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A Basic Will is essential to ensure that your Estate is distributed as you would wish. Basic Wills. It is the foundation of Estate Planning and enables you to nominate Executors and Guardians. It provides no mitigation against Inheritance Tax nor any safeguards against the erosion of your Estate by Care Home Fees.
A Living Will (also known as an Advance Medical Directive) provides the opportunity to document your wishes with respect to end of life medical treatment in a form that is accepted by both the BMA and RCN.
A Living Will allows you to decide in advance of a debilitating illness or injury what is acceptable in the way of medical treatment or life support procedures, and comes into effect when you are mentally impaired, such as with a coma, and unable to communicate with medical professionals as to the acceptability of certain medical treatments.
It may be advisable to seek advice from your General Practitioner or another medical professional.
Writing your Will is only the first step.
Only your original Will correctly signed and witnessed is legally valid. A copy, whilst useful, is not deemed legal for the distribution of your estate.
It is a surprising statistic that one in three Wills are never found, and if your Will cannot be found decisions will be made by the Courts under the Rules of Intestacy.
Consequently…
Placing a legacy into trust for children or grandchildren may be an effective way of ensuring that younger people receive their inheritance at an age when they are more financially responsible such as 21 or 25.
Those with special needs require particular protection if their potential inheritance is not to be sequestered by Local Authorities to pay for Community, Residential or Nursing Care. The use of a discretionary disabled trust can help in such cases.
Owning property or other assets overseas can raise inheritance issues which may be very different to English Laws. It is essential that you have a properly drawn up will in the country where you hold assets. We have access to professional firms in most European countries.
Have you recently suffered a bereavement?
Dealing with someone’s affairs when they die can be complicated and confusing, especially at a difficult and emotional time. We can help support you and provide direction to administer your friend or loved one’s estate.
Whether you need some advice on what steps you need to take in order to deal with the estate of a loved one or you are looking for someone to carry out services on your behalf, whatever your circumstances we have the right answers and solutions for you. At a time of loss, financial matters are very sensitive so be reassured that Anglian Will Writing offer Fixed Fee Probate Services. This means we will agree the cost upfront and there will be no hidden surprises. “
More information coming soon.
According to a recent survey of 66 councils in England, last year 70,000 homes were sold to pay for residential or nursing care!
One in every three women and one in every four men are likely to require long term residential care.
Fees in Care Homes vary considerably, but are in the order of £15,000 to £25,000 depending on facilities and the area of the country.
In April 1993 the Community Care Act came into force in the UK. It removed responsibility for assessing needs and paying for care from the Department of Social Security to Local Authorities. It gave the right to the Local Authorities to means test individuals to assess whether any financial assistance will be given. If you have assets valued at over £23,500 and require residential care, you are responsible for the costs and the Local Authority may obtain an order enabling the sale of assets including the home to meet the costs.
The property must be jointly owned as “Tenants in Common”. Each partner leaves their share of the property (usually 50%) in trust for children or other beneficiaries rather than to the joint owner of the property.
This means that the survivor never becomes sole owner of the property which prevents the Local Authority including the whole value of the property when totalling assets if the survivor needs permanent residential care. So the most that could be claimed against is the survivor’s half of the property.
Lasting Power of Attorney (LPA) – This document allows you to appoint people that you trust to make decisions for you if have lost your mental capacity through illness or an accident. Without this in place families can face enormous difficulties in handling your affairs at a difficult time. An LPA can be used to delegate decisions relating to personal welfare, including health care and medical treatment decisions, as well as decisions about financial matters
More information coming soon.
More information coming soon.
Anglian Will Writing
Suite 2 Wensum Mount Business Centre
Low Road, Hellesdon
Norwich
NR6 5AQ
Email Address:
enquiries@anglianwillwriting.co.uk
Telephone Number:
01603 865220