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Estate Planning Solicitors in Fareham
Planning for the future is one of the most important things you can do to secure your future for your loved ones, and ensure your wishes are heard.
Our Estate Planning Solicitors in Fareham can offer you pragmatic and practical advice tailored to your own circumstances.
Writing your Will
There are so many sensible reasons why you should have a Will in place, however we understand that this will not be an easy discussion to have or contemplate. Without a Will, you would die intestate, meaning that your estate would be distributed according to intestacy rules, which may not necessarily be in line with your own wishes, particularly if you are an unmarried couple or you have children from previous relationships for example.
As well as distributing your estate according to your own wishes, the other reasons for making a Will include:
- It allows you the opportunity to review your Inheritance Tax arrangements
- You can appoint appropriate guardians for your children and decide at what age they will inherit
- You can choose your own Executors, who are those individuals that you trust to administer your estate
- You can accommodate any changes in your life, such as second marriages, a divorce, a new grandchild etc.
Our expertise goes beyond helping you write a Will. Once we have discussed your personal situation with you, we will then have a better understanding as to the best option for you, and whether you wish to consider other factors such as helping your survivor with care home fees or Inheritance Tax. You may find that a Life Interest Trust Will would help secure their future.
Why should I have a Lasting Power of Attorney?
Similar to writing a Will, having a Lasting Power of Attorney (LPA) in place can protect your future as it allows you to appoint an attorney or attorneys to manage your affairs should you lose mental capacity to do so yourself, for example if you develop dementia or suffer a stroke.
We can explain to you the difference between a ‘financial decisions’ and a ‘health and care decisions’ LPA and review whether either of these would be preferable to an Advanced Directive.
Without an LPA in place, you may be called upon to be appointed as a loved one's Deputy. This is a complicated role and one which comes with many responsibilities; we can explain these to you at this already difficult time, helping you understand what you can and cannot do as a Deputy and how long it may take to apply.
What Trusts are open to me?
As part of your estate planning, we can discuss whether placing part of your estate into a Trusts may be beneficial. There are three main varieties of Trust and we can explain the benefits of each to ascertain which would be the most appropriate for you and your family. We can also assist in your role as a Trustee, explaining to you your responsibilities and duties.
Can I make gifts to a loved one?
As you can see, there are many different considerations to make when planning for your future, which takes time, knowledge and a real understanding of the tax implications. Our Solicitors are experienced in all matters of estate planning, able to think several steps ahead to mitigate the risk of complications along the way. You will leave us feeling confident that every eventuality is accounted for and that your family will be secure in the future.
When making the initial enquiry you made a very good first impression, which stood out from the other 3 firms I called. You were not the cheapest option but this differentiated you from you competitors.
In addition to making plans for your future, our Solicitors in Fareham can also assist with:
- Probate and estate administration following the death of a loved one
- Challenging a Will
- Managing your affairs and Court of Protection
You may also be interested in the following resources:
To book your appointment today, contact us on 01329 222075 or email email@example.com.