Later Life Planning
Most people want to leave their families both the maximum inheritance and the minimum hassle. They also wish to ensure that should they lose their mental capacity, their loved ones can look after their affairs.
Lasting Powers of Attorney
If you lose your mental capacity, someone needs to be appointed to make your decisions on your behalf. There are two options: Pick your own person whilst you have capacity or let the Government pick one for you when you lose capacity.
If you pick someone whilst you have capacity, they are called an attorney and they work for you.
If the Government picks someone, they are called a deputy and they work for the Court of Protection i.e. the Government.
Losing mental capacity without a Lasting Power of Attorney (LPA) in place means dealing with the Court of Protection. This can prove to be expensive, time consuming and emotionally draining.
Our firm have been setting up LPAs (formerly EPAs) for our clients since 2003.
Planning For Care Home Fees
When moving into, or helping a loved one into a care home, you need to fully understand about costs and affordability, including what the state provides. Paying for a care home place is often a family concern and it may be essential for everyone involved to have a good understanding of the issues.
Wills
Talking about Wills and Lasting Powers of Attorney is a depressing subject, however not having one when you need one is even more depressing, especially for your family. We believe that EVERYONE should put their affairs in order before they die or lose mental capacity.
A carefully drafted Will can help reduce the amount taken from the Estate for care fees and Inheritance Tax.
Our firm have been writing Wills for our clients since 2003.
Probate
You are being asked to deal with something you know very little about at a time when you are emotionally drained. Solicitors and banks can offer a fixed price service which will take the stress of estate administration away from you.
However, you will pay handsomely for this. For example, a leading high street bank will charge 4% plus vat on the first £500,000 of your estate. Solicitors might charge around 3% plus vat of the estate and/or hourly rates.
We have teamed up with a leading probate specialist who offer a fixed fee of 1.5-1.75% to administer the estate of your loved one. These fees are exclusive of VAT. They will take responsibility for the estate administration. They charge 1.5% if they are stated in your Will or 1.75% if they are appointed on your death.
We can also introduce you to a local solicitor who offers her probate services for a fixed fee. For clients who want to do the estate administration themselves, but need help with the grant and probate application, her service is ideal.