Many people put off making a will because they can.

Those who make the decision to get a Will sometimes take a long time to actually do ‘the deed’ as well. In one case, I had first contact with a particular client and an appointment made which had to be cancelled. For one thing and another – mainly because they were too busy – the appointment was not reset until about 8 months later. Then it took another 7 weeks to deal with the draft will and then another 10 weeks to get the signing (attestation) sorted out.

In all it was over a year, which is a record for me.

I suppose a lot could have happened in that intervening year of delay a.k.a. an extra year of potential intestacy and lack of guardians appointed – just saying!

This is a bold statement to make but there are two good examples I can cite.

Picture two elderly parents who own their property as joint tenants.  When one dies the survivor will be the sole owner of the property.  If the surviving parent goes into care then the value of the property, save the exemption allowance of £14,000, can be taken into account to pay the fees.

A second example is when a parent remarries and buys a property jointly with their new spouse.  If your parent dies first the property is then solely owned by the surviving spouse (step-parent).

So in both cases the fact of joint tenancy brings about a less favourable postion for the potentail family beneficiaries than can be achieved with proper planning.

The simple answer is to sever the tenancy to make the parents tenants-in-common. Then make a Will including a life-interest trust which can leave the surving spouse the full use of the property during their lifetime but allows that shsre to go to the benficiaries after death.  This is a good result all around and simple enough to arrange.

If you would like to find out more, make a Will or if you want to arrange a visit please call Bill Ryan on 01225 582 582 or 07942 95 95 99. Alternatively use the contact page and you will be called back shortly.

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

A Will has a lot in common with life insurance. When you make a Will you know that you will not benefit from it yourself.

Most people believe it is the right and proper thing to do because it provides a better outcome for the loved ones ‘left behind’.

Yet surprisingly over 60% of adults in the UK die without ever making a Will.

For some reason so many people believe it is a sensible and useful thing to do but never actually get around to doing it!

But why is that?

Is it the cost? Is is the bother? Is it some fear of discussing the end of one’s life?

If you engage with the right professional you can have your own Will drawn up easily, conveniently and affordably. Ask yourself this, will you gain peace of mind by gambling on a cheap DIY solution. If you make one mistake the whole thing could be invalid. Will you be able to deal with more complex issues like sheltering your estate from Care Home fees, or ensuring your children will have an inheritance, come what may?

Just ask me for a start! Let’s get together and I will help deliver peace of mind to you.

If you would like know more about how to make your will or to arrange a free no obligation consultation you can call  01225 582 582 or 07942 95 95 99 or use the contact page and we will call you back.

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.

Watching our parents get older can be difficult. Our parents are the ones who made sure we were safe and secure, who advised us and who we looked up to. They have always been there for us.

As we become adults and parents ourselves we can see our parents are ageing. Frequently the roles and responsibilities change to the extent that the child effectively takes on the job of guardian of their parents. It may become obvious that our parents need help and advice to plan their finances and in preparing their estate.

They may need to be encouraged to seek out professional advice to help them sort out their affairs properly. It may be difficult and even uncomfortable to embark on such a discussion especially as it involves acknowledging the ‘potential’ of dying. There is the risk that it will look like the child is trying to manipulate the distribution of the estate. Nothing changes the fact that is is a very important conversation to have.

Estate planning really must be completed sooner rather than later before your parents reach a point where that are unable to effectively plan by themselves. Sometimes Alzheimer’s disease or dementia can rob them of mental abilities and accidents can bring about incapacitation.

A Lasting Power of Attorney can be established for each parent so that their affairs, both financial and potentially medical, can be managed in their interests and the interests of the family, should they lose capacity.

Any good estate planning must include wills. The wills serve to establish both the distribution of the assets in the estate and who gets to do it, as nominated executors. Having well drafted wills in place will also help prevent any additional problems between family members at at time when they will be dealing with the aftermath of the bereavement.

A difficult discussion for you to initiate but you will be contributing to your parents peace of mind which in turn will make their remaining years more fulfilling. It really does make sense for you to encourage them to look for estate planning advice while they are still in a position to do something about it.

If you would like some advice or to arrange a visit please can call 01225 582582 or 07942 959599 or use our contact page and we will call you back.

Affordable peace of mind for people from all walks of life and for those not wanting the cost of a high street solicitor.

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

Well if you are betting on the Grand National that would be a good bet according to the bookmakers.

If it’s a gamble on doing a DIY Will that is another matter. You can save a bit of money now but the cost to your family in terms of emotional turmoil and potential disputes could be enormous.

making a Will is not for your immediate benefit but it can give you real peace of mind but probably only if you use a professional to do it for you.

If you would like some advice or to arrange a visit please call William Ryan on FREEPHONE 0800 878 6565 or 07942 959599 or use our contact page and you will be called back.

Affordable peace of mind for people from all walks of life and for those not wanting the cost of a high street solicitor.

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

The recent sad death of a young mother called Jade Goody from cancer, made plenty of headlines. It has raised many issues including cervical smear testing regimes and the ethics of dying in the public eye.

The fact that Jade knew she would die in a short time made her deal with a number of issues many of us never get around to doing. She knew she had to make a will. She knew she had to make provisions for her children and she wanted to make sure that they would have the maximum benefit from her assets; it is reported she put a £4 million trust fund in place for them.

So she he planned her estate in good time and died knowing she had done her very best in this important respect. Yet another thing for you to think about.

If you would like some advice or want to arrange a home visit please contact Bill Ryan on 0800 878 6565 or on 07942 959599.

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

Running a business involves the use of your skills, your judgement and planning. So you can achieve your business goals. When thinking of your Will and how to deal with your business interests think about these questions:

What would happen to my business if I died tomorrow ?
Who would then make decisions about the business?
Would the business need to be sold?
Can I leave my business to someone through my Will?

Your circumstances coupled with the business structure will largely dictate the answers to these questions.

Sole Traders
As a sole trader you are often the key person of the business with knowledge, skills and experience that cannot be replaced. Without you does the business has a value in terms of physical assets and goodwill that would allow the business to be sold as a going concern. If not the only realistic option may be for that the business is wound up and any monies realised as part of the estate.

Other possibilities might be to ‘bring on’ an employee to purchase the business on such suitable terms that suit each party. Your Will can be drafted to achieve your wishes and if necessary by giving special powers to Trustees to accomplish your wishes. Remember to check leases and contracts within the business in particular the ‘in the event of your death’ provisions. There may be penalties and restrictions on the rights to assign.

Partnerships
A Partnership position cannot be passed on in a Will. However, you can leave the financial interest you have in the Partnership. Without a Partnership Agreement (“PA “) the death of a partner dissolves the Partnership and the firm is then wound up with the applicable proportion of the capital and income passing to your estate.

Consider the possibility that at the time of death there may actually be more liabilities than than capital which would leave the estate potentially liable for any debts under the doctrine of joint and several liability. So if death occurs at a time when liabilities exceed the capital in the firm there may nothing to leave and outstanding debts would be payable from your estate as the liability is against the individual Partners and not the no longer existing Firm.

Best advice is to have good insurance cover to pay off the the financial interest on the death of a Partner. AND to have a formal Partnership Agreement which spells out, amongst other things, the procedures in these circumstances.

Best practice is for each partner to have a Will and a Partnership Agreement so that you can ensure that your family your and surviving business Partners benefit from a considered and planned settlement of your business affairs. Just as important is that a surviving Partner will enjoy the protection afforded through your foresight and planning.

A Shareholder in a Limited Company
A Limited Liability Company has a separate identity distinct from the shareholders who own it. The Articles of Association of the Company set out the rights of Shareholders including the rights a shareholder has to dispose of his shares. Quite often there is a requirement to give other shareholders an option to purchase upon the death of a shareholder. There may be an option to leave shares to specified family members e.g. Spouse and children.

By ensuring the Articles of Association are suitably drafted you can achieve the desired succession arrangements in your Will. The importance of the distribution of the shares after death is clearly more important if it involves a major shareholding.

In conclusion, if your business is capable of continuing you need to ensure that the necessary permissions and restrictions are dealt within advance and that you have well drafted Will.Otherwise it may well not survive after your death and serve to an extra layer of problems to what would surely be a difficult enough time for your loved ones.

If you would like to talk more about Estate Planning in relation to your business please contact Bill Ryan g the contact page or call FREEPHONE 0800 878 6565 or 07942 959599.

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

I was at a meeting yesterday where many of my colleagues dressed up for Comic Relief and we had a sort of ‘swear box’ as well. My kids went to school in pyjamas today and paid £1 each for the privilege with the money going to Comic Relief.

So I will try to do my bit through this offer.

I will donate £25 to Comic Relief for each Will or Lasting Power of Attorney I am instructed on during the next seven days. Any takers before 20th March?

So there is now yet another good reason to make your Will or get that lasting Power of Attorney in place.

If you would like to arrange a consultation please call Bill Ryan on FREEPHONE 0800 878 6565 or 07942 959599 or use the contact page and I will call you back within one working day.

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