Estate Planning services Milton Keynes
What is your estate?
EVERYBODY has an estate. It comprises everything you own— your car, home, savings, investments, life insurance, furniture, personal possessions, death-in-service benefits. And you cannot take it with you when you die, this is where estate planning services Milton Keynes can help..
You probably want to control how these things go to the people you care about. To do this, you need to provide instructions stating whom you want to get what & when. You’ll probably also want this to happen without paying large sums in tax, legal fees and court costs.
This is estate planning.
An estate plan comprises three elements: –
A Will: everyone who has children or owns property should have a valid up-to-date Will. If you do not have any will then what happens to your estate is determined by the Intestacy Rules - and is unlikely to be what you have wanted.
Lasting Powers of Attorney: these enable you to nominate people you trust to manage your affairs if you become unable so to do at any time through accident or illness. They are essential.
Trusts: are used to protect your assets and ensure they pass to whom you want at the right time. There are two main types: (a) one that’s built into your Will which can give you some basic protection and certainty and (b) one set up whilst you are still alive and provides you and your family with the maximum protection.
Estate planning is something that can be developed over time. Having a valid up-to-date Will and Lasting Powers of Attorney is the starting point!
A valid up to date Will is vital and having Lasting Powers of Attorney is essential. These are the foundations of your estate plan.
On top of those foundations sits the estate plan, in the form of either a Will Trust or, preferably, a Home Protection Trust.
Most people want to maximise the wealth passing down to their loved ones and and most acknowledge that a family trust is something they would like to do at some stage.
We fully understand this so will work with you to develop a bespoke estate plan for you that meets your current position, circumstances, wishes and budget. Many of our clients who initially did basic estate planning come back and do full estate planning when they acquire more property or cash or inherit from their own parents or other benefactor.
We come to you at no extra cost. At Last Wishes Ltd we work with you to form your estate plan.
Remember that some estate planning is always better than none. But whatever you choose to do we will work with you to lay the foundations now and agree a time-scale to progress your wishes at the appropriate time for you. We cover Milton Keynes and all surrounding areas.
A final word; the earlier you plan the more effective it will be.
What are Estate planning services Milton Keynes?