Reasons to do a Will.
- Protect your wealth for your family.
- Specify Guardians for your children.
- Protect against losing assets to the Government.
- Protect against sideways disinheritance.
LASTING POWERS OF ATTORNEY
There are two of these which are needed if you ever lose your mental capacity. One covers your Health and Welfare decisions and the other one covers your Property and Financial decisions.
Reasons to put these in place.
- Your bank accounts including joint accounts will not be frozen by the Court of Protection.
- You won’t have to continually report to the Court of Protection and pay fees to the courts.
- If you cannot handle all the hassle dealing with the Court of Protection you will probably instruct a solicitor. How much will that cost?
- The costs can be substantial and run into thousands of pounds!
PREPAID FUNERAL PLANS
- The cost of funerals have risen substantially over the last 10 years and you can lock in the cost at today’s prices potentially saving you thousands in the future.
- You can plan your funeral to your own specifications and it will alleviate the burden of organising a funeral by one of your family.
INHERITANCE TAX PLANNING
(Particularly for Property Portfolios)
- How to save hundreds of thousands of pounds for future generations of your family by paying less inheritance tax.
If you have a query about your will, arrange a chat with Gary.