COMMENTARY OF YOUR CWT&T WILL

This is an overview of the clauses in your Will as prepared by Countrywide Tax & Trust Corporation Limited.

REVOCATION This clause revokes (cancels) any previous Wills (including any made in foreign countries) and declares that this Will is your last Will

APPOINTMENT OF EXECUTORS Appoints the people who are going to administer your estate on your death. The Executors' responsibilities are to:  locate and identify the assets and any liabilities of the estate,  deal with the administration of the estate according to law by collecting in these assets  locate the beneficiaries  apply to the Court for a grant of Probate of the Will. (Probate is a formal document that confirms the Executors and gives them permission to administer the estate)  make sure all claims and debts are received, assessed and paid if substantiated  arrange for the distribution of the estate in accordance with the terms of the Will.  prepare accounts  deal with taxation returns

Your Executors can appoint a professional such as Countrywide, to deal with your estates administration.

APPOINTMENT OF GUARDIANS Records your appointment of guardians for your minor children i.e. those under the age of majority – 18 years old

It should be noted that it is only possible to appoint a guardian to those children for whom the law regards you as having "parental responsibility" for. To be able to make an appointment you must be one of the following:

 either the mother or father of a child who were married to each other at the time of the child's birth  the child's mother whether or not she was married to the father at the time of the child's birth  the father of the child if he marries the natural mother.  the father of a child, born since December 2003, who was not married to the mother at the time of the child's birth but is named on the birth certificate  the father of a child who was not married to the mother at the time of the child's birth but who has been given parental responsibility by a valid parental responsibility agreement entered into with the child's mother  a person granted parental responsibility by a court  a properly appointed guardian.

By making a guardian appointment you cannot take away the rights of a person, surviving you, who also has parental responsibility for any child of yours.

CHATTELS Directs to a specific individual your personal chattels not already gifted. Personal chattels include personal items such as cars, jewellery and other household goods. It does not include, for example, houses, land, bank accounts, investments or businesses

LEGACY OF BUSINESS PROPERTY This clause directs your business assets applicable to Business Property Relief to your Business Family Trust(s)

LEGACY OF AGRICULTURAL PROPERTY This clause directs your agricultural assets applicable to Agricultural Property Relief to your APR Family Trust(s)

MONETARY LEGACIES Records that you have bequeathed a specific sum of money absolutely to a specified individual(s)

SPECIFIC LEGACIES Records that you have bequeathed a specific item absolutely to a specified individual(s)

ABSOLUTE PECUNIARY LEGACY – NIL RATE BAND Your assets up to the nil rate band are being directed in to your Family Trust

DEFINITION AND ADMINISTRATION OF MY ESTATE Defines what your estate means, including stating that the Will deals with all your assets wherever they may be, including abroad. This clause also defines any that debts on the estate must be paid before any further distributions are made. This includes any funeral costs. After the debts are repaid, the specific legacies are distributed and then the residue of the estate.

ABSOLUTE RESIDUARY GIFT This is the residue of your estate and any of your assets over the nil rate band are being directed to your Interest in Possession Family Trust

EXECUTOR POWERS States that your executors have the powers outlined in The Schedule of Administrative Powers

SURVIVORSHIP Any person that does not survive you for 28 days will be treated as having died before you. FOR THE AVOIDANCE OF DOUBT Adds some defining sentences to clarify the terms within the Will

THE SCHEDULE OF ADMINISTRATIVE POWERS Outlines the powers of the Executors, as defined by the Society of Trust and Estate Practitioners. Ask your adviser for the full version if you wish to have a copy of this.

REQUESTS AND WISHES EXCLUSIONS – You do not intend that the named individuals should receive any part of your estate on your death ORGANS – You have expressed a wish that your organs can be used for transplant FUNERAL – You have expressed a wish regarding how you would like your body to be treated after your death

TESTIMONIUM AND ATTESTATION It is essential that your Will is signed and witnessed correctly. Until it is signed and witnessed correctly it will not be valid.

If you are not storing your documents with Countrywide Tax & Trust Corporation Limited, or have not opted to utilise our Document Checking Service, it is important that you follow the signing procedure as set out in the accompanying instructions.

If once you have signed your Will, your address changes, or an address or name of a person you have referred to in your Will changes, it is not necessary, for that reason alone, to change your Will