Jewellery and gold in your Will

Some cultures have a tendency to keep significant quantities of jewellery and gold in the family.

If you want the destination of your pieces to be legally binding when you die, they must be included in your Will.

However, you may take the view that you want to be more flexible over the years, as you acquire more pieces, or your family develops and expands and you acquire more daughters in law. A Letter of Wishes allows you to be really clear about where pieces or categories of item should pass on your death, though you need to be able to rely upon your executors to follow your instructions.

Some people see the Letter of Wishes as an opportunity to keep assets out of your estate. However, dealing with items in a private letter, doesn’t excuse your executors from declaring all your assets and their values on your death. It simply means that you can update your letter from time to time in your lifetime, without paying a professional to update your formal Will.

If you would like to chat through your situation with Jane, please call 01727 840 240 or drop her a line at Jane@jcwillsandprobate.co.uk and work out what’s most appropriate for you.