Wills & Probate
Description
Will Writing
Are you guilty of intestacy? Every day 2,000 people die in this country and most of them leave their families with all the problems of intestacy - this means dying without having a legally valid Will.
Most people assume that all their possessions will automatically pass on to their husband or wife or civil partner or other members of the family. Unfortunately, many families often face immediate financial hardship and sometimes they even have to sell the family home - simply because no Will has been written.
The Rules of Intestacy mean that the State writes a Will for you and your possessions are distributed according to these rules. How many people would want their estate to be divided in a way that gives them no choice in the matter? Would you want your partner or family to face unnecessary extra difficulties at a time of great distress?
Without a Will you miss all the chances of passing on particular gifts to your friends or favourite charities. If you have a young family wouldn't you like to have a say in who may have to look after them after you are gone?
Want to find out where you would be without a Will? Click here to find out.
Your Will - an important tool in business succession planning
If you are in business - say the owner or part-owner of the shares in a private limited company - have you given thought to what happens to those shares after you die?
Assuming you have a Will, have you made proper provision so that your surviving spouse or civil partner (if he or she is not involved in the business) has cash instead of what to them are useless bits of paper, and the shares are made available to the remaining shareholders?
Time to change a Will?
You can easily add simple requests to your Will. If you have recently married or divorced, or are sharing property with a new partner, then it's essential that you write a new Will.
Everyone's circumstances change as time goes on and we recommend reviewing your Will at least every five years and more frequently if there is a major change in your situation.
Lasting Power of Attorney
If you lose mental capacity without an LPA (Lasting Power of Attorney) in place, it will be necessary for your family to apply to the Court of Protection to have a deputy appointed to deal with everyday financial matters. This is a slow and very expensive process, costing thousands of pounds. If you already have an LPA in place, this will not be necessary. Don't worry - we are here to help and can guide you through the LPA process.
What is a Lasting Power of Attorney?
- If you are unable to manage your own affairs, an LPA appoints someone of your choice to do it for you. There are two types of LPA:
- A Property and Financial Affairs LPA allows your chosen person to handle your bank accounts, investments, bills and property.
- A Health and Welfare LPA covers decisions about your health and care.
Why should you have one?
- Health conditions such as dementia, Parkinson's disease or a stroke can cause making decisions to become virtually impossible.
- If you lose mental capacity without an LPA, it can cost your family time and thousands of pounds to be given permission to handle your affairs.
- Without an LPA, any joint bank accounts you hold with your partner could become severely restricted.
- This can be devastating, especially if the joint owner has their income or pension paid into this account, or they use it to pay critical bills such as a mortgage or utility costs.
Next Step:
Thousands of people are worried because they have not written a Will or have an LPA in place. If you are one of them, it's never been simpler to put your mind at rest.
We appreciate that writing a Will or preparing an LPA is something very personal and feel that whenever possible taking your instructions should be done on a face-to-face basis. We understand that often people cannot get away from work to see us and so we will arrange to meet you either over Zoom at a time that suits you or we will visit you at home if you live within reasonable driving distance of Buckingham.
Please contact us if you wish to make an appointment to give us instructions about your Will or LPA, or have any questions about our Will or LPA writing service.
Schedule of Fees
Our Will writing, LPA fees and probate fees are:
- Single simple will - £225
- Pair of simple mirror wills - £325
- Single will including a trust - £450
- Pair of mirror wills including a trust - £625
- Lasting power of attorney, either type - £325
- Lasting power of attorney, both types - £500
- Both types for a couple - £950
- OPG fee for each LPA - £82
- Probate - not full IHT return - £1,200
- Probate - full IHT return - from £2,000
All Will, LPA and Probate work is carried out through our associated company, Cracroft Wills & Probate Limited. Unlike our practice, this company is not VAT registered and so the above fees are as stated.
