Wills and Lasting Power of Attorneys (LPAs)
Whether you would like to draft a simple Will, or prepare for the future with effective tax planning or preparing powers of attorney, here at Taylor Brown our specialist solicitors offer expert guidance and advice to ensure your estate and loved ones are protected in accordance with your wishes.
Why do I need to write a Will?
It is important to make a will, regardless of your personal assets and circumstances. This is because:
- If you die without a will, there are regulations which can determine how your assets are distributed, which may not be in line with your wishes.
- Unmarried partners cannot inherit from each other unless there is a will, which may create issues for your surviving partner.
- If you have children, your will can provide a plan for the care for them after your death.
- If planned for in advance, your family may not have to pay a large inheritance tax bill.
Why choose Taylor Brown Solicitors?
- Our solicitors offer free (and friendly) initial advice
- We store your Will and LPAs securely and safely, free of charge as part of our service
- We offer home, hospital and care home visits
What is a Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) is an important part of planning for your future. It allows for someone important to you, to make decisions on your behalf when you are no longer in a position to do so. For example, if you lose mental capacity through illness or serious injury.
What are the types of Lasting Power of Attorney?
There are two types of LPA, these are:
- Health and Welfare LPA: used to make decisions about where you live, as well as any health care and medical treatment you may need to receive including life-sustaining treatment.
- Property and Financial Affairs LPA: used to make decisions about your bank and savings accounts, paying your bills and buying or selling your house.
Why should I make a Lasting Power of Attorney?
Failing to make a Lasting Power of Attorney before you lose mental capacity can have a damaging impact on you and your family, creating a costly process of applying to the Court of Protection to make any decisions about your healthcare or finances.
Here at Taylor Brown, we can ensure your LPAs are registered and ready for any eventuality so that your family does not have to make an application to the courts at an already difficult time.
What happens if I don’t make a Lasting Power of Attorney?
If someone does not have an LPA and they lose capacity, then we can help you apply to the Court of Protection to become a ‘deputy.’
What is the Court of Protection?
The Court of Protection can make decisions on financial, or welfare matters for people who lack the mental capacity to do so themselves, through the assignment of deputies.
There are two different types of deputies:
- A ‘Property and Financial Affairs’ Deputy to make decisions about your bank and savings accounts, paying your bills and buying or selling your house.
- A ‘Personal Welfare Deputy’ to make decisions about matters such as where someone lives and the medical treatment they might need.
How to become a Deputy:
Applying to become a Deputy can be a complicated process with a number of forms to complete, which we can assist with through our legal expertise.
Once you have been appointed as a Deputy you will be required to complete an annual report detailing all assets owned by the person to whom the Deputyship Order relates to, which we can also assist with as part of our service.