Featured presentation from Susan Shuttle at Setfords Solicitors.
1. Susan Shuttle Private Client Solicitor
2. Wills Contents of a Legal Binding Will • Executors • Funeral wishes • Guardians for children • Mutual Wills • Beneficiaries • Protection of assets for beneficiaries – Trusts and Life Interests in property • Tax advice When a person dies without a Will • Government decide who will be your administrators. • Your funeral wishes may not be followed • Your children may be placed in care. • Government dictate where your assets pass. • No tax planning
3. Lasting Powers of Attorney (LPAs) Financial and Property LPA & Health and Welfare LPA • You can chose your Attorneys. • You can include wishes and instructions such as:- Whether you wish to have treatment to prolong your life if you are vegetive state Whether you wish to go into a care home • Where you wish your money to be invested. • In the Property and Financial LPA, you can state that your Attorneys can assist you whilst you have mental capacity but lack physical capacity. If a person lacks capacity without an LPA, a Deputyship Order is required • Loved ones have to apply to the Court of Protection to become your Deputy • The Local Authority could be appointed as your Deputy. • This is a lengthily process • It is costly • During the process your loved ones cannot make decisions about your health and your welfare.
4. I assist Executors with obtaining a Grant of Probate and Administrators with Grants of Letters of Administration. This includes:- • Collating the value of the deceased’s assets. • Preparing tax forms • Preparing court applications to obtain a Grant. • Preparing estate accounts • Distributing the estate • Preparing Deeds of Variation. Post Death Services
5. Trusts Trust of Land I prepare Declarations of Trust which state:- • Individual shares in a property • What would happen if a party wants to sell the property • Who pays the bills/mortgages and in what percentages This saves the need to apply to court if the co-owners fall out. This also saves time and money Other Trusts I prepare Lifetime Trusts and Will Trusts such as:- • Discretionary Trusts • Vulnerable Person’s Trust • Life Interest Trusts of land