Wills
Without a Will, the government can decide who inherits a person’s possessions, property and money (estate) according to the Laws of Intestacy. A valid Will can ensure clients are able to make their decisions known when it comes to their estate.
Everyone over the age of 18 could benefit from having a Will, although almost two thirds of the UK adult population don’t have one that is valid. During the fact find with your clients, you should consider including a question on Wills.
- Make wishes known
- Ensure provision is made for dependants
- Incorporate charitable donations
- Make a difficult time a little easier for loved ones
Lasting Powers of Attorney
A Lasting Power of Attorney (LPA) allows clients to legally nominate someone with the authority to make decisions on their behalf should they lack the capacity or no longer believe they are able to do so. There are two types of LPA: Property and Financial Affairs, and Health and Welfare.
If your clients have a drawdown equity release plan, it could benefit them to set up a Financial Affairs LPA in order for someone to be able to access funds on their behalf, if ever required.
- Make wishes known
- Ensure they are appropriately cared for, should they fall ill
- Ensure their wishes are carried out by somebody they trust