Wills and Power of Attorney

Knowing that you have an up to date Will in place provides total peace of mind that your wishes will be carried out and that your wealth will be passed on as you would want. Many people are still unaware that the default legal position in the case of intestacy can result in wealth passing in ways that the individual neither expected nor desired.

A Will forms only one part of the planning process which should also incorporate tax planning for maximum efficiency. The inheritance tax 'nil-rate band' now automatically transfers between spouses and civil partners, but not cohabitees – our guide to the Transferable Nil Rate Band highlights some of the key issues and why it is still important to consider tax efficiency under Wills. There are also wider asset protection issues to be considered, particularly in relation to young beneficiaries and instructions about the care of children should also be addressed.

Powers of Attorney appoint individuals to look after your affairs if you are unable to do so. Rather than leaving the decision to the Courts, putting a Power of Attorney in place ensures that you are in control of who is appointed and with what powers, eradicating potential sources of worry.