A crucial element of planning for an individual is the preparation of a Will,
A Will needs to be correctly drafted and regularly reviewed. The importance of this is two-fold. Firstly, it ensures that assets pass exactly as intended. If there is no Will, then statutory provisions, commonly known as the Intestacy Rules, will apply. This may result in assets being passed to unintended beneficiaries. Conversely, intended beneficiaries may not inherit – unmarried couples are especially vulnerable.
Estate Planning is often associated with Inheritance Tax mitigation.
Whilst tax considerations are important, Estate Planning goes beyond this and is intended to preserve, protect and pass on assets and family wealth in an appropriate manner. This involves assets passing to the correct people at the correct time. Asset protection and control of assets are also important considerations.
Being in business can be extremely rewarding but it's estimated that over 90% of SMEs are operating without having fundamental legal documentation in place. And by doing so they could be risking everything they've achieved and storing up potentially huge future issues.
The majority of people ask for a consultant to visit and collate the information for their Wills at home.
Our consultants are able to provide advice and guidance and answer many of your questions face to face.
Introduced to replace Enduring Powers of Attorney, Lasting Powers of Attorney are necessary should you be unable to manage your own affairs, through an accident, or some degenerative disease, which affects your faculties.
It is never too soon to prepare this document because when it is needed, by definition, you will be unable to sign it.
A living Will, or more correctly an Advance Directive, enables you to determine what level of medical support you receive, should you sustain a serious injury or contract an incapacitating illness, whereby you are unable to communicate with the carers yourself.
The Will Bureau is at the forefront of its profession. Over many years our staff have established The Will Bureau’s reputation for excellent service combined with sound practical advice and sympathetic attention to their clients’ needs.