Most people put off making a Will for a variety of reasons, either believing that the people they would wish to inherit will automatically do so, or because they don’t think it is relevant to them at this time. The reality is that you can put off making a Will until it is too late, and this poses all sorts of problems for the people left behind and could mean that some or all of your inheritance either goes to the wrong person or to the state.

Firstly, and most importantly is the peace of mind making a Will provides. Making a Will enables you to plan exactly what will happen to your property (estate) following your demise. This ensures that those you would like to benefit do so, in accordance with your wishes and at the same time avoiding any possible disputes between relatives.

A Lasting Power of Attorney (LPA) is a legal document that lets you appoint one or more people to make decisions on your behalf.

There may come a time in your life when you are unable to manage your financial affairs or personal welfare, owing to some form of incapacity. Even when we are young, we can find ourselves capacitated owing to illness or injury and it can be invaluable having a reliable person, who is able to manage your personal affairs and remove the anxiety of having unpaid bills, at a time when you most need peace of mind. Similarly, as we get older, the need for an attorney increases as we are more prone to illness ​and injuries. By creating a Lasting Power of Attorney in advance, ensures that if the worst were to happen, you can rest assured that both your financial affairs and personal welfare are in safe hands

Without the correct “Bloodline Planning” (Trusts) some, or all your children’s or grandchildren’s (bloodline’s) inheritance could be lost.

Protecting your inheritance for future generations is commonly referred to as “Bloodline Planning”. Bloodline Planning (Trusts) is ensuring that your assets reach your children, grandchildren, and other relatives, rather than ending up in the wrong hands! When assets are distributed to beneficiaries “absolutely”, (i.e., they receive cash, property, or other assets as a direct lump sum payment) so much can be lost. These assets are then considered to be part of the beneficiary’s estate and would be at risk of attack from any future divorce settlements, creditors, and taxation.

The strategic use of Trusts can ensure that your children and grandchildren are able to benefit completely from the inheritance you want them to receive. Without the correct Estate Planning, your wealth can be under threat by the following risks that face all clients should they have a simple Will that distributes assets absolutely, or no Will at all.