Wills & Lasting Powers of Attorney in Haywards Heath & Mid Sussex
We should all prepare for what happens to our property and wealth when we die or equally importantly, have to go into care. Most people want to plan how best to legally protect our wealth for the next generation from the authorities or the tax man. To do this everybody should make a will, whilst the elderly are well advised to put in places Lasting Powers of Attorney for both finance and health.
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Why we all need a will.
The majority of us have something to leave behind and most of us know who we want to leave it to. If you don’t have a will then when you die your estate passes to your next of kin, who can keep it or decide how what to do with it. However, if you want to leave specific bequests – a ring to your niece, a charity donation to local dogs’ home, a painting to the friend who did your garden – then it’s best to have it written down.
Any lawyer will recommend a will ‘for the avoidance of doubt’. Mulcare Jenkins is no exception and our friendly team will ensure your wishes are recorded correctly. We can also act as executors and make sure your wealth ends up where it should be. If you have significant wealth – £1,000,000 million for couples or £500,000 for singles – you should also talk to our Trust department to see how you can best protect it from inheritance tax.
Who needs a lasting power of attorney?
It’s sensible to grant someone you trust a Lasting Power of Attorney if you think you might need somebody else to make decisions for you if you are considered ‘unfit’ to make those decisions yourself. This can be for medical decisions and/or financial decision (you can select the same person for both). They only make the decisions if you can’t, but it’s not just about growing older. If you have a genetic predisposition toward conditions such as Huntington’s or Alzheimer’s, you may be unfit to make choices sooner than you imagined.
If you don’t select someone, power automatically goes to your closest relative. Normally your spouse or, if you are no longer married your oldest child (if they are of legal age), or to your parents. Alternatively you can name someone specific to decide for you.
Whoever you choose to have your Lasting Power of Attorney will have the ability to make end of life decisions, financial decisions and more. You should consider this person carefully and make sure they understand your wishes. To make everything clear you’ll need a lawyer to help you prepare the necessary documents. Mulcare Jenkins has great experience in preparing Lasting Powers of Attorney We will draft all the documents you need to ensure that the person making all of your decisions is the one you want.