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.

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.

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.

Estate Planning is a topic that should be emabraced by every adult

Too many people procrastinate when it comes to writing a Will. It maybe because they have a dislike of thinking of their own mortality or think they don’t have enough in the way of assets to worry about it or even that making a will is too expensive. Well, if you didn’t know before there is more to making a Will than directing where your assets go. At the very least it can spare you loved ones turmoil in the aftermath of your passing.

Make a Will
If you make a will you can decide who gets your assets and who does the distribution for you. If you have young children you can appoint a Guardian to care for them, otherwise if there is no living parent the social Services are responsible and a Court decides on your child’s future.

Make a Lasting Power of Attorney
With the two types of Lasting Power of Attorney you can appoint someone to look after your financial interests and make decisions concerning your medical treatment if you become are unable to do so. You can only make an LPA if you have proper mental capacity.

Consider Advance Decisions
You can use an advance decision (called an advance directive as well) to state your wish to refuse all or some forms of medical treatment if you lose mental capacity in the future, including resucitation. You can’t use it to request treatment. It works to give you the final say in this aspect of medical care. If made after you make an LPA it will take precedence.

You can do all of the above without any help from a professional but bearing in mind the importance of all these matters you would be well advised to seek some professional guidance.

If you would like some advice or to arrange a visit please call Bill Ryan on 01225 582582 or 07942 959599 or use the contact page and I 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.

Are you unmarried partners without a Personal Welfare Lasting Power of Attorney (LPA)?

What happens when an unmarried individual lacks the mental capacity to make their own choices. Normally, it falls to their next-of-kin, which could be parents if they are alive, or children, or failing that then a brother or sister and so on. Whoever it is will be called on to make important and maybe difficult decisions.

So without an LPA in place it is quite possible that a relative who is unclear of the wishes of the individual concerned is left to make very important decisions on their behalf.

For an unmarried individual without an LPA, the process of selecting who is to make decisions on their behalf should they lose mental capacity is out of their control, to a certain degree.

What’s different between an unmarried couple without an LPA and a married couple or civil partners without an LPA?

For a married person or civil partner, the next of kin is always their spouse or civil partner. This is straightforward as the decision making will vest in them. It is still advisable to have an LPA in place to allow the individual to retain control over who should be given decision-making powers on their behalf. Importantly, it gives an opportunity to select additional people to act as an attorney and the also option to name replacements in the event that an attorney is unable to act.

A partner who is not a spouse or a civil partner will not normally be ‘legally’ able to make decisions, on behalf of their partner in the event of lost mental capacity.

How does having a personal welfare LPA help?

By having a personal welfare LPA an individual can dictate who is to make decisions about them, should they lose mental capacity. They can name their unmarried partner as an attorney with the requisite legal authority. Thus a personal welfare LPA gives an unmarried couple the opportunity to put themselves in the same position as a married couple or civil partners in relation to the decision making in the evnt mental capacity is lost. So it can help to remove the a layer of uncertainty and vulnerability that can affect an unmarried individual later in life.

When should I make an LPA?

It can be too late to make an LPA. That’s because an LPA can only be drawn up whilst still mentally able to do so. Once a person is deemed to be mentally incapable it is just too late to do it. At this stage the normal recourse is through the courts which can be stressful and expensive.

If you would like to arrange a consultation please call Bill Ryan on 01225 582582 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.