Later Life Planning Hub
When it comes to planning for the future, thinking about what we would like to happen to us, our estate, or assets can be something we put off. After all, it seems morbid. However, planning for later life means that you and your loved ones will have as little to worry about as possible should you lose capacity or pass away.
Knowing where to start with later life planning is often the most difficult bit. That’s why our expert solicitors have created a Later Life Planning Hub; a place for you to find anything and everything you need when putting plans in place for your future.
From information on different types of Wills, to what you should consider when choosing an Executor or Beneficiary, to learning the differences between Enduring, Lasting and General Powers of Attorney, our Later Life Planning Hub has you covered.
Will Writing
You may think that you don’t need a Will because you’re married or you don’t have significant assets. However, no matter what your circumstances are, if you pass away without a valid Will in place, your estate may be distributed in a way you wouldn’t have intended and your loved ones could be left with a lot of administration and difficult decisions to make.
Our expert Will writing solicitors have a wealth of knowledge in preparing a range of Wills. From straightforward single or mirror Wills, to those involving trusts or significant assets. We can also review your existing Will, if you have one, which is important if you have recently gone through a change in circumstances such as moving house or having children or grandchildren.
Many of our Will Writers are members of the Society of Trust and Estate Practitioners (STEP) and several hold the STEP Advanced Certificate in Advising Vulnerable Clients and the STEP Advanced Certificate in Wills Preparation. We are also Lexcel accredited by the Law Society and independently regulated by the Solicitors Regulation Authority (SRA). All of this means that you will receive advice that is tailored to you from a friendly and experienced professional.
Useful links
- Blog: Should I leave my house to my children in my Will?
- Blog: Why should I get a solicitor to write my Will?
- Blog: Does dementia stop you signing a Will?
Trusts
A Trust is a way of preserving assets such as money and property for someone else. A ‘trustee’ holds and manages these assets for the benefit of another person (the ‘beneficiary’).
Trusts are beneficial for ensuring your loved ones get the maximum benefit from assets you have worked for or acquired during your lifetime. A common example is putting money into a Trust for a child, to be released when they turn a certain age or when certain conditions are met, e.g. they move into their first home.
Our Trusts solicitors can help with every aspect of creating and managing trusts, giving you complete peace of mind that everyone involved will get the maximum possible benefit in accordance with your wishes.
Powers of Attorney
Having a Power of Attorney in place means that friends or family can make decisions on your behalf and according to your pre-defined wishes. This is particularly important and useful should you lack mental capacity in the future.
Many people presume that if they lose mental capacity, their partner/spouse or next of kin can make decisions for them. Unfortunately, that is not the case. If you do not have a valid Power of Attorney in place and you are unable to make certain decisions, you or your family will need to apply to the Court of Protection.
Power of Attorney must be set up while you still have the ability to make decisions for yourself; this is why it’s important to set this up early on.
There are several types of Power of Attorney:
- Enduring Power of Attorney
- Lasting Power of Attorney (including Property and Financial Decisions, and Health and Care Decisions)
- General Power of Attorney
Having a specialist solicitor set up a Power of Attorney means that they can ensure the relevant forms are filled out and submitted correctly and that you’ve considered all options available to you.
Useful links
- Blog: Why do you need Power of Attorney?
- Blog: What’s the difference between a Lasting Power of Attorney and Deputyship?
- Blog: Do-not-resuscitate orders: are your wishes clear enough?
Probate and Estate Administration
When you pass away, your loved ones will need to apply for a grant of probate to make arrangements to administer your estate. This can often seem like a daunting prospect, especially after losing a family member or friend, however, having the right legal support on hand can make the process easier.
Whether your chosen Executor(s) needs help with providing the local probate office with your Will or advice on Inheritance Tax, our probate and estate administration solicitors can help ensure their duties are carried out properly.
Useful links
- Blog: DIY probate: a risk worth taking?
- Blog: The benefits of digital legacy services in estate administration
Court of Protection
The Court of Protection protects the rights of vulnerable people, including those who have lost mental capacity. It can appoint a Deputy to manage someone else’s affairs when they cannot do so themselves. A Deputy is usually a family member or friend, but our lawyers can also act as a Deputy (Professional Deputy) where required.
If you lose the capacity to make certain decisions and you do not have a valid Power of Attorney in place, your loved ones will need to apply to the Court of Protection to step in and help. However, you can also appoint a Professional Deputy if you do not have anyone suitable or willing to take on the responsibility of being an Attorney. This takes the pressure off your loved ones whilst ensuring that your wishes are adhered to after you have gone.
Useful links
- Blog: What is the Court of Protection and how can it help me?
- Blog: Gifts in the Court of Protection for Deputies and Attorneys
We’re a Dementia Friendly law firm
We’ve partnered with Bristol Dementia Action Alliance to do everything we can as a law firm to help clients with dementia. This includes making sure our solicitors are dementia aware, introducing clearer signage and producing dementia friendly literature.
Our Dementia Champion, Anna Molter, delivers information sessions to our staff and over 200 of us have chosen to become Dementia Friends.
Contact our later life planning lawyers in Bristol
Ready to start planning for the future? To talk to our friendly team about Wills, Powers of Attorney or any other aspect of later life planning, get in touch.
We work with clients across the UK from our offices in Bedminster, Bishopston, Bristol city centre, Kingswood and Thornbury. To book an appointment, call us on 0117 325 2929 or fill out our online enquiry form.