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Lasting Power of Attorney, Living Wills and related services - experienced lawyers in Telford, Shropshire UK
Call us on 0845 644 6375
It is a fact that whilst most people are full of good intentions when it comes to their families and management of their personal affairs, very few people get everything in order while they are still relatively young and fit. It is a common misconception that Wills are only for the elderly, infirm and the wealthy.
Fewer than 30% of us have made a Will and of those who have a large proportion do not change it when their circumstances change. This could mean that it is no longer tax effective and may even be invalidated as a result.
We can help you pass your wealth onto your loved ones with as little as possible going to the taxman.
Whether you are a private individual, company director, property portfolio owner or shareholder, we can offer a broad range of friendly, professional advice tailored to meet your requirements.
This includes the following:
Wills
Without a Will you cannot control what happens to your assets when you die, and you may leave your dependents with a tax burden or other problems. If you are a company director, shareholder and / or property owner you should seek specific guidance on the impact of death not only on your family but also your estate and your business. If you are not married to your Partner the law does not recognise you as a beneficiary even if you have lived together for many years, and it may take complex litigation to recover what you believe is rightfully yours. We aim to provide our clients with a tax efficient Will that suits their particular circumstances.
Professional Executors
Ordinarily, we would normally recommend that you consider appointing at least one family member to be an executor of your Will. There are, however, circumstances in which it can be prudent to appoint a professional executor as well.
There are advantages in having an independent and objective voice who can help to prevent potential family disputes and move the process forward smoothly. You should also bear in mind that although parts of the work of administering the estate are routine, there are many technical elements which will require help.
We would be happy to discuss the advantages and disadvantages of professional executors with you in more detail.
Succession Planning
We can advise on effective ways of passing on all of your business interests. » Read more.
Charitable Gifts
There are a number of tax exemptions for charitable gifts and we can help you make maximum use of the thresholds.
Living Wills
In most instances when you are ill, you are able to discuss options with you doctor and you cannot be given medical treatment without your consent. If you were to be admitted to hospital but were unable to process information or understand the implications of the proposed treatment then you would 'lack mental capacity.' It is in this type of situation that a doctor would be assisted if he was able to access information that reflects your wishes - this could be in the form of an advance directive or 'Living Will.' Although it is not recognised at law, a doctor is duty bound to comply with a valid advance directive. You should ensure that the information is clear and concise, that you discuss it with your General Practitioner first and that you store it with your original Will.
Lasting Powers of Attorney
From 1 October 2007 the regime for Powers of Attorney changed and the Enduring Power was replaced by the new Lasting Power of Attorney. There are two types of lasting power;
- Enduring Power of Attorney - Personal Welfare
If you are no longer able to look after your own personal welfare (social and health care needs) this document will give that power to another person ie your attorney. Once the power takes legal effect your attorney will have the power to act on your behalf on matters relating to your personal welfare. - Enduring Power of Attorney - Property and Affairs
This gives your attorney the legal authority to act on your behalf in any matter relating to your finances and property.
In both instances a form has to be completed and registered at the Court of Protection. Please note that LPA's are only valid in England and Wales.
At Martin Kaye we are able to advise and assist in the completion of all the appropriate documentation.
Court of Protection Applications
If you are the attorney of an Enduring Power of Attorney and wish to register the document we can assist.
Further Wills & Probate Services