Wills - Lasting Powers of Attorney - Trusts - Funeral Plans - Estate Planning
Wills - Lasting Powers of Attorney - Trusts - Funeral Plans - Estate Planning
We are all going to die at some stage. It simply makes good sense to ensure that before we go we make proper provision for what we own. This could be property, investments, savings, insurance policies and material possessions. Collectively, these are known as our estate.
Well, yes, a Last Will and Testament (Will) is a document laying out the provisions a person wants to make for when they pass on. However, there are many other products that form part of Estate Planning: Lasting Powers of Attorney, Asset and Home Protection Trusts and Funeral Plans to name but three.
It hardly bears thinking about but it is important that we do think about this. If anything should happen to you and you are no longer in control of your mental capacity, it will be too late to appoint a loved one or a trusted friend to make important decisions on your behalf. The time to act is now whilst you still have the capacity.
In the United Kingdom, there are two forms of Lasting Power of Attorney: for Property and Affairs and for Health and Welfare. Both forms must be registered with the Office of the Public Guardian in order to be valid.
Most Eurowills Consultants are able to take instructions and draft Lasting Powers of Attorney (LPAs). Click here to find your nearest consultant.
Need some persuading? Have a read here about Heather Bateman's story.
Eurowills consultants benefit from the expertise and experience of David Cochrane. Based at Eurowills' head office, David has worked in Succession Law for over 40 years and has seen it all. In fact, he's written The Willwriters' Handbook, available here on Amazon UK.
Who better for your consultants to be able to confer with over your individual circumstances?
There are plenty of reasons why home owners might consider an Asset and Home Protection Trust. The issue of saving the value of your property from being used to pay for care home fees is certainly one consideration, but by no means the only one. If you'd like to read more about this very issue, you can do so here.
No, but as in most matters where there is a range of products available, there is merit in taking the time to assess which product is most suitable to cover the funeral you want. You may realise that some products out there are over-priced or do not meet your needs.
The main reason that Funeral Plans have become prevalent is that the cost of funerals has risen and continues to rise well above the level of inflation and people are choosing to make regular (or one-off) payments to cover the cost of the funeral they wish to have whilst they are still alive so as to avoid their spouse and children picking up the costs at what is already a very difficult time for them.
Written by Eurowills' own Edd King and David Cochrane, The Willwriters' Handbook is the go-to guide to drafting Wills, Trusts and other important Estate Planning documents. Available on Amazon UK here.
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