Planning for the future and what will happen to your estate is of paramount importance
Although it is an inevitable part of life, most of us feel uncomfortable thinking about and discussing our own death, which is why some 60% of adults in the UK have not made a will or planned for their old age. This can leave loved ones very exposed to sudden changes of circumstance; for example, have you thought about what will happen to your home or who will deal with your finances if you pass away or are suddenly unable to manage your own affairs? Have you considered how you would meet nursing costs if you had to move into a care home?
If you have not made a will, dying intestate (without a will) can not only cause unnecessary complications for relatives left behind, but it also means that your wishes regarding your personal property may not be fulfilled. In addition, your family's wealth will not be protected in the most advantageous way to limit tax consequences.
Osmond and Osmond's Approach to Wills & Probate
Our specialist wills and probate solicitorsalways take the time to fully understand your family's circumstancesso we can give you the best advice possible. Whether this relates to inheritance tax issues, will drafting or considering whether a power of attorney arrangement is a sensible option.
Through a power of attorney, you can authorise someone else to manage your finances, property and care decisions. They are often used to give authority to someone else in the event that you become unable to manage your own affairs. If you do become unable to manage your own affairs, you can no longer create a power of attorney, so it is important to put these types of arrangements in place in advance.
After the loss of a loved one, coping with the complicated administrative burden of probate can be daunting and overwhelming. Our experienced specialist wills and probate solicitors can also help you deal with the responsibilities of administering a loved one's estate by advising you on the legal and tax implications and carrying out the probate process on your behalf.
Osmond and Osmond's Wills & Probate Expertise
Our solicitors' extensive expertise allows us to provide personal, practical advice in the following areas:
- Wills
- Trusts and appointment of trustees
- Powers of attorney
- Probate and the administration of estates
Next Steps
If you have recently lost a loved one or would like to start planning for the future, contact p.flaherty@osmondandosmond.co.uk or will@osmondandosmond.co.uk or by telephone on 0207 583 3434 today for more information.
