2. Wills
Contents of a Legal Binding Will
• Executors
• Funeral wishes
• Guardians for children
• Mutual Wills
• Beneficiaries
• Protection of assets for
beneficiaries – Trusts and Life
Interests in property
• Tax advice
When a person dies without a Will
• Government decide who will be
your administrators.
• Your funeral wishes may not be
followed
• Your children may be placed in
care.
• Government dictate where your
assets pass.
• No tax planning
3. Lasting Powers of Attorney (LPAs)
Financial and Property LPA & Health
and Welfare LPA
• You can chose your Attorneys.
• You can include wishes and instructions such
as:-
Whether you wish to have
treatment to prolong your life if you
are in a vegetive state
Whether you wish to go into a care
home
• Where you wish your money to be invested.
• In the Property and Financial LPA, you can
state that your Attorneys can assist you whilst
you have mental capacity but lack physical
capacity.
If a person lacks capacity without an
LPA, a Deputyship Order is required
• Loved ones have to apply to the Court of
Protection to become your Deputy
• The Local Authority could be appointed as
your Deputy.
• This is a lengthily process
• It is costly
• During the process your loved ones cannot
make decisions about your health and your
welfare.
4. Post Death Services
I assist Executors with obtaining a Grant of Probate and Administrators
with Grants of Letters of Administration. This includes:-
• Collating the value of the deceased’s assets.
• Preparing tax forms or notifying HMRC
• Preparing court applications to obtain a Grant.
• Preparing estate accounts
• Distributing the estate
• Preparing Deeds of Variation.
5. Trusts
Trust of Land
I prepare Declarations of Trust which state:-
• Individual shares in a property
• What would happen if a party wants to
sell the property
• Who pays the bills/mortgages and in
what percentages
This saves the need to apply to court if the
co-owners fall out.
This also saves time and money
Other Trusts
I prepare Lifetime Trusts and Will Trusts
such as:-
• Discretionary Trusts
• Vulnerable Person’s Trust
• Life Interest Trusts of land
