What would happen to the children’s inheritance if one of the parents were to die and the other re-marry?
The children’s inheritance could be greatly reduced if the estate and Will has not been planned correctly.
Currently over 200 homes a day in the UK are having to be sold to fund long term care home fees. Can property be prevented from having to be sold to fund long term care costs?
In certain cases if the estate has been planned correctly. Depending on the clients circumstances APS Legal & Associates can legally safeguard half the value of the property in order for it to be passed on as an inheritance to the clients’ loved ones in the fullness of time.
Are you concerned about the possibility of becoming incapacitated through either ill health or an accident?
APS Legal & Associates can put into place a legal document called a Lasting Power of Attorney. Through this legal document clients can appoint whom they wish to manage their affairs, even if they became mentally incapable of managing their affairs themselves. Without a Lasting Power of Attorney joint assets can be frozen while family members apply to the Court of Protection for permission to handle the clients affairs – a lengthy and costly process.
At what age would my children inherit the estate?
Through a professional drawn up Last Will and Testament you can set up a trust for your children or grandchildren. This allows you to “ring fence” that particular part of their estate and dictate the age that you wish the named beneficiary to inherit the estate. Usually, the inheritance ages for such trusts is 21 or 25 years of age, but it can be at 18.
What happens if the children are under the age of 18 and both parents die?
Without a Will the children could come under the care of Social Services, and ultimately be placed with foster parents. Having a Will in place allows the client to appoint guardians who then have legal authority to care for their children. These are just a few of the concerns that need to be addressed when planning and protecting a clients estate.
How often should I review my Will?
If there any material change in your life and at least every three to five years or if your Will no longer reflects your wishes, then you should review your Will. Important life ents such as marriage, civil partnership and divorce change your life and priorities and therefore a new Will should be made when contemplating these events. A Will is automatically invalidated (“revoked”) on marriage. Simple cahnges to your Will can be made by a Codicil but do not try to alter a Will yourself by crossing out or adding some words after your Will has been signed. These types of change will almost certainly invalidate your Will.
The above are just an example of some of the most common concerns our clients have mentioned.
If you would like to discuss your own situation please contact William Ryan of APS-Legal & Associates. You can call us on 0845 4304600 or 07942 959599 or use our contact page and we will call you back within one working day.
The home visit Will service is available in Berkshire, Dorset, Gloucestershire, Hampshire, Oxfordshire, Somerset and Wiltshire.
