Below you will find examples of advice typically given to clients. Please remember however, that any advice given will be tailored to your EXACT needs and that what follows must NOT be construed as advice, only as examples for guidance.
You will notice that in many cases the advice is similar; this is because in many cases the overall advice will be similar, but the content of the Wills and any other documents prepared will of course be completely different.
Typical client |
Recommendations |
Reasons |
| Business owner-sole trader |
Wills |
To ensure that the estate passes to the beneficiary/ies as efficiently as possible |
| |
Lasting Power of Attorney |
To ensure that if someone becomes incapable, their affairs will be dealt with by people they choose. |
| |
Storage |
So that any updates are free of charge (except for a small annual fee.) |
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Funeral Plans |
Prepaid funeral plans, valid for life. The cost, once paid will never increase. |
| Business owners-Ltd Company or Partnerships or LLP |
Wills |
To ensure that the estate passes to the beneficiary/ies as efficiently as possible |
| |
Lasting Power of Attorney |
To ensure that if someone becomes incapable, their affairs will be dealt with by people they choose. |
| |
Storage |
So that any updates are free of charge (except for a small annual fee.) |
| |
Funeral Plans |
Prepaid funeral plans, valid for life. The cost, once paid will never increase. |
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Cross-Option agreements including Discretionary Trusts. (One for each shareholder/partner) |
VERY IMPORTANT; To ensure that the shares of the business pass to the right people and that the value of the shareholding goes to the family |
| Divorced/separated/
Remarried clients |
Wills |
To ensure that the estate passes to the beneficiary/ies as efficiently as possible |
| |
Lasting Power of Attorney |
To ensure that if someone becomes incapable, their affairs will be dealt with by people they choose. |
| |
Storage |
So that any updates are free of charge (except for a small annual fee.) |
| |
Funeral Plans |
Prepaid funeral plans, valid for life. The cost, once paid will never increase. |
| Young families |
Wills (with Property Trust if applicable.) |
If one person should decease, their share of the home goes into a trust. This guarantees that it will go to their chosen beneficiaries-children from a first marriage for example-while allowing the survivor to live in the home for the rest of their life. |
| |
Lasting Power of Attorney |
To ensure that if someone becomes incapable, their affairs will be dealt with by people they choose. |
| |
Storage |
So that any updates are free of charge (except for a small annual fee.) |
| |
Funeral Plans |
Prepaid funeral plans, valid for life. The cost, once paid will never increase. |
| Elderly/retired clients |
Wills with Property Trust OR Lifetime Asset Trust |
The Property Trust in the Will protects half of the home; the Lifetime Asset Trust protects ALL of the home against being swallowed up by care costs. |
| |
Lasting Powers of Attorney |
To ensure that if someone becomes incapable, their affairs will be dealt with by people they choose. |
| |
Storage |
So that any updates are free of charge (except for a small annual fee.) |
| |
Funeral Plans |
Prepaid funeral plans, valid for life. The cost, once paid will never increase. |
| Single-no children |
Wills |
To ensure that the estate passes to the beneficiary/ies as efficiently as possible |
| |
Lasting Powers of Attorney |
To ensure that if someone becomes incapable, their affairs will be dealt with by people they choose. |
| |
Storage |
So that any updates are free of charge (except for a small annual fee.) |
| |
Funeral Plans |
Prepaid funeral plans, valid for life. The cost, once paid will never increase. |
| Single-with children |
Wills |
To ensure that the estate passes to the beneficiary/ies as efficiently as possible |
| |
Lasting Powers of Attorney |
To ensure that if someone becomes incapable, their affairs will be dealt with by people they choose. |
| |
Storage |
So that any updates are free of charge (except for a small annual fee.) |
| |
Funeral Plans |
Prepaid funeral plans, valid for life. The cost, once paid will never increase. |
| Widows/widowers |
Wills |
To ensure that the estate passes to the beneficiary/ies as efficiently as possible |
| |
Lifetime Asset Trust |
The Lifetime Asset Trust puts the WHOLE property into a Trust and thereby protects it from being swallowed up by care costs.
|
| |
Lasting Powers of Attorney |
To ensure that if someone becomes incapable, their affairs will be dealt with by people they choose. |
| |
Storage |
So that any updates are free of charge (except for a small annual fee.) |
| Co-habiting |
Wills with Property Trust |
VERY IMPORTANT; if assets are not jointly owned then they will NOT go to the survivor, even if you have lived together for a very long time. The Property Trust ensures that the right beneficiaries will inherit from each side. |
| |
Lasting Powers of Attorney |
To ensure that if someone becomes incapable, their affairs will be dealt with by people they choose. |
| |
Storage |
So that any updates are free of charge (except for a small annual fee.) |
| |
Funeral Plans |
Prepaid funeral plans, valid for life. The cost, once paid will never increase. |
| Married with children |
Wills-we would discuss the Property Trust |
To ensure that the estate passes to the beneficiary/ies as efficiently as possible |
| |
Lasting Powers of Attorney |
To ensure that if someone becomes incapable, their affairs will be dealt with by people they choose. |
| |
Storage |
So that any updates are free of charge (except for a small annual fee.) |
| |
Funeral Plans |
Prepaid funeral plans, valid for life. The cost, once paid will never increase. |
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