You may have heard the term Estate Planning but you could be forgiven for not really knowing what it means.

The basic premise is that it is to make sure your family is taken care of if something happens to you.

For many people this can mean financial planning, lifetime gifts, drafting a Will and setting up Lasting Powers of Attorney.

For some, perhaps those of more modest means, it may simply mean writing a Will to distibute their estate e.g. leaving everything to their surviving spouse or partner and then on to their children.

For those with more substantial wealth the avoidance of Inheritance Tax (IHT) may become an important issue. This can be achieved in a number of ways e.g. ‘jumping a generation’ by making legacies to grandchildren.

A Lasting Power of Attorney allows you to name a person or persons you trust to make decisions about your health care and/or finances if you get sick and can’t you make these decisions by yourself.

You should do this now – not later.

The home visit Will service is available in Berkshire, Dorset, Gloucestershire, Hampshire, Oxfordshire, Somerset and Wiltshire.

As financial planning is an important part of Estate Planning I can put you in touch one of the excellent Financial Advisors I work with. You can get free expert advice and a free financial review as well.

Working together we can provide a comprehensive solution for your needs.

If you would like to talk to me I can offer free advice with no obligation, or if you want to be put in touch with one of my partner Financial Advisors (IFAs) please call me on FREEPHONE 0800 878 6565 or 07942 959599 or use the contact us page.

A Will is a legal document left by the deceased giving instructions on what should happen after his/her death and how the estate should be divided. Everyone knows they should have one, but often do not understand why. It is the single most important part of effective Estate Planning.

What happens when there is no Will?

Making a Will is the only way to ensure that your wishes are carried out after your death. If you have not made a valid Will, your property (often called your estate) will pass on according to the law of intestacy. This may not be what you want to happen. It is also likely to take much longer to finalise your estate than if you had made a Will. You should be aware that during this time your beneficiaries may be unable able to draw any money from your estate. It can lead to arguments and unnecessary distress for relatives.

Matters to consider

If you are single, you will probably want your estate shared out between friends, relatives and charities of your choosing and in the amounts that you want.

If you are married, it is wrong to assume that your partner will get everything. Brothers, sisters or parents may have a claim. You children have a right to part of your estate. If you are living as a couple but not married or in a civil partnership, you will be treated as a single person and a surviving partner may get nothing at all. You can be certain that there will be uncertainty at a time when the family are trying to cope with the loss of a loved one.

If you are a parent, you should think about who would look after your children in the event they are orphaned. It will not automatically be the children’s God-parents. A valid Will nominating
guardians is essential. If no one knows what you would have wanted, the Court will decide on the future of your children, and it may not be what you or your children would have wished.

If you are retired, maybe you made a Will a long time ago. It may need updating to include additional grandchildren or take account of financial problems some of your children are in. It may need to reflect that you no longer wish to leave anything to some people. It may be that you are concerned about care home fees.

Whatever your circumstances, making a Will is the only way to ensure that your wishes are carried out. So what are you waiting for? If you would like some advice or to arrange a visit please can call FREEPHONE 0800 878 6565 or 07942 959599 or use our contact page and we will call you back.

The home visit Will service is available in Berkshire, Dorset, Gloucestershire, Hampshire, Oxfordshire, Somerset and Wiltshire.