We encourage people to take the first step in controlling their estate planning with this fundamental document. A will is especially prudent if there are children or other dependants involved, couples that are not married, there are step children in the family or if you have someone you would like to exclude from your Will.
An LPA is a legal document which enables chosen Attorneys to look after your Health and financial affairs or make decisions on your behalf if you are incapacitated. An accident, unforeseen illness, stroke, fall or dementia for example could leave you deemed incapable of making decisions in the eyes of the law.
You don't need to be getting on in life for an LPA to be useful. Some parents create an LPA to make sure their children are looked after in a way they'd want in case they can no longer look after them by themselves
Trusts are specifically designed to protect your assets for you during your lifetime. Everybody wants to protect their assets for their loved ones. Parents are motivated to provide for their children throughout their lives and want the best for them. Many people will draft a will hoping to ensure that the assets they have worked hard to acquire during their lifetime are passed on to their children and chosen beneficiaries after their death. However, a will can only control the assets that you own at the date of your death and if these are eroded during your lifetime, there will be little if anything for your beneficiaries to inherit. Specifically designed Trusts are created to protect your assets for you during your lifetime and gives you peace of mind that they can pass on securely and intact to your spouse, your children and their bloodline(or other named beneficiaries) after your death.
Administration and winding up any estate involves serious and often complex legal duties and responsibilities. We have many years of experience in processing probate in an efficient but compassionate way. We can help with the paperwork, arrange for a valuation of the deceased estate, help with property sales and transfers, and arrange tax advice before overseeing the distribution of the estate. As an executor, you can call on us to work alongside you in an advisory capacity.
While rising costs of funerals is often quoted as the primary reason for taking out a funeral plan, many plan holders tell us that the greatest benefit to them is knowing that their family won't have to worry about making detailed funeral arrangements at an already stressful time - and that the costs have been taken care of.
As a business own, it's important to consider what would happen to your business if you're unable to make decisions. This may be if you were to have an accident or had a medical condition that incapacitates you. in such circumstances, who will authorise the payments of bills, sign cheques, service a business loan or pay salaries? Don't assume that your family member or a business colleague will gain the authority to make these decisions on your behalf - this assumption could leave your business exposed to risk. To protect your interests, and those of your business, you should consider making a business LPA.
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