Wills and Legacy

Portrait of family couple, a young zoomer and his old grandfather smiling looking at side

Securing
your future

Fill in our form below and one of our friendly advisors will be in touch.

Personalised Guidance

Tailored financial advice to meet your unique goals and circumstances.

Comprehensive Solutions

A wide range of services covering retirement, investments, estate planning, and insurance.

Expertise and Trust

Experienced advisors with in-depth knowledge, operating transparently with your best interests in mind.

Cute couple of old people sitting on the sofa using laptop together shopping and surfing the net.

What is
Wills and Legacy?

Wills and legacy planning involve creating a comprehensive strategy to manage and distribute your estate according to your wishes after your death. This includes drafting a legally binding will, setting up trusts, and making arrangements for the care of dependents. It ensures that your assets are passed on to your chosen beneficiaries in a tax-efficient manner, reducing the potential for disputes and providing peace of mind that your legacy is preserved and your loved ones are taken care of. Effective wills and legacy planning also consider various contingencies and provide clear instructions for the management of your estate, safeguarding your legacy for future generations.

Wills

A will is a legally binding document that outlines your wishes for the distribution of your assets and the care of any dependents after your death. It allows you to specify who will inherit your property, money, and personal belongings, and can also appoint guardians for minor children. Creating a will ensures that your estate is managed and distributed according to your wishes, minimizing the potential for disputes among beneficiaries and providing clear instructions for the administration of your estate. A will can also include provisions for charitable donations and special instructions for funeral arrangements, offering peace of mind that your final wishes will be respected.

family in home
Woman waiting for doctor in hospital

Lasting Power of Attorney

A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint one or more people (known as attorneys) to make decisions on your behalf if you become unable to do so yourself. There are two types of LPAs:

  1. Health and Welfare LPA: This allows your attorney to make decisions about your daily care, medical treatment, and living arrangements.

  2. Property and Financial Affairs LPA: This allows your attorney to manage your finances, such as paying bills, managing bank accounts, and selling property.

Setting up an LPA ensures that your preferences are respected and that trusted individuals can step in to manage your affairs in accordance with your wishes, providing peace of mind and continuity of care.

Trust Planning and Asset Protection

Trust planning and asset protection involve creating legal structures to manage and safeguard your assets for the benefit of your chosen beneficiaries. A trust is a legal arrangement where a trustee holds and manages assets on behalf of the beneficiaries according to the terms set out in the trust document. Trusts can be used for various purposes, including:

  1. Protecting Assets: Shielding your assets from creditors, legal claims, and potential future liabilities.
  2. Minimizing Taxes: Structuring your estate to reduce inheritance and other taxes, ensuring more of your wealth is preserved for your beneficiaries.
  3. Managing Inheritance: Controlling how and when your assets are distributed, such as providing for minor children or setting conditions for beneficiaries to receive their inheritance.

Effective trust planning and asset protection can provide peace of mind that your wealth is secure and will be distributed according to your wishes, helping to protect your legacy and provide for future generations.

Trust, word as banner headline
TAX words on palm hands against the tax forms.

Landlord Planning

Landlord planning involves strategic management and preparation for property owners who rent out their properties. This type of planning ensures that landlords are maximizing their investment returns while complying with legal and regulatory requirements. Key aspects of landlord planning include:

  1. Tax Efficiency: Structuring property ownership and rental income to minimize tax liabilities, such as through the use of limited companies or trusts.
  2. Property Maintenance and Management: Developing a proactive approach to property maintenance, tenant management, and compliance with health and safety regulations to protect your investment and maintain property value.
  3. Succession Planning: Establishing a clear plan for passing on rental properties to heirs, including considerations for inheritance tax, property transfers, and management continuity.

Effective landlord planning helps property owners optimize their rental income, protect their investments, and ensure a smooth transition of assets to future generations.

Frequently Asked Questions

A will is a legal document that outlines how you want your assets distributed and who will care for your dependents after your death. It ensures your wishes are followed and helps prevent disputes among your beneficiaries.

If you die without a will, your estate is distributed according to intestacy laws, which may not reflect your wishes. This can lead to delays, higher costs, and potential disputes among your family members.

An LPA is a legal document that allows you to appoint someone you trust to make decisions on your behalf if you become unable to do so. There are two types: one for health and welfare decisions and one for property and financial affairs.

  1. Trust planning involves setting up legal structures to manage and protect your assets. Trusts can shield your assets from creditors and legal claims, minimize taxes, and control how and when your assets are distributed to beneficiaries.

Yes, you can update your will or LPA at any time, as long as you are mentally competent. It’s important to review these documents regularly and make changes to reflect your current wishes and circumstances.

Landlord planning helps property owners maximize their rental income, manage their properties effectively, and plan for the future transfer of their assets. It includes tax-efficient strategies, maintenance planning, and succession planning.

To ensure your will and legacy plans are legally sound, work with a qualified legal advisor who specializes in estate planning. They can help you draft, review, and update your documents to ensure they meet legal requirements and accurately reflect your wishes.