There are four legal instruments that might be said to fall into this category (“Types of Power of Attorney UK”). In the context of estate planning, these are: General Power of Attorney. A short document requiring no special registration. Health and Welfare Lasting Power of Attorney. A document issued by the Office of the Public …
How much does a discretionary trust will cost?
How much does a discretionary trust will cost? Answers to the question “how much does a discretionary will cost?” may range from: “a few hundred pounds” to “the right to live in a family home”. Put another way, whilst there are certainly reasons to consider use of these instruments, there are reasons for caution too …
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How to get power of attorney for an elderly parent with dementia?
If you find yourself asking questions like “how to get power of attorney for elderly parent with dementia?” it may already be too late! Swift action may prove critical to the well being of your loved one. Get in touch with Confidence Wills (www.confidencewills.co.uk) or an alternative advisor IMMEDIATELY if you are in this position! …
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Why do I need a last will and testament?
The answer to the question: “why do I need a last will and testament?” may be as broad as: “because there are people I want to care for when I die”. The implications of failing to consider the question, however, maybe complex and far reaching. To ensure your estate passes to those you care most …
Is a last will and testament legally binding UK?
A will is arguably the only reliable means of distributing an estate on death. To be valid a will must meet certain criteria. Only the original will usually carries any legal weight (copies do not). Even where a will is valid, gifts within it may themselves fail. I would assert that a last will …
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Why do I need a trust if I have a will?
Why do I need a trust if I have a will? A will allows you to give your estate away when you die. Trusts separate the legal and beneficial ownership of assets. Combined, will based trusts, allow you to protect those you care for very effectively. The functions of trusts and wills are fundamentally …
Is it Best to Put a Will in a Storage Unit?
Is it Best to Put a Will in a Storage Unit? Only an original, properly signed will, carries legal weight, it must be protected. If a will is in the possession of the person making it, and is lost, it is assumed to be revoked. Storage so protects against wilful destruction and defacement of …
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Why do I need a will and a trust?
To ensure that your estate ends up with those you care about To ensure your property is not lost in the event your spouse remarries To insulate your estate from care fees and other creditors I shall restrict my answer to consideration of ‘will based trusts’ (as opposed to lifetime trusts), and within that …
What power does an executor of a will have in the UK?
Executors have a wide range of powers and responsibilities. They owe a duty of care to beneficiaries. Under limited circumstances, they may vary or withhold gifts. An executor can only be appointed by a will (otherwise an ‘administrator’ is installed by the courts). The responsibilities of the executor are quite wide-ranging, and the powers …
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WHO CAN BE AN EXECUTOR OF A WILL?
Anyone over the age of 18 and of sound mind can act as an executor Executors are often beneficiaries of a will Many opt for a professional executor, although costs vary An Executor is the person named in your will who, will be responsible for ensuring that your estate is organised and distributed in …