WILLS, TRUSTS AND PROBATE
Current statistics show that the majority of people do not make a Will. This could be for a number of reasons ranging from “I don’t have much money so I don’t need one” to “It will just pass to my spouse anyway so why should I bother”.
Both of these views are wrong. We would highly recommend that every person makes a Will, whatever their circumstances. The law as it stands does not necessarily correspond with what people think it should say!
It is not just a Will that you should consider entering into. You may also wish to consider the preparation of a Lasting Power of Attorney. This allows people to act on your behalf if you are no longer capable of acting for yourself.
When a loved one passes away, it is a difficult time for all concerned. We can assist your relatives with the formalities involved with estate administration, from obtaining the Grant of Probate or Letters of Administration to the ultimate distribution of the estate.
For further advice on the above then follow the below links:
Court of Protection
If a person has lost capacity to act on their own behalf and has not sign a Power of Attorney then an application will need to be made to the Court of Protection to appoint a Deputy to act on their behalf.
When a person loses capacity, then it is often the case that their assets are frozen as no-one can deal with them until someone has been appointed an Attorney or Deputy. In many cases, access to funds are required to pay nursing home fees and to cover the normal living costs.
We can assist with a Court of Protection application and provide the Deputy with advice regarding their duties and responsibilities once they are appointed a Deputy.
Disputes
Unfortunately, it is often the case that the death of a loved one can result in difficulties and disputes between those that are left behind.
There are various disputes that typically arise from someone passing away. These range from being excluded from the Will or not being adequately provided for under the terms of the Will or Intestacy provisions (called a claim under the Inheritance (Provision for Family and Dependants) Act 1975) to a belief that the deceased was forced into making a new Will shortly before their death or that the deceased did not have the capacity to make the Will when they did.
Lasting Power of Attorney
A Lasting Power of Attorney (LPA) allows you to appoint a trustworthy person of your choice to manage your affairs should you become unable to do so.
There are two types of LPA’s: (1) Financial Matters (2) Health and Welfare. You can either complete both LPA’s or one of the LPA’s.
The financial LPA deals with all of your finances and property. It allows the Attorney to access your bank accounts, alter your investments, sell your property and generally deal with all of your financial matters.
The health and welfare LPA allows your Attorney to deal with making decisions on your behalf regarding your health matters. You can allow your attorney to make decisions regarding life sustaining treatment. With both LPA’s you are free to place restrictions or recommendations on the power that the Attorney has.
Both LPA’s must be signed when the donor is still capable of signing documents. If they have already lost capacity then an application will need to be made to the Court of Protection.
Probate and Estate Administration
It is obviously a very difficult time when a loved one passes away. Unfortunately, those left behind have an arduous task when it comes to administering their estate with the ultimate view of distributing the estate.
We are able to act as professional Executors when appointed in a Will. Even if we have not been appointed, we can work with those who have been appointed to ensure that the legal formalities are resolved as soon as possible. If the deceased died intestate (without a Will) we can advise the relatives on how to administer the estate and the Intestacy Rules that govern who the estate is to pass to.
Wills
Making a Will is not just a luxury that only the rich can afford. It is a sensible and recommended way of making sure your estate passes to those who you wish it to pass to.
If you die without leaving a Will (i.e. intestate) then your estate will not necessarily pass to your spouse (if that is your intention!). The Intestacy Rules are complex and are not how many people think they should be. For example, if you are co-habiting but are not married or in a civil partnership then your co-habitee will not receive anything from your estate.
Wills can also be used to appoint guardians, confirm your instructions for your funeral arrangements and gift your belongings to family, friends and charities. These can be gifts of money or personal items of either monetary or sentimental value. Wills can also be used to make your estate tax efficient and to limit the responsibility you may have for future nursing home fees.
Wills are especially important when there are unusual or strained family relations. If you have been married more than once or no longer speak to a family member, it is advisable to make a Will to put forward your intentions. This is the only way those closest to you will know what you really want.
This firm is authorised and regulated by the Solicitors Regulation Authority under No. 349090