WILL WRITING | LASTING POWERS OF ATTORNEY | ESTATE PLANNING SERVICES

Protecting your legacy!

We provide our clients with an exceptional Estate Planning service, delivering quality advice on Wills & Lasting Powers of Attorney with a personal approach and friendly service.

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Services

Will Writing

It might come as a bit of a shock, but over half the adult population of the UK, don't have a valid Will in place!

Your Will is an essential part of your future financial planning, it lets family and friends know how you would like your assets and personal belongings distributed as and when you die.

If you don't have a Will in place, then in legal terms it falls on the courts to decide who gets your estate and unfortunately, that leaves you with no say in how your legacy gets divided up.

Some key reasons for having a Will are:

Establishes your wishes on how your estate is left and to whom
States your funeral wishes and any preferences
Nominates Guardians to legally look after minor children
Avoid beneficiaries paying unnecessary Inheritance Tax
Create Will Trusts to protect your assets from sideways disinheritance
Protect vulnerable beneficiaries from being disadvantaged by losing means-tested benefits
Nominate Charities or Local groups as benefactors

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Will Storage

If you have a Will written by me then this is a great low cost, safe option to store your documents securely.

Will storage is a low cost annual fee which allows you to store you key documents such as your Will & LPA.

National Will Safe Ltd will keep your documents in a waterproof envelope & protected in a specialist document archive

Your Will is registered on the National Will Register

Your documents are scanned and an electronic copy is kept, all fully insured and returned to you free of charge, to you or your executors when needed.

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Lasting Powers of Attorney

Lasting Powers of Attorney or LPAs are another key part of basic financial planning. Whether it‘s a freak accident or the slow decline in mental capacity, none of us really know what’s around the corner. I speak to people daily about the conditions of Lasting Powers of Attorney, and there’s a common theme that most people think you only need one when you get old.

A Lasting Power of Attorney (LPA) is a way of giving someone you trust, the legal authority to make decisions on your behalf if you lose the mental capacity to do so in the future. There are 2 types of LPA, one is based on financial situations including the sale of property and money management the other is to do with the provision of health and care. They are not mutually exclusive and can be either planned together or written separately

Health & Welfare

This LPA comes in to force if you are unable to make your own decisions. Your nominated attorney(s) are then able to be involved in important decisions, act on your wishes and in your best interest in the following areas:

Arrange where you live
Arrange 'Care' for you
Manage your medical needs
Manage your general welfare
Manage Life-Sustaining treatment

Finance & Property

This LPA gives your nominated attorney(s) the power to make decisions about your finances and property, such as:

Managing your bank accounts
Paying your bills
Selling your home
Collecting benefits or pensions.

This LPA can be used as soon as it is registered, with your permission.

So if you are in hospital for an extended period of time, out of the country or you lose mental capacity this LPA will be invaluable

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Guardianship

One of the most crucial yet often overlooked aspects of estate planning for parents is appointing a guardian for minor children.

Drafting a Will is an important step in safeguarding the future of your dependents, especially if you have small children or individuals who require special care. One essential aspect to consider is the appointment of a guardian.

By explicitly stating your choice of guardian, you not only prevent potential disputes among family members but also maintain control over who takes care of your children. Considering factors such as values, parenting style and emotional connection when making these decisions is vital. I always recommend discussing your thoughts with a potential guardian(s) before embarking on any legal administration, to make sure everyone is aligned with your choices.

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Trusts

A Will Trust, also known as a testamentary trust, is a type of trust that is created within a will and takes effect upon the death of the individual. It allows the testator (the person who made the will) to specify how their assets will be managed and distributed after their passing. Unlike a simple will, which distributes assets outright, a Will Trust provides a structured way to manage those assets for the benefit of specific beneficiaries.

Key Features of Will Trusts

Controlled Distribution: With a Will Trust, you can dictate when and how your beneficiaries receive their inheritance. This is particularly useful for minors or individuals who may not be financially responsible.
Asset Protection: Assets held in a trust are generally protected from claims by creditors or in cases of divorce, offering a layer of security for your beneficiaries.
Tax Benefits: A Will Trust can potentially provide certain tax advantages. For instance, it may help mitigate inheritance tax or facilitate tax-efficient transfers.
Flexibility: A Will Trust can be tailored to meet your specific needs, allowing you to set conditions on how assets are used. This could include stipulations for education, health care, or living expenses.

Establishing a Will Trust is an effective way to protect your assets and ensure that your loved ones are cared for after your passing. By providing clear instructions for the management and distribution of your estate, a Will Trust can reduce conflict, offer financial security, and safeguard your wishes. Consulting with an estate planning attorney can help you understand the intricacies of Will Trusts and how they can be tailored to fit your unique situation.

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Property Protection

When planning your estate, it’s crucial to consider how your assets will be protected and distributed according to your wishes. One effective strategy is the severance of tenancy, which can safeguard your property against sideways disinheritance and help manage potential care home fees.

Understanding Severance of Tenancy

Severance of tenancy refers to the legal process of converting a joint tenancy into a tenancy in common. In a joint tenancy, both parties hold equal shares of the property, and upon the death of one tenant, the entire property automatically passes to the surviving tenant. This can pose significant risks, particularly in the context of inheritance and long-term care planning. By severing the tenancy, each owner holds a distinct share of the property, which can then be specified in their wills. This means that when one owner dies, their share can be passed on to their chosen beneficiaries rather than automatically going to the surviving owner.

Severance of tenancy is a powerful tool in Estate Planning that can help protect your property from sideways disinheritance and manage potential care home fees. By taking proactive steps to sever tenancy and clarify your wishes in your will, you can ensure that your assets are distributed according to your desires, providing peace of mind for you and your family. Always consult with a qualified solicitor to tailor these strategies to your individual circumstances and ensure that your estate plan is robust and effective.

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What our customers say...

Sally Salisbury

Richard was professional, knowledgeable and patient. He explained options clearly to allow me to make the right designs. He was very methodical and gave very clear instructions on what to do next. I can recommend his service and thank him for treating us with respect and for being friendly and approachable.

FAQs

What is a will?

A will is a legal document that outlines how a person's assets, properties, and belongings should be distributed after their death. It also appoints an executor to carry out these wishes.

Why is it important to have a will?

A will ensures that your assets are distributed according to your wishes after your death. It also allows you to name guardians for minor children and can help minimise family disputes over inheritance.

Who can make a will?

Generally, any adult of sound mind can make a will. Laws regarding will-making can vary by jurisdiction, so it's advisable to check the specific legal requirements in your area.

What happens if I die without a will (intestate)?

If you die without a will, your assets will be distributed according to the intestacy laws of your state or country, which might not align with your preferences. Additionally, the court will appoint an administrator to handle your estate.

Can I write my own will?

Yes, it's possible to write your own will using templates or software. However, as you can imagine, we would always recommend seeking legal advice to ensure your will complies with all legal requirements and is clear and enforceable.

How often should I update my will?

Life events such as marriage, divorce, the birth of children, or significant changes in assets should prompt a review of your will. It's advisable to review it every few years to ensure it reflects your current wishes.

Who should I choose as an executor of my will?

An executor is responsible for carrying out the instructions in your will. Choose someone trustworthy, responsible, and organised. It can be a family member, friend, or a professional such as an attorney or a financial advisor.

Can I disinherit someone in my will?

In most jurisdictions, you can disinherit individuals, but laws might vary. It's essential to follow legal procedures and clearly state your intentions to avoid potential legal challenges.

Are there assets that can't be included in a will?

Some assets, such as life insurance policies with named beneficiaries, retirement accounts, jointly owned property with rights of survivorship and assets held in a trust, might not be controlled by your will.

Where should I keep my will?

Store your will in a safe and easily accessible place. Options include a safe deposit box, a fireproof safe at home, or we offer a Will Storage solution. Just make sure to let your executor know where to find it.

Resolute Wills

WILL WRITING | LASTING POWERS OF ATTORNEY | ESTATE PLANNING SERVICES

Protecting your legacy!

Services

Will Writing

Some key reasons for having a Will are:

Will Storage

Lasting Powers of Attorney

Health & Welfare

Finance & Property

Guardianship

Trusts

Key Features of Will Trusts

Property Protection

What our customers say...

FAQs

Resolute Wills

Resolute Wills

WILL WRITING | LASTING POWERS OF ATTORNEY | ESTATE PLANNING SERVICES

Protecting your legacy!

Services

Will Writing

Some key reasons for having a Will are:

​

What our customers say...

FAQs

Resolute Wills