Wills and Estate Planning
Getting a professional to draft your Will is would ensure that your assets are distributed in accordance with your wishes and not under the rules of intestacy which would otherwise apply. If you die without a Will, then the government will decide who will inherit your estate in accordance with the Laws of Intestacy and may differ from your wishes.
If you do not make provision for young children, then the authorities will decide who is best placed to look after them, which you may not like. It can also mean that your partner (if you are not married) does not automatically become guardian of young children.
It is also essential that Inheritance Tax is considered as the provisions of your Will can affect the future tax liability of your estate. We offer a personal service which is tailored to your own individual circumstances.
If you already have a Will, it is recommended that you review it every 2 to 5 years. Sometimes your wishes may not have changed, but the value of your assets and the law may have. As such it is very important to ensure that your Will does exactly what you want it to do; that it protects your assets and investments, and most importantly that you have taken advantage of various areas of flexibility within the law of estate planning. Wills for individuals will cost £225 plus vat (£270) and wills for couples will cost £375 plus vat
(£450).
Lasting Powers of Attorney (LPAs)
This is a legal document which allows you to appoint someone you trust (known as ‘attorneys’) to make decisions for you should you lose capacity in future to make such decisions yourself.
There are two types of LPAs namely: Property & Financial Affairs and Health & Welfare.
Property and Financial Affairs LPA
This LPA allows the Attorney to make decisions which relate to your property and affairs, so this could be paying bills, collecting benefits or other income, or even selling the Donor’s house
if you need to go into care (subject to conditions).
Health & Welfare LPA
This LPA allows the Attorney to make decisions on your behalf about your personal welfare. This could include making decisions about where you live, giving or refusing consent to life sustaining treatment, together with more day to day decisions relating to diet, daily routine or dress. It can only be used if you do not have the mental capacity to make these decisions yourself.
If you are 18 or over and have mental capacity (the ability to make your own decisions) when you make your LPA, we register the documents with the Office of the Public Guardian (OPG). You can revoke the LPA at any time, so long as you have the mental capacity to do so.
Our charges for LPA:
Single LPA (Finances or Health) will cost £400 plus vat (£450) and £82 OPG registration fees
Two LPAs (Finances and Health) will cost £550 plus vat (£660) and £164 OPG registration fees
Want to discover what we could do for you? Get a free consultation today!
“Dean Howard & Co has offered our company a first class service, in both qualitative and quantitative terms. The staff are helpful, courteous and responsive to the needs of our service. the principal partner, Mr Dean engaged in an academic research recently. exploring the difficulties facing access to business finance for small and medium enterprises and his input were tremendously beneficial, insightful, portraying his depth of knowledge of the academic orientations in the sector. We continually recommend his services to others who require an independent, professional service.”
