Personal Touches Beyond Assets
Think of dinner-party guest lists, handwritten love letters, or secret family recipes. These aren’t the usual suspects when planning a will – yet more people are weaving them in.
- A favourite dress or keepsake for a best friend.
- A farewell video message to children or grandchildren.
- Instructions for scattering ashes in a cherished spot.
Wills are becoming heartfelt letters from beyond the grave.
The Risks of Dying Without One
- Your estate may be divided under intestacy laws- not your wishes.
- Loved ones face extra stress delays and costs.
- Sentimental items could be lost or disputed.
Around 29% of people with wills haven’t told anyone where they’re stored. (With GOTO, secure storage costs just £3 per month – clearly labelled on your bank statement so next of kin know who to contact).
Life changes fast: cohabiting, adopting a pet, starting a family. A will ensures your intentions are honoured, whatever tomorrow brings.
The Growing Trend
Conversations about death and legacy are no longer taboo. People increasingly protect traditional assets (homes, savings, pensions) and digital ones (cryptocurrency, social media accounts, online businesses).
Even without property, personal items carry huge emotional value.
One in four adults admits they don’t know how to write a will; others assume their estate is “too simple”to need one.
Every adult should have a will – yes, even a basic one.
What Makes a Will Legally Binding?
- Written and signed by you (the testator).
- Witnessed by two independent adults over 18 (not beneficiaries).
A once “morbid, laborious” task is now part of everyday financial wellbeing.
How to Write a Will
Key Steps
What to Do
1. List assets & liabilities
Property, bank accounts, pensions, insurance, personal belongings-include sentimental items.
2. Appoint an executor
Choose someone trustworthy (solicitor or family member); check potential fees
3. Name beneficiaries
Decide who gets what-family, friends charities. Appoint guardians for children under 18.
4. Record burial wishes
Burial, cremation, or family plot-spell it out.
5. Store securely
Keep the original safe; copies aren't legally valid. Without it, intestacy rules apply.
Setting Up A Trust
A trust is a legal arrangement where you (the settlor) transfer assets to a trusted person or entity (the trustee) to manage for the benefit of others (the beneficiaries)—often your children, spouse, or chosen causes. Unlike a will, a trust can take effect during your lifetime (a living trust) or after your death (via your will).
Trusts are powerful tools for:
- Protecting assets from care fees or bankruptcy
- Reducing Inheritance Tax (IHT)
- Controlling how and when beneficiaries receive money (e.g., at age 25)
- Supporting vulnerable loved ones (e.g., with disabilities)
- Keeping wealth in the family bloodline
How To Set Up A Trust
- 1. Decide your goals
- 2. Choose your trustees
- 3. Draft the trust deed
- 4. Transfer assets into the trust
- 5. Register the trust (if required)
- 6. Review regularly
- Tax saving? Asset protection? Control over inheritance?
- Speak to a solicitor or will specialist (like GoTo Wills) to match the right trust.
- Trusted individuals (family/friends) or professionals (solicitors).
- Minimum of 2 trustees recommended; avoid naming yourself as sole trustee.
- A legal document outlining:
- Who the settlor, trustees, and beneficiaries are
- What assets go in (cash, property, shares, life insurance, etc.)
- Powers of the trustees
- Conditions (e.g., “£10k at age 21, rest at 25”)
- Cash: Bank transfer
- Property: Change land registry title (TR1 form)
- Life insurance: Write policy in trust (free with most providers)
- Investments: Re-register in trustees’ names
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Since 2022, most UK trusts must register with HMRC’s Trust Registration Service (TRS) within 90 days of creation-even if no tax is due.
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Update for births, deaths, marriages, or tax law changes.
How GOTO Wills Can Help
We Offer:
- Free initial consultation to identify the right trust
- Fixed-fee trust drafting
- Trustee guidance pack for your appointees
- Secure storage (£3/month) with clear bank statement labelling
- HMRC registration handled for you
Next Steps
- Book a 15-minute call with a GOTO Wills advisor
- Bring a list of:
– Assets you want to protect
– Who should benefit
– Any tax or care concerns - We’ll recommend the best trust and handle the rest.
Don’t leave it to chance. A trust isn’t just for the wealthy-it’s peace of mind for your family.
Common Mistakes to Avoid
- Putting your home in trust after needing care (seen as “deprivation of assets”)
- Forgetting to register with HMRC → fines
- Naming only one trustee
- Not telling trustees where the deed is stored
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