0800 610 2301 [email protected]

Services

Will Writing

Do I need a will?

The short answer is yes. Writing a valid Will is the only way you ensure that your wishes are carried out and your loved ones are provided for after your death. Also, passing without a Will may cause your family the distress of resolving legal problems as well as the stress of losing a loved one.
A properly drafted Will, not only ensures that people receive what you would like them to, but can secure your children’s futures and potentially reduce inheritance tax liabilities.

  • When there is no will, the Government decides who gets what from your wealth. A spouse or civil partner is first in line but won’t necessarily receive everything.
  • If there are no relatives, the estate passes to the Crown, these rules are known as the laws of intestacy.
  • Prevent certain family members from benefiting from your estate. This can ONLY be achieved by writing a Will.
  • Appoint a guardian/s to look after your children if you die, otherwise social services might intervene to decide who should care for them if both parents die.
  • IHT, A Professionally drafted Will could save thousands of pounds in tax in the future, as well as other future liabilities.
  • Appoint people you trust and who you know will be capable of winding up your estate to act as your executors
  • Save your family time and money as it’s far quicker and cheaper to administer an estate where there is a Will than without one
  • Unmarried couples are not even protected by the laws of intestacy. If one partner dies without a valid Will, the other stands to inherit nothing.

Lasting Power of Attorney

In the event that you became incapacitated whether it be due to serious illness or injury, who would you want looking after your property, finances and your welfare including life sustaining decisions?

Your family or simply the Local Authorities?

  • Without a Lasting Power of Attorney (LPA) in place, if you lose capacity your family would need to apply to the Court of Protection, which is a time-consuming and costly process.
  • You need to create a Lasting Power of Attorney (LPA) BEFORE you become incapacitated.
  • An LPA in place is a fundamental step in safeguarding your family’s future and is just as important as a Will.
  • A lasting power of attorney (LPA) is a legal document that lets you (the ‘donor’) appoint one or more people (known as ‘attorneys’) to help you make decisions or to make decisions on your behalf.
  • You must be 18 or over and have mental capacity (the ability to make your own decisions) when you make your LPA.
  • You don’t need to live in the UK or be a British citizen.
  • Not Just for the Elderly.
  • There are 2 types of LPA, Health and Welfare, Property and Financial affairs and you can choose to make one type or both.

WHY YOU SHOULD PUT AN LPA IN PLACE NOW

 An LPA allows you to plan in advance

Without a Lasting Power of Attorney, your loved ones will find it very difficult to manage your financial affairs as they will not have legal authority to do so.

A Health & Welfare LPA allows your Attorneys to make decisions regarding your personal welfare, and any medical treatment that you may need, on your behalf.

A Health & Welfare LPA offers peace of mind by allowing you to legally appoint people that you trust to make decisions on your behalf. It allows you to discuss in advance your preferences regarding your care and treatment should you lose mental capacity.

Once a LPA has been registered, your Attorneys can only make decisions for you when you lack mental capacity to make decisions yourself.

Your Attorneys will be able to make decisions such as:

Your day-to-day activities like your diet, dress, or daily routine.
The kind of accommodation best suited for your needs such as whether to stay in your home with support from social services or move into residential or other care outside your home
Giving or refusing consent to particular types of health care, including medical treatment decisions

If you have already made an Enduring Power of Attorney (before October 2007), it is still valid, but does not allow your Attorneys to make decisions about your health and welfare.

It is important to remember that for a Lasting Power of Attorney to be effective, it must be registered with The Office of Public Guardian. Your Attorneys can only act on your behalf once the LPA has been registered. If it is a Health & Welfare LPA, then they can only act once the LPA has been registered and you have lost mental capacity. You will continue to make decisions until you begin to lack capacity to do so.

IN SUMMARY

  • Give control to your loved ones.
  • Intrust your family with your assets.
  • Eliminate unnecessary emotional stress.
  • Ensure your Attorney can access accounts.
  • Your Attorney can make financial and medical decisions on your behalf and not the Authorities.
  • An LPA is legally binding.
  • Save thousands making a retrospective court application, post the loss of mental capacity.

Trusts

Trusts are a way of managing assets (money, investments, land or buildings) for people. A Trust means that you leave your assets to people you trust (your trustees), who look after them for the people you choose to inherit (your beneficiaries). This means that your beneficiaries can benefit from your estate without actually owning the assets themselves.

What trusts are for

Trusts are set up for a number of reasons, including:

  • To control and protect family assets
  • Minors – when someone’s too young to handle their affairs
  • Disabled or Vulnerable – when someone can’t handle their affairs because they’re incapacitated or Vulnerable.
  • Property – to ensure property passes to loved ones and is protected from third party attack such as remarriage or Local Authorities (providing it is not a deliberate deprivation of assets)

These types of arrangements are very popular. However, we would advise that you seek professional advice to put yours in place. Please contact us today for more information.

Full Estate Administration

When an individual makes a Will they will name an Executor(s) who, upon their death will take over as administrators for the Estate.

This typically involves collecting up all the money, property, possessions and other assets, paying off any debts and inheritance tax, and distributing the estate to the beneficiaries.

  • The role of an Executor is a legally binding.
  • A lifetime liability, both legally and financially for all actions undertaken.
  • The role is varied dependable of the assets of the deceased, no two Estates are ever the same.
  • A grant for probate application, dealing with HMRC, calculating the value of the estate, completing court papers and inheritance tax forms.
  • A valuation is required on all assets and liabilities of the estate.
  • Different assets may need to be valued in different ways. Professional valuations are often recommended.
  • All assets are required to be reinsured by the Executor.
  • The Executors are liable for debts and taxes before distributing the estate.

This Role should not be taken lightly or half-heartedly, it is complex and time consuming and can be incredibly daunting for most.

For most executors this all comes at a time of emotional distress.

Legal Planning Solutions are able to offer an Estate administration service to those who would prefer to pass responsibilities over to the professionals to deal with when the time comes.
For more information on our Full Estate Administration service please call us on our dedicated probate line: 0800 610 2301

Secure Document Storage

Your Will is one of the most important documents you will ever write and, the probate registry will accept the original only.
A Will is a legal document and therefore there are legal implications should it be misplaced. If a previous Will is found then this can be exercised.
If NO WILL can be found then you have died intestate.
It is incredibly important that your executors know exactly where it is stored.

WHY STORE YOUR WILL?

Benefits of our storage solution…

  • Peace of mind. All Wills are kept safe in our climate controlled, fire proof facility
  • Removes any unnecessary stress and burden from your family should intestacy apply
  • Executors, family members/friends are given our details so that they know who to contact when the time comes
  • Clients who store their Wills with us are entitled to free updates*
  • House deeds lodged at no extra charge
  • Your Will is registered
  • Protected against being damaged, defaced or simply slipping into the wrong hands of someone who will maybe have a possible claim under the Laws of intestacy.

To discuss our storage solution further please do not hesitate to get in touch.

*terms and conditions apply

Address

Legal Planning Solutions Ltd
Ferneberga House
Alexandra Road
Farnborough
GU14 6DQ

Contact Info

0800 610 2301

[email protected]

Business Hours

Monday to Friday: 8.30 - 18:00

Copyright © Legal Planning Solutions 2017. All rights reserved. Privacy Policy
Registered Office: Ferneberga House, Alexandra Rd, Farnborough GU14 6DQ
Registered in England No. 10712846
Authorised and Regulated by the Financial Conduct Authority FRN: 780418