Wills And Inheritance Planning
It is, of course, important to consider what will become of your wealth and assets after you pass away. Many people have the intention to draw up, or update, their Will but never get around to it.
A quick call to Solicitor Direct will take this weight off your mind.
We are able to produce a Will for you over the phone with the minimum of fuss and time, for a very competitive cost. You also have the peace of mind that you are dealing with a Professional and experience service.
Below are some things that we think you should consider when you want to make a will:
1 - Should you die without a will, there are certain rules which dictate how your estate (that is money, property and personal items) should be allocated. This may not be the way that when alive you would have wished them to be distributed. A Will makes sure any gifts go to the people, or organizations you want.
2 – You will be able to leave money to your favourite Charity, tax free.
3 – Unmarried cohabiting couples (whether they are the same sex or not) will not usually inherit from each other unless there is a will, so the death of one partner may create serious financial problems for the remaining partner.
4 - Married couples with children under 18 should also consider what arrangements they want to make if either one or both of them die. You can appoint one or more individuals to act as guardian(s) for your children.
5 - Unmarried couples with children under 18 should also consider what arrangements they want to make if either one or both of them die. It is even more important for unmarried couples to make provision for their children.
6 – It may be possible to reduce the amount of tax payable on any inheritance.
7 - If you have a Will make sure it is up to date, as you may need to alter it. If you would like to know how to make a will please just contact us and we will talk you through the process. Will making does not have to be difficult and we shall give you the information and legal advice you need.
Lasting Power of Attorney (“LPA”)
Since October 2008 the enduring power of attorney (EPA) has been replaced with the Lasting Power of Attorney.
An LPA allows you to nominate a person or people (referred to as Attorneys) to make decisions on your behalf should you reach a state where you no longer have the mental capacity to make certain decisions. Lasting Power of Attorney can be divided into two groups, one that relates to your financial well being and one which refers to your health care and general welfare.
- Financial: allows the person nominated as the Attorney to make decisions relating to bank accounts, payment of bills, sale of property etc.
- Health care : allows the person nominated as the Attorney to make decisions relating to the use or refusal of treatment, along with the general health and welfare
In addition you can execute an Advance Directive which allows you tell your Doctor that you do not wish to have a particular form of treatment.
These are an ESSENTIAL PART OF THE WILL MAKING PROCESS.
Unfortunately LPA’s are more complicated than EPA’s. They have to be registered at once, for a fee, and include provision for a Solicitor’s certificate confirming mental ability.
However Solicitor Direct has the experience and up to date technology to be able to offer you a swift, and competitively prices service. Click on our “Instant Quote” tab for further details on costs.
If you require further information just give us a call, or fill in the “Call Back” request.