Looking After Your future
Looking after your future
Protecting Your Family From the Unthinkable
A Will is probably the most important document you will ever write. For most of us, our death is not something we want to dwell on and for that reason alone we put off writing a Will for as long as we can. Be reassured that the Will writing process is not complicated and the hardest part is often making the initial appointment. Once it’s done you can relax, safe in the knowledge that should the unthinkable ever happen you won’t have left any problems for your family to deal with. We find that most people just want to make sure that everything passes to their spouse and/or children on their death. Without aWill there are no guarantees that this will happen automatically as there are specific 'Intestacy' rules which govern who will inherit your estate on your death. If you have children we recommend that you have a Will to ensure guardians are in place to look after them and we can give you guidance on how to choose suitable guardians if required. Without a Will they could end up living with someone you wouldn’t have chosen, so put your mind at rest and write a Will. Don’t leave it too late.
Trusts offer a way of holding and managing money for people who may not be ready or able to manage it themselves. Trusts are particularly useful when planning how money and assets should pass from one generation to another, especially when family structures are complicated by divorces and second marriages. We'll advise you if we think a Trust may be beneficial whilst drafting your Will as they can be used to make a Will more tax efficient.
We know that when you lose a loved one it can be difficult to know what to deal with first. At Banner Jones, our team of Probate specialists are here to answer any questions you may have. If you have been appointed as an Executor of a Will (or an Administrator where there is no valid Will) you may need to apply to the court for a Grant of Probate before any of the deceased's estate can be paid out. A Grant of Probate is usually required if they had any asset worth over £5000. In times of grief we understand that you may not want the burden of all the administration, so if you wish, we can deal with the whole process for you from start to finish.
Lasting Powers of Attorney
A Lasting Power of Attorney (or LPA) is created to allow someone else the ability to look after your affairs if your mental capacity is lost. More often than not people create Lasting Powers of Attorney in later life when there is a higher chance of mental capacity being lost through dementia for example. However, mental capacity can be lost at any age as a result of say, an accident so we would also advise anyone with complex financial affairs to have one as well. If this is something you feel you would benefit from having in place then we'll gladly you take you through the requirements in more detail.
(IHT) is payable on death at the rate of 40% on the value of your net assets over £325,000*. The first £325,000* is called the “Nil Rate Band” because although it is taxable to Inheritance Tax, it is taxed at 0%. If you are married and the first of you to die has not used up all their Nil Rate Band either during their lifetime or through theirWill you can potentially leave £650,000* free of IHT on the second death. To ensure that you make the best use of this allowance, and do not inadvertently lose all or part of it, please contact us for more information. For a tax planning meeting call us now to make an appointment. For extra support we can get Independent FinancialAdvisers involved if required at no extra cost to you.
Why Choose Banner Jones?
- Fixed Fees
- Professional service
- Home visits available
- Free secure storage of Wills and Deeds, for life
- Fully regulated and insured
- Appointments not always necessary
- Witnesses provided
- Tax advice included
- Six offices to choose from