Wills
Historically only about a third of us write Wills, so most people’s estates are disposed of according to the Rules of Intestacy which specify who gets what share of the assets. These rules do not always work in the way you might expect and can cause some complications for surviving spouses.
A professionally written Will, will give you peace of mind over the following:
- Appoint Executors who will administer your estate.
- Appoint Guardians to protect and nurture your children.
- Specify legacies or arrange a Memorandum of Wishes to gift mementoes.
- Monetary legacies you may wish to leave a sum to a charity or nominated beneficiaries.
- If you are a married couple or in a Civil Partnership you can protect your half share of your family home for your children but giving a life interest to your spouse or civil partner, ensuring it cannot be diverted to a subsequent spouse or civil partner or local authority for community care charges.
- Protect your partner if you are unmarried and not in a Civil Partnership as they may otherwise have to claim against your estate which can be expensive, distasteful and easily overcome with a Will.
- Make provision for your family and for children of previous marriages or relationships overriding the Rules of Intestacy and setting out your distribution, catering for contingencies for future births or deaths.
- Disabled Beneficiaries Trusts can be incorporated which will not compromise their state funded assistance.
- Business interests whether run by a Sole Trader or a Partnership or a Limited Company can be protected in a Will to deal with the issues of maintenance of the business through Probate.
- Funeral arrangements can also be set out in your Will.
The most important aspect of a Will is that it is personal to YOU and you are entitled to say whatever you want in it. Our job is to ensure that it complies with the law and where necessary is binding to what you intend should happen in any given circumstances.
Lasting Powers of Attorney
A Lasting Power of Attorney is a legal deed created whilst you are of sound mind to appoint one or more people as your attorneys (usually your spouse/partner or close relatives or adult children) to act on your behalf if you become unable to make decisions for yourself in future. The effect is to simplify the means of your attorney(s) obtaining the lawful authority from the Office of the public Guardian and to save on substantial court fees that are involved in the alternate route of the appointment of a Deputy to manage your affairs. A Lasting Power of Attorney can be created to deal with your property & financial affairs and a separate one to deal with your health & welfare. This is an important issue for anyone over the age of 18 who has personal assets.
Contact us today
For more information please contact us regarding writing your will.