Working closely with Legal Professionals as Associates, our trained Advisers can help you to organise Wills, Trusts, Lasting Powers of Attorney and access to low-cost Probate services.
Wills
Making a will is the only way to ensure that your wishes are met after you die. When it comes to making a Will, it is essential to have a properly written will. Making sure your will is written and signed properly makes things a lot easier when the time comes for your estate to be distributed and if things are not done correctly, it can create problems for your loved ones to sort out as well resulting in higher legal costs.
Badly drafted or outdated wills can lead to disagreements among loved ones and these disputes may need to be resolved by a solicitor. Your will should remove any doubt about who you want to benefit from your estate and can help avoid further stress for family and friends at an already difficult time.
Wills can also protect the assets that make up your estate for future generations. A well-structured will can ensure that assets are kept within the family and passed on. You can also use your will to record your funeral preferences.
Trusts
A trust can be a good way to cut the tax to be paid on your inheritance you will leave. But you need professional advice to get it right. Trusts provide protection and manage your assets (money, investments, land or buildings) to maximise the value that is passed onto your loved ones, giving peace of mind and assurance.
Lasting Powers of Attorney
A lasting power of attorney (LPA) is a legal document that lets you (the ‘donor’) appoint one or more people (known as ‘attorneys’) to help you make decisions or to make decisions on your behalf. This gives you more control over what happens to you if you have an accident or an illness and cannot make your own decisions (you ‘lack mental capacity’).
We can help you set up an LPA to ensure the people you trust are able to make Financial and Welfare decisions on your behalf should you become unable to through accident or affliction, as opposed to your Local Authority.
Probate
Probate is the entire process of administering a dead person's estate. This involves organising their money, assets and possessions and distributing them as inheritance – after paying any taxes and debts. If the deceased has left a Will, it will name someone that they've chosen to administer their estate.
Birmingham Money is able to act as an Associate working with experienced legal professionals to alleviate the burden of this often-complex process at a fixed-fee cost to rival the high street providers.