each signature is the true signature of the person whose name was signed. Each of us is now the age of majority, a competent witness and resides at the address set forth after our names.

4. To the best of our knowledge, the Testator is of the age of majority or otherwise legally empowered to make a Will, is mentally competent and under no constraint or undue influence. We declare under penalty of perjury under the laws of the United Kingdom of Great Britain and Northern Ireland that the foregoing is true and correct this first day of January 2017 at Watford, England.

5. Signed by ... in our presence and then by use in their presence.

6. Signature, Name, Address, Watford, England.

7. Signature, Name, Address, Watford, England.

Services Provided:

1. The company have a duty of care and people have a duty to minimise the impact on loved ones at their end of life.

2. Providing a simple and effective Will (Last Will and Testament) with estate planning is a minimum duty on all people at all ages. Eliminate gifts because the administration cost is far to high. If you wish to give a friend 1000 pounds, do so in life without the legal overhead. Eliminate codasyls and alterations - a new will can be a one page paragraph signed in front of any two independent witnesses. Where the beneficiaries are the executors, then legal costs are minimised and nobody else exists to complain about how things are handled.

3. Assigning a Power of Attorney for finance and health is mandatory to keep things simple and minimise administration cost. This costs just over 100 pounds, but simplifies all dealings with banks, share holdings and investments.

4. Probate and estate management can be planned in detail so when it is needed, everything is fully prepared without any issues to be resolved - legal costs can be eliminated. The probate form must be kept up to date with annual gifts beign recorded for seven years. Significant household assets must be appraised every year to determine the typical second-hand sales value - how can it be sold or must it be cleared as commercial waste. The cost of transport normally exceeds the value of most large household assets - most household things are a liability that have a charge to have them removed.

5. Inheritance tax is done according to strict rules that leave no room for legal interpretation - plan in detail to pay the applicable taxes and only the applicable taxes without any legal overheads. Do not trust the person who says that tax can be fiddled - when you are dead, you cannot sue the fraudster for not planning your tax matters correctly. Do understand that inheritance tax allowances from more than one person may be applicable - the 325000 threshold may be a 650000 threshold when two parents are dead.

6. Wealth structuring and asset protection may be a grey area that can be avoided by acting and planning in an open and transparent way, what assets can be put in trust or transfered seven years before end of life. If a back door to asset protection existed, then everybody would know about it and the Government would have shut it down - do not look for back doors or avoidance schemes.

7. Trust creation and management is an expensive way to manage assets worth many millions, but may not a cost effective way to manage a normal residential home. Trusts pay taxes and those taxes will exceed personal tax rates with personal allowances. An overseas trust may cost more in administration and risk than the savings to be made.

8. Equity release is a very effective way to bring down the value of a property by having an mortgage to the value that exceeds the applicable inherentance tax threshold. Cash from equity release may be ploughed into companies as investments that are worth shares where private shares cannot be traded. Investments in companies that own property may provide benefits to loved ones that are not taxed and are not treated as taxable gifts.

9. People have a digital existence that must be administered, but this is only practical where passwords and access codes are available to the executors. A persons wishes can be documented and the executors may or may not carry out such wishes.

10. Care home costs and in-house social care costs must be factored in because one-third of people develop signs of dementa. Full care home costs begin at 800 to 1000 pounds per week - provision for index-linked 50,000 pounds per year to be spent on a care home must be factored into end of life planning. Social care in the home, with shopping, laundry, dressing, meals and medication may be two care workers for one hour four times a day - 8 hours per day at 18 pounds per hour is 50,000 pounds per year.

Costs:

1. End of life can be expensive, but detailed planning can cut things down to is reasonable.

2. Funeral costs have increased because when people are grieving they may be duped into buying all kinds of extras. A persons wishes can be documented and the executors may or may not carry out such wishes.

3. Social care is about 50,000 pounds per year per person, depending on the level of care needed.

4. The company can pay for free meals and accommodation, so the company can at least help people to plan for end of life - a job for life.

Identity Proofing Verification: (IPV)

1. It is quite hard for a person to prove who they are and prove they are not an imposter. A name and address are publicly known information, as to are date of birth, date of marriage and a raft of other information disclosed to social media. The following list are identity factors that may be the minimum mandated identity information:

* Names: HMG may assume that only one formal name exists.

* Postal addresses: for the past three years.

* Birth certificate: date of birth: place born.

* Marriage certificate: date married: place married.

* National Insurance number.

* UTR: tax reference.

* Employer tax reference number.

* Email addresses, twitter account, facebook account, linkedin account.

* Mothers maiden name.

* Fixed line telephone provider account.

* Mobile phone provider account.

* Internet service provider account.

* TV cable provider account.

* Gas service provider account.

* Electric service provider account.

* Solar Generator feed-in-tariff service account.

* Domain service provider account.

* Education service qualification.

* Building insurance service provider account.

* Content insurance service provider account.

* Land Registry Property ownership or rental evidence.

* Company House ownership PSC, annual return and payment evidence.

* HMRC Company annual return and CT payment evidence.

* HMRC VAT payment responsibility evidence.

* DVLA Driving licence evidence.

* DVLA Vehicle ownership evidence.

* Vehicle insurance service provider account.

* HMG Passport evidence.

* Travel insurance service provider account.

* Bank current accounts.

* Bank saving accounts.

* Credit Card accounts.

* Store Card accounts.

2. Evidence needs to prove both current existence and historical existence of these factors. For example: a fixed line telephone provider account that has existed for more than three-years.

3. Equifax and Experian are credit agencies that collate banking details based on some fine print in banking terms and conditions. Credit card numbers and monthly payment transactions are recorded - your right to be forgotten may exclude this information while you have a credit card and bank account. Banks have a legal obligation to prevent money laudering and credit agencies are a means to comply with the law by identifying each person with a bank account. In practice, credit agencies have a tiny amount of financial information and may not be able to identify every person - without a proven identity, a person cannot have a bank account or credit card.

4. In the good old days, a regular utility bill was evidence of identity, but with online billing, the regular utility bill no longer exists. In the good old days, a monthly bank statement was evidence of identity, but with online accounts, the monthly bank statement no longer exists.

Agenda:

1. Last Will and Testament. Two Executors. Probate Plan.

2. Bequests to others.

3. Lasting Power of Attorney. Court of Protection.

4. Trust Fund. Joint Executors.

Simplicity means it is easy for all parties to comprehend and legal fees are eliminated.

1. Last Will and Testament:

1. This is the Last Will and Testament of me __NAME__ of __ADDRESS__ England made this day of __DAY__ September 2018; and I hereby revoke all former Wills Codicils and other testamentary instruments made by me and declare this to be my last Will; in compliance with UK laws including Inheritance (Provision for Family and Dependents) Act 1975.

2. Preliminary Declarations: I am a widow. I have __NUMBER__ children as __NAME__ of __ADDRESS__ and __NAME__ of __ADDRESS__.

3. I appoint my __NUMBER__ children named above as joint Executors of this my Will. My Executors are not required to post a bond and shall serve without a bond. I direct my Executors to pay all legally enforceable debts, funera; expenses and all expenses in connection with the administration of my estate and the trusts created by my Will as soon as convenient after my death. I direct my Executors take all legal actions to have the probate of my will completed when they choose and as simply as possible and as free as possible from any court supervision. I direct my Executors to retain, exchange or dispose of any personal property with limited liability for loss or depreciation. I direct my Executors to open and close bank accounts, delete electronic records and destroy paper records on my behalf. The above authority and powers granted to my Executors are in addition to any powers and elective rights conferred by statute or common law or by other provisions of this Will and may be executed as often as required and without application to or approval by any court.

4. The entire estate residue after payment of all probate costs shall be divided equally between my two children named above in my Will. Where a child of mine does not survive me, then that share shall be paid to that childs spouse or children in equal amounts.

5. General Declarations: My Will does not declare any bequests because my Executors have the right to make bequests as applicable. My Will does not make provisions for payments to children under the age of 18 years because my Executors have the right to make such provisions as applicable. If any beneficiary under my Will contests in any court of the provisions of my will, then each and all such persons shall not be entitles to any benefits under this Will and such a share in my estate shall be disposed of as it that contesting beneficiary had not survived me. If any provisions of my Will are deemed unenforceable the remaining provisions shall remain in full force and effect.

6. I __NAME___ the within named testator have this my last Will contained in this document and set my hand in the town of Hartlepool, England on this __DAY__ September 2018; I declare that this instrument is my Last will and Testament, that I am of legal age in this Jurisdiction to make a Will, that I am under no constraint or undue influence and that I sign this Will freely and voluntarily.

__ SIGNED__

7. This instrument was signed on the above written date by __NAME__ and in our presence they declared this instrument to be their last Will. At their request and in their presence and in the presence of each other, we subscribe our names as witnesses hereto. Each of us observing the signing of this Will by __NAME__ and by each other sibscribing we witnesses affirm that each signature is the true signature of the person whose name was signed. Each of us is not th age of majority, a competent witness and resides as the address set forth after our names. To the best of our knowledge, the Testator is of the age of majority or otherwise legally empowered to make a will, is mentally competent and under no constraint or undue influence. We declare under penalty of perjury under laws of the England that the foregoing is true and correct this __DAY__ September 2018 at Hartlepool England.

__ SIGNED__ __NAME AND ADDRESS

{the only hard part of any Will is finding two independent witnesses who are not family}

2. Bequests:

1. £200 to My Charity (__TOWN__) with formal letter.

2. £200 to My Club (__TOWN__) with formal letter.

3. £200 to My Association (__TOWN__) with formal letter.

3. Lasting Power of Attorney (Finance):

1. The LPA can be signed but registration costing about £120 may be delayed until needed.

2. LPA ensures that bank accounts cannot be raided by Social Services and other agencies when a person is in hospital.

3. When a person cannot physically get to a Bank, it enables their Executor to act on their behalf.

4. An LPA may never need to be registered, its like insurance, only used in an emergency when needed.

5. The LPA uses the Court of Protection to ensure a person cannot be made to be financially responsible for social care administration fees.

4. Trust Fund:

1. A bespoke trust fund is established with two joint Executors to manage the __NAME__ Foundation.

2. The trust fund has an objective to maintain an accurate statement of how much, where and how to access savings accounts.

3. The trust fund shall be fragmented into many modest savings accounts that cannot be stolen by a loan imposed by an agency.

4. The __NAME__ Foundation has an objective to survive its joint Executors in the longer term.

The establishment of this trust fund with its own unique savings bank accounts may be given priority over all other issues because probate must declare donations over seven years.

5. Funeral:

1. Wake with readings at local Club.

2. University Donation - weekdays: Doctors certification and Crematory fees.

3. Normal Cremation or memorial service - typically four thousand pounds.

4. Blue House Woodland Burial, Hart Village. 800+300+coffin

Scenario:

1. A person dies - what happens next.

2. The children are informed, the coroner is infomed and a death certificate is signed. Nobody has a requirement to inform any and every solicitor.

3. If the chidren have the persons Will, then they can apply for a "grant of probate" by the executors names in the Will.

4. If a Will does not exist or the Will is not legally valid, the person is said to have died intestate and the children can apply to the probate court to be the executors with "Letters of Administration".

5. UK law in England is very simple: the estate is shared equally between the children or the childrens dependents.

6. Inheritance tax is payable to HMRC on estates valued at more than 325 thousand pounds or 650 thousand pounds if the persons partner died less than 10 years earlier - inheritance tax is 40% of the amount in excess of the threshold.

7. Probate is a simple adding up task to value the estate and report to HMRC using the applicable form.

8. The only slow part is waiting for banks and pension company to respond to probate requests for a statement, for standing orders and direct debits to be cancelled and the right to transfer funds - a copy of the death certificate is required in each case. This can be much easier with a signed Lasting Power of Attorney, but that costs more than one hundred pounds.

9. Cancel insurances, energy, phone, rent; clear the property; sell the vehicle; organise the funeral - a lot of simple tasks that do not require any legal advice.