Lasting powers of attorney (LPAs) are legal documents that can be incredibly useful for later life planning. Many people think they are unnecessary, but there are many reasons why an LPA may be beneficial to you. What Is an LPA? A lasting power of attorney (LPA) is a legal document that allows you to appoint […]
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Lasting Powers of Attorney (LPAs) are set to be modernised according to new government standards established in July 2021. More people than ever are looking into establishing an LPA to secure their future, and the old process is set to be scrapped for a new, streamlined version that will include additional safeguards. What Are Lasting
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Many people will probably advise you to get a solicitor when it comes to estate planning. However, they don’t know that paralegals can actually do almost everything solicitors can and are often more specialised. What is a Paralegal? Paralegals are sometimes considered less knowledgeable than lawyers, solicitors, and barristers; however, this is often not the
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When looking to begin creating your Will, you may have heard the term mirror Will several times. A mirror Will is a form of Will that you can draw up with your spouse, but are they a good idea? What Is a Mirror Will? A mirror Will is a Will that is almost identical to
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It is increasingly common for people to own assets in foreign countries. This can be anything from buying a holiday home to marrying someone from a different country and sharing assets. However, having property abroad can be a complex issue to deal with when creating your Will. Property and inheritance in other countries can be
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A Lasting Power of Attorney (LPA) is a legally binding Government-backed document that allows you (the Donor) to appoint a trusted friend or family member of your choice (the Attorneys), to make decisions for you, should you lose mental capacity or no longer wish to make decisions for yourself. This gives you more control over
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A Flexible Life Interest Trust (FLIT) arises when a beneficiary (usually a spouse) is left a lifetime interest in property (and often assets). This means that the beneficiary is entitled to receive income from the Trust, for life, but they are not entitled to receive capital as this will often pass to children from a
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Leave Estate Planning to the Professionals We all like to take control – we were raised to be independent and work things out for ourselves! That Ikea furniture your son wanted to help you with? Done. Set up. You probably did a better job than he would have done. However, some things are more complex
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Like many other developed nations, the UK’s population is rapidly ageing as people eschew having children. This has caused a seismic shift in people’s later life plans as many older people do not have children or grandchildren to leave their estate to. Leaving your assets to a spouse can cause a variety of complications. What
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A key part of preparing a will is to select an executor. An executor is appointed to carry out your wishes and the instructions outlined in your Will when you die. An executor’s duties are likely to include: sourcing your financial documentation and listing all assets including property, possessions, and money. applying for probate. sending
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