Wills & Estate Planning

Wills & Estate Planning

Our Services

We offer estate planning including wills, lasting power of attorney, property trusts and prepaid funeral plans and are based in Barry, South Wales.

 

Wills

A legal document that specifies who inherits what; A properly drafted a Will can avoid complications and disputes after you die.

Don’t die intestate – Without a Will! Intestacy rules are lengthy and complex and could result in those who you had hoped to benefit from your estate missing out, as the courts may decide who gets what.

Lasting Power of Attorney

A legal provision that enables you to appoint someone to make decisions on your behalf should you lack mental capacity sometime in the future.

There are two types to consider:

Property and Financial Affairs

This enables decisions about things like:

  • money, tax and bills
  • bank and building society accounts
  • property and investments
  • pensions and benefits

Health and Welfare

This enables decisions about things like:

  • routine, for example washing, dressing and eating
  • medical care
  • where the donor lives

A person’s risk of developing dementia rises from one in 14 over the age of 65 to one in six over the age of 80.

Source; alzheimers.org.uk

Property Trust and Severance of Tenancy

This Trust would be created whilst living, usually by dividing property ownership 50/50. Here upon first death their share of the property is placed into the trust and administered by the appointed Trustees.

The will specifies who is to be the ultimate beneficiary of this share in the property. The surviving partner, under the terms of the Trust, has the right to remain living in the property for the rest of their life (conditions can apply). On the death of the second partner the Trust comes to an end and the property passes absolutely to the beneficiaries. The surviving partner does not own the deceased’s share of the property, therefore it does not form part of their estate.

 

 

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