When do you think about making a will?

Will Writing and LPA's

When Do You Think About a Will?

When do you think about making a Will? For many, a Will is only something you come across in a film or a play. When the detective explains to the family that the deceased made a last-minute visit to the solicitor and left everything to the local Donkey sanctuary.

A better question would be this: when should you think about making a Will?

Whatever your marital status or personal relationships, you should think about making a Will sooner rather than later. As none of us know what’s around the corner, if something happens to cause premature death and no Will is in place, then this can cause untold problems and a long delay before anyone receives anything.

Making a Will Has Never Been Easier

If it’s something simple like leaving everything to one’s spouse, or sharing it equally amongst the family, then making a Will is quick, easy and relatively inexpensive.

If you have complex financial and physical assets then making a Will that’s right for you and ensures those you want to benefit do so is also not difficult. You just need to find the right Will Writer and arrange a meeting. This is where Dakin & Co can help you.

To arrange your Will you need to do three things:

  1. Decide that making your Will is important and you are going to make one
  2. Give Dakin & Co a call to arrange a meeting
  3. Think about what you own, who you want to benefit and how and bring your thoughts to the meeting

We’ll give you a price when we know what’s required and you will end up with a Will that’s exactly right for you and your nearest and dearest.

Does a Charity Will Meet Your Needs?

You may also have seen charities and other organisations offering to write your Will for a few pounds. There is nothing wrong with that, but it is important that you find out what the advertised fee actually covers. If your Will turns out to be anything more than very simple then the price will more than likely rise in line with the work involved.

Which is why you need a specialist Will Writer like Dakin & Co. We are qualified Will Writers regulated by the Society of Will Writers.

It’s More Than Just a Will

The legalities surrounding Wills mean that it is good practice to plan in advance, as the tax surrounding inheritance and Capital Gains can be complex. The earlier you plan the better the chance you have of taking full advantage of all available tax breaks.

Our estate planning service includes:

  • Help with planning and reviewing a will
  • Making full use of exemptions and lower tax rates on lifetime transfers
  • Optimising lifetime transfers between family members
  • Transferring agricultural or business property
  • Transferring assets into trust
  • Referring you to a trusted specialist to ensure you have adequate life assurance to cover potential inheritance tax liabilities.

Allied to the Will Writing work we do is:

Lasting Power of Attorney

When you no longer want to make decisions or your health declines to the point where you are unable to decide things for yourself, then a Lasting Power of Attorney (LPA) is a legal agreement that enables a relative or other person to make those decisions for you.

An LPA will become effective if you lose the mental capacity to make decisions about your financial affairs and is something that, once set up, will make sure that you are covered at such time in the future when you need it.

You can specify who you wish to manage your affairs, which could be your spouse, partner, another family member or someone else that you trust.

What Type of LPA Do I Need?

Subject to your specific needs, two types of LPA are available. A ‘health care’ LPA enables someone to make decisions about your medical treatment, your home and where you live, or the day-to-day care you need on your behalf.

A ‘financial decisions’ LPA allows your appointed attorney to make decisions about your property and financial affairs, which could cover anything from paying your bills, overseeing your benefits, collecting your pension, or selling your property.

Require More information?

If you would like more information or would like to speak to us direct then call us on 01773 790097. Or if you would prefer, ask us a question online.

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