Beacon Wealth Legal Ltd
JEFFREY MILLS SOLICITORS
- Planning Ahead
November 2018 - January 2019
Planning ahead is something that many of us know we should do, but something we don’t always see through.
This issue Sally Power, head of Beacon Wealth Legal - formerly Jeffrey Mills Solicitors shares with you different ways you can plan for the future, and ensure both you and your loved ones are looked after should anything unexpected happen.
Lasting Powers of Attorney (LPAs)
Have you considered who would manage your affairs and make decisions if you were to have an illness or accident that leaves you incapable of looking after things yourself?
Losing mental capacity is not something that we like to think about.
It is a misconception that it only happens to the elderly as a result of diseases such as Alzheimers or senile dementia and can also occur due to stroke, other illness or as a result of an accident.
Making Lasting Powers of Attorney when you have the mental capacity to do so gives you the peace of mind that you have chosen the people you trust and want to make any important decisions regarding your financial and property affairs or health and welfare matters.
Health and Welfare LPA
These can help you stay living in your own home, allowing your Attorneys to work with local services to ensure you receive any care you need in your home.
Property & Financial LPA
These can be used when you still have mental capacity and give your consent to your Attorneys if you choose this option, making it useful where someone is undertaking long term travel or working overseas for a corporate employer.
The forms are available online but we would strongly recommend that you seek professional help to ensure your Lasting Powers of Attorney achieve what you want them to.
Making a Will
It is not a subject most people like to think about but if you do not have a Will in place you have no control over who inherits your estate when you die.
Having a valid Will in place allows you to decide who you want things to go to and when, and also to make other important decisions, such as who you would want to look after any young children (or pets!).
Rules Of Intestacy
This is what happens if you die without a Will have been extended to civil partnerships and same sex
marriages, but cohabiting couples are still very vulnerable to being left with little or no provision on
their partner’s death.
If you want to be certain that those you would wish to be provided for are, this can only be achieved with a carefully drafted Will.
In addition, a well drafted Will can be an efficient tax planning tool, minimising the amount of inheritance tax payable by your estate.
Here To Help
Please get in touch with Sally and the team at Beacon Wealth Legal if you would like to discuss
any of the issues raised.
Contact: Sally Power 01480
219699 or email: