There are several reasons why it is a good idea to make a Will. Some of these are:-
You can appoint Executors to deal with the administration of your affairs after your death.
You can state who you would like to care for your children after your death, appoint people to look after your children’s inheritance on their behalf and specify an age at which you would like the children to receive the inheritance.
You can state who you would like to receive what in terms of assets. This may be particularly important if you were married since, contrary to common belief, your spouse is not guaranteed to receive your whole estate automatically on your death. Making a Will ensures that you provide for whom you want to provide.
Making a Will takes away a great deal of stress and uncertainty for family and friends at an already difficult time.
Powers of Attorney
At the same time as drafting your Will you may wish to consider asking us to prepare a Lasting Power of Attorney. This is a document by which you can appoint one or more persons of your choice to deal with your affairs in the unfortunate event of your mental incapacity. If you become mentally incapacitated and do not have an LPA, very often a deputy has to be appointed through the Court of Protection and this can be a lengthy and expensive process. An LPA is therefore extremely useful and although we all hope never to need one, if the situation does arise, matters are much more straightforward if one is in place.
When somebody dies it is often difficult to know what needs to be done to get their affairs in order and where to start. It can also be very distressing for a close relative to go through the papers of a deceased loved one and to inform the appropriate bodies of the death.
If the affairs of the deceased are complicated or of high value, it can be a daunting task to sort things out, deal with the calculation and payment of inheritance tax and the application for Grant of Probate, if required. The Grant of Probate is the document which shows all relevant bodies that the Executors or personal representatives of the deceased have authority to deal with the assets of the estate.
We can assist in any aspect of estate administration, from initial guidance, putting together the application for probate, assisting Executors or personal representatives through the administration or acting as Executors ourselves.
For further information or initial consultation please contact Robert Sawers in our Petersfield office or James Sawers in our Midhurst office.
We can provide information on making wills, enduring powers of attorney, living wills, funeral planning and funding long term residential care. Please contact us to request an information pack or visit www.lifeholder.co.uk.
