“WILLS WON’T WAIT!”
Wills
Estate Planning
Lasting Powers of Attorney
Trusts, Probate
Funeral Plans
Many people understand what a Will is but are not so sure about Estate Planning. Some think that this is only for very wealthy people but that’s not the case.
If you don’t have a Will then you will die Intestate, which means that the law will decide where your possessions go. It is unlikely that this will be exactly as you would want.
Estate planning starts with a Will to ensure that your worldly goods/assets go where you want them on your death.
Kids, are not your property but if they are under 18 you’re responsible for them. You need to ensure that they are provided for, looked after and brought up in the way you want them to be, so, appointing Guardians for them, needs to happen now, not when it’s too late.
However, what also needs to be considered are any allowances that may be due to your estate at that time and how we can minimise, or, account for any Taxes, which may also be due, which can be as much as 40%.
We also need to look at what debts you have (sadly these don’t die with you) and how these can be managed.
If you have been previously married and maybe had children, then we need to review this and your wishes in light of your current circumstances.
Are you concerned about what life may throw at you in the future, for example, Care Costs and will the local Council look towards selling your home to pay for this? This is just one area where Trusts can help to protect your assets.
If you are injured, ill , or, unable to make decisions re, your finances, or, your health, then a Lasting Power of Attorney will provide you with Peace of Mind, knowing that your chosen family/friends will look after these things for you.
Finally, Funeral Plans, or Over 50’s Insurance can ensure that your wishes are taken care of, at a time that will undoubtedly be highly distressing for your loved ones.
Taking the time to put these things in place now, is the most, ‘Caring Thing that You can do for Your Loved Ones’.