Wills and Estate Planning for under 55s
Wills and Estate Planning
We all want our assets to go the people whom we choose to inherit them. Not planning for the future of your estate when you are no longer here could mean that loved ones are overlooked when sharing out your possessions. Lots of your belongings could be taken and sold to fulfil a tax liability, or claimed by another relative, or non-relative, who believe that they deserve the money.
At Your Safe and Secure Will we will help you put plans in place so that your estate is dispersed in the way you want it to be. Having a will and your estate planning organised in the correct way is essential for everyone.
LPA’s
No one wants to think about becoming incapable of making their own decisions through illness or accident. But it happens to people of all ages. Many people think that if something happens to them in the future and they can’t make their own decisions about issues such as finances, property, healthcare or personal care, for example, their family or friends can simply take over. It isn’t true.
Just as you need to make a will to determine what will happen to your assets when you die, you need to put a Lasting Power of Attorney (LPA) in place if you want to make the decision yourself as to what will happen to you if you lose mental capacity. It allows you to plan ahead to make sure that all your wishes are respected, no matter what happens.
Probate Services
Estate administration is the process of dealing with a person’s legal, financial and personal tax affairs after they have died.
It involves far more than obtaining a Grant of Probate (Confirmation in Scotland) which is just one element of the process. This means dealing with all their assets (such as property, shares and personal possessions), paying debts and paying any Inheritance Tax and Income Tax. Whatever is left in the estate is then transferred to the beneficiaries. Estate administration can be extremely complex and is required after every death, whether or not there is a Will.
Amy Manaton, Estate Planning Consultant
I have worked in many industries over the years and now very much enjoy working in the one I will remain. As an Estate Planning Consultant, I assist my clients with ensuring their wishes are in place for when the inevitable happens, which gives them peace of mind. I also help clients (many the same) to arrange their Lasting Power of Attorney which gives that extra peace of mind while they are still here with us. Much of my Business comes from existing clients and people they refer to me which I consider to be the greatest compliment and am very thankful for. I also work as an Insurance Advisor and provide protection advice through our financial services company, The Financial detectives.