Will Writing - Lasting Power of Attorneys - Specialist Trusts
Last Will & Testament
People assume that if they die without a Will their partner will inherit their estate, this is not necessarily the case. Making a Will is the only way to protect your family and give you peace of mind. Should you die intestate (without a Will) the Courts will effectively write your Will for you. You will have no control over where your assets go - assets you have worked hard for and have the right to protect could end up going to the people you did not want to benefit. They will demand that your estate is distributed in accordance with their own strict rules. One of your children or an ex-partner could legally challenge your partners right to inherit your estate leaving your family facing many legal complications, delays and additional costs.
Without a Will
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The law treats unmarried couples as a single person meaning your partner is likely to get nothing.
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If you are now married and you have children from a previous relationship they may get nothing.
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It increases the uncertainty of your grandchildren not inheriting that special gift and/or money that you wanted them to have.
With a Will
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You will be able to appoint someone/people you trust to be the executors in distributing your estate as per your final wishes including who you would like the residue of your estate to be left to, avoiding extra delays and costs associated from using banks and solicitors.
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If you are a property owner you will be able to specify who you would like to inherit your property or live in it when you have passed away. You can also consider protecting your share against possible care costs.
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You will be able to make stipulations as to what age you would like your beneficiaries to inherit (up to 25) and even add a ‘Spendthrift Clause’ if you want to be really careful.
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You can make gifts of: businesses, pets, cash legacies, chattels and property.
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You will be able to appoint guardians (for children under 18).
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You can make funeral requests and organ donation requirements.
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.......... and even make gifts to pets.
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What is Will Writing, and why is it important?Will Writing is the process of formally documenting your wishes regarding how your assets, such as property, money, and personal belongings, should be distributed after your passing. It is crucial because it ensures your assets are distributed according to your wishes, minimises disputes among beneficiaries, and can help avoid lengthy probate processes.
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How do I make a Will?To make a Will it is important that you consider seeking professional advice to ensure that the document accurately reflects your wishes and is legally binding. Making a Will generally involves several key steps: Step 1 - we will carry out a fact finding exercise to establish your assets & debts and discuss inheritance tax implications. Step 2 - you will need to decide who your executor(s) / reserve executor(s) will be. Step 3 - decide who the beneficiaries for your assets will be, as well as guardians for any minor children. Step 4 - once instructed, drafting of your Will will begin and when finalised the signing process will be carried out. Once your Will is complete you will need to store your Will safely, and don't forget that it should be regularly reviewed to ensure it still meets your wishes.
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Can I write a Will by myself, or do I need professional help?While it's possible to create a Will on your own seeking professional advice from a Will Writer such as Pushing Up Daisyz, is recommended to avoid common pitfalls and ensure the Will is legally binding. A professional can help address complex situations, such as business ownership, overseas assets, or the need for trusts.
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What is the difference between a Will and a Lasting Power of Attorney?A Will is a legal document that outlines your wishes for distributing your assets after your death. In contrast, a Lasting Power of Attorney (LPA) is a legal document that grants someone you trust the authority to make decisions on your behalf, either in financial matters or health care, while you are still alive but need support or are unable to make those decisions yourself.
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How can I set up a Will and a Lasting Power of Attorney together?At Pushing Up Daisyz, Specialist Trust and Will Writers, we can help you draft both documents to ensure they align with your overall estate planning goals, providing comprehensive protection for your assets and personal welfare. For more information or assistance, complete our contact form.
The reality is EVERYONE needs to make a Will
What should I do now?
Click here to schedule a FREE consultation. We are happy to advise and can act on your behalf for a significantly lower cost than a solicitor would charge to achieve exactly the same outcome.
