May 10, 2019 | Posted by : J Morris
Chances are, if you’ve already made a Will, it was filed away long ago and more or less forgotten about. However, every so often, circumstances change, or situations arise that mean amendments need to be made, otherwise your wishes may not be accurately represented.
If you’ve been through a major life change lately – for example: moving house, getting divorced, gaining a grandchild – you may want to adjust your Will accordingly. Check the following list for general guidelines on when to consider updating your Will:
A change in marital status
Relationships change over time, and any new partners or changes to your marital circumstances need to be reflected in your Will if you want the right people to inherit when ...
March 25, 2019 | Posted by : J Morris
Informal arrangements with relatives’ finances may seem like a sensible way to manage ageing parents’ accounts and welfare, but without proper Lasting Powers of Attorney (LPA) in place, these arrangements can easily be abused, or cause serious issues after death.
According to research by the Co-op, 25% of people aged 45+ have access to the finances of a relative who isn’t their spouse – for example, their parents, siblings, aunt or uncle. Around 10% of these had a formal arrangement via a joint account, and a fifth had direct access to online banking accounts or a relative’s bank card. In most cases, these figures represent family members taking care of issues ...
March 05, 2019 | Posted by : J Morris
A shocking two-thirds of British adults do not have a Will, 40% of which are over the age of 55. We get it. No one wants to think about the worst case scenario, but there comes a time when you have to stop putting it off and start putting your affairs in order. End of life legal documentation is essential if you want to take care of your loved ones – and yourself – in the future:
If you die without a Will in place, your family may be left with financial or legal difficulties when it comes to inheritance, guardianship, the distribution of your assets, and paying inheritance tax.
If you fall ...
August 16, 2018 | Posted by : J Morris
You wouldn’t hesitate to insure your car, your home, or your most prized possessions – so why do people put off making a will and setting up powers of attorney? For some, the thought of ‘putting their affairs in order’ might feel overwhelming, morbid, or scary. Others may (erroneously) believe the process is complicated, lengthy, or expensive. And others may simply be living in blissful denial, thinking (or hoping) that the worst will never happen.
A frankly staggering two-thirds of Brits currently don’t have a will, with almost half (40%) of those aged over 55. If you die without a will in place, your family may be saddled with ...
January 27, 2018 | Posted by : J Morris
One of the most important parts of making a will is appointing an executor who you trust to manage your affairs after you’re gone. This is a big decision and your first step should be to speak to an experienced solicitor about drawing up a will, making probate arrangements, and organising lasting powers of attorney (LPA).
To help you, here’s some advice on what an executor’s responsibilities are and how to choose the right person from the expert family law solicitors at Frances Lindsay & Co:
What does an executor do?
An executor is somebody you appoint to handle the arrangements and wishes you’ve set down in your ...
December 19, 2017 | Posted by : J Morris
Most of us recognise the importance of making a will, but few people consider arranging lasting powers of attorney – an added element of security and reassurance should you find yourself unable to handle your own affairs in the future.
There are two lasting powers of attorney to consider: one that deals with property and affairs, and another that covers your health and welfare. Both these powers operate during your lifetime and can be used if you become unable to organise your own affairs due to declining health, dementia, or in the event of an accident.
Health and welfare powers of attorney enable you to give a directive as to what ...
June 05, 2017 | Posted by : J Morris
A professional Will helps to protect your loved ones and your assets after you’re gone, but it’s also important to make sure you own interests are looked after should you find yourself unable to make decision about your future. A Lasting Powers of Attorney (LPA) document is vital to ensure your affairs are handled according to your wishes if your ability to do so is affected by illness, injury or old age.
To find out more about arranging Lasting Powers of Attorney, read our FAQs below or get in touch with our friendly wills and probate team at Frances Lindsay & Co:
What does Lasting Powers of Attorney ...