A Will is a legal document that gives you the power to decide what should happen to your estate when you die. Your estate refers to your individual assets minus any liabilities. Whatever your age, if you have assets such as a house, savings or a business along with loved ones you would like to look after, it’s worth considering making a Will. It can also make the lives of those you leave behind a little less daunting at an extremely difficult time. A valid Will is vital to ensure you and your family have control over the money, property and possessions you have worked so hard for, after you have passed away.
A Lasting Power of Attorney will help you make sure that your wishes are followed if, for whatever reason, you’re no longer able to make your own decisions or tell people what they are. Whether it’s making temporary arrangements to pay bills whilst you’re in hospital or appointing someone you trust to manage your affairs for the long term, an LPA is an invaluable tool to ensure your interests are managed by people you trust. By taking professional advice you can ensure your LPA is correctly drafted to ensure successful registration with the Office of Public Guardian which must be completed before an LPA can be used.
Trusts are commonly used to provide for children under the age of 18, to protect property or to take care of vulnerable loved ones. Trusts can allow you to pass on your property or other assets to your loved ones with clear terms and assurance that those you wish to benefit actually do so. A trust exists when two or more people (Trustees) look after property or other assets for the benefit of one or more other people (Beneficiaries).
Probate is the term commonly used to describe the process of finalizing the affairs of someone after they have died. The Grant of Probate is the legal document obtained when there is a Will for the executors to deal with the estate of the person who has passed away. Bereavement is a painful process and dealing with the formalities of someone’s affairs can seem daunting. We can help you navigate this difficult time.