Getting a Will is important
Wills and Probate
Wills and Probates
Never too early
Whilst the thought of drawing up a will or Power of Attorney may seem daunting, it is the best way to protect the interests of your loved ones in the event that something happens to you.
It is never too early to make a will or Power of Attorney in UK, especially where you own or are in possession of valuable assets, shares and family heirlooms.
Through a will you can decide who will receive what part of your estate which will be administered by the executor of your will via the probate process.
What's a Will?
A WILL is a legal document that dictates your wishes regarding the distribution of your belongings and any of your duties once you have died.
What's a Probate?
A PROBATE is the term given to the entire process of carrying out the execution of the WILL with the correct legal authority and documentation.
What is a Trust?
A TRUST is the managing of assets both finaincial and non-financial (money, investments, land or buildings) for individuals or organisations.
helping you for your future
Wills & Power of Attorney
A Will can dictate who gets What
Many people do not understand the consequences of failing to make a will nor the benefits that a Power of Attorney can bring.
Not making a Will can be very damaging to the interests of family, dependants and beneficiaries because it can affect the tax burden imposed upon them by government legislation. That legislation can also mean that property may go to those you would not wish to have it.
A Will can dictate who gets what and who doesn’t get what they might expect. It can influence your funeral arrangements, it can set out who (by prior agreement) will take care of your children, make special provisions for particular people or good causes and appoint named persons to take charge of your affairs called “Executors”.
Lasting Powers of Attorney are a way of giving total or limited control of one’s property and affairs and also (if you wish) one’s personal welfare to a trusted relative or professional person in the event of mental incapacity brought on by an accident or medical condition or just advancing years.
Legal advice obtained from an experienced solicitor can prove invaluable in drawing up a Will that removes complications which sometimes arise after the person has died and one which takes full advantage of Inheritance Tax allowances for the beneficiaries.
Neither a Will nor a Lasting Power of Attorney is set in stone whilst you have the mental capacity to change either one. Both documents can give you peace of mind however, providing they have been drawn up by a qualified solicitor and you can have them modified to reflect changing circumstances. To many people the thought of making a Will or a Power of Attorney seems like signing away their lives, however both steps are a serious expression of care and concern for loved ones who will have to supervise your affairs when you are no longer able to handle them yourself. Contact Us Now! One of the leading Solicitors for Wills and Powers of Attorney in UK
Setting up a Trust
Can reduce Taxes
Setting up a Trust can be a way of reducing taxes which are normally levied on an estate after death. However, careful planning is required when considering probates and trusts and it is important that early discussion takes place to ensure that the right decisions are made for everyone concerned