A Will is one of the most important documents a person can make and yet many people either have no Will or have an out of date Will.
If you die without a Will your estate will be distributed by a complicated set of legal rules (Intestacy), which may not fully provide for your close relatives.In addition these rules make no provision for unmarried partners except those registered as civil partners.
If your estate is worth more than £325,000.00 (currently) then inheritance tax could well be an issue as your beneficiaries could lose 40% of their inheritance to the Government.There are ways of minimising inheritance tax in your Will and we are happy to discuss this with you in detail.
Making a Will gives you peace of mind in the knowledge that all your wishes will be fully met with the minimum of delay and remember, it is never too early to make a will.Think of it this way – you will have insured your house and belongings and may have a life assurance policy in place – making a Will is no different.
If you would like further information about making a Will please contact Julie Erhardt either by email or telephone her on 01344 623400.
LASTING POWER OF ATTORNEY
People who lack mental capacity need someone else to manage their legal, financial and health affairs. The Mental Capacity Act 2005 made provision for people to choose someone to manage not only their finances and property should they become incapable but also to make health and welfare decisions on their behalf. They will be able to do this through a Lasting Power of Attorney (LPA). LPAs replaced Enduring Powers of Attorney (EPAs) in 2007, when the Mental Capacity Act came into force.
If you would like further information regarding LPA’s please contact Julie Erhardt either by email or telephone her on 01344 623400 .