It’s staggering, but figures show that 2 out of 3 adults in the UK don’t have a Will. Should the worst happen, their loved ones wouldn’t have a say in how their assets and valued possessions would be distributed.
Writing a will is an expression of ‘individuals’ wishes and allows people to state how they wish their estate to be distributed after death. However, writing a will in itself does not protect assets but makes allowance for the formation of trusts which can then be used to protect the family’s assets.
To die without writing a will is to die Intestate. A written will is one of the most important documents that a person ever prepares. Writing a will can protect your property from long-term care costs. Writing a will can help ensure that your spouse, children, family, friends or your charity are provided for.
Types of Wills
- Single or Mirror Wills - This is a Will stating the wishes of an individual person.
- Protective Property Wills - These Wills protect a property from the consequences of the Community Care Act of 1990.
- Inheritance Tax saving Wills - This is a Will that is worth considering if you and your Spouse are in a position to save on IHT.
- Living Wills - (also called Advance Directive Wills) – This type of Will expresses the wishes of a person who may be suffering from a severe medical condition and is designed to assist both the family and medical staff.
Establishing Trusts
These are some of the more common Trusts we can help establish.
- Discretionary Trusts
- Children or Grand children’s Trusts
- Disabled Person’s Trust
If you contact us by either phoning or email we can arrange an appointment at a time and place to suit you so that we can discuss our full range of services, it will become clear which ones best suit your needs.
A cost estimate is prepared and you will make a decision whether to instruct Rose & Rose to act on your behalf.
Assuming you wish us to act, we would then build up a picture of your personal circumstances with a financial health check.
At the end of the instruction we prepare a Will that:
- Reflects your personal wishes for the distribution of your estate.
- Protects your family home from sale.
- Allows specific gifts to be given to named recipients.
- Provides provision for unmarried couples and stepchildren.
- Allows for the appointment of guardians.
- Allows for the creation of suitable Trusts.
Lasting Powers of Attorney
We provide advice on establishing Lasting Powers of Attorney. Who would manage your affairs should you become incapable due to a stroke, dementia or alzheimer’s? Who will sign cheques, documents, withdraw money from your account to pay the bills? Unless you have a Lasting Power of Attorney in place. You may end up with your partner going to court for permission to handle your affairs. All of these problems can be resolved by putting a Power of Attorney in place. This allows for the appointment of someone to look after either your financial and/or personal affairs if you become incapacitated for any reason.
Bereavement Administration – Probate
Dealing with the numerous matters involved with a person’s estate can be an extremely daunting task, especially for someone who has recently lost a loved one. Rose & Rose are experienced in this field. Our clients find our services caring, professional and efficient.
