When thinking about estate administration, Wills and a Lasting Power of Attorney should be considered as part of the process.
Having a Will can make probate more straightforward, but whether there is a Will or not, the administration process can still be complex. As we work with Wills every day, we see the worry and delays caused when a Will isn’t correctly written.
A professionally drafted Will is important for two primary reasons:
1. You can legally express who you would like to give your assets to. If you die without a Will, the Rules of Intestacy dictate how any money, property or possessions will be allocated. This may not be the way that you would have wished for your estate to be distributed.
2. Even if you do not consider that you have any significant assets, by making a Will you can legally ensure that your dependants are provided for.
Valued Estates can offer advice and write a Will for you, giving you peace of mind for the future.
Lasting Power of Attorney (LPA)
A Lasting Power of Attorney allows you to decide who you would want to act on your behalf should you no longer be able to manage your own financial affairs or make decisions on your health or welfare.
There are two types of Lasting Powers of Attorney: