Here are just some of the things we can advise you on:
- Lasting Powers of Attorney: In 2005, the Mental Capacity Act made it possible to appoint a person of your own choosing to administer your affairs in the event of mental incapacity. And remember mental incapacity can affect not only the elderly – premature dementia or an accident can have the same effect.
- Living Wills: A Living Will can record your wishes, with respect to certain medical procedures that are/are not to be employed on loss of mental capacity ("advanced directive"). Alternatively, a Living Will can record your beliefs on such procedures for the family to consider should a difficult decision with regard to your health have to be made ("non-advanced directive").
- Inheritance Tax Planning: When trying to minimise the inheritance tax payable on your estate by your beneficiaries, there are many different options, depending on the circumstances. Subject to your particular situation, the size of your estate and various other factors, we can provide you with a list of options and their pros and cons.
- Trusts: A Trust is a fund which contains assets that are controlled by you and/or a nominated third party for the benefit of a specific individual(s). They are governed by complex legal regulations and separate tax rules. A Trust can be set up at any time during the lifetime of an individual to become operative immediately or, not until your death. Find out more about what a Trust can do for you.
- Guardians: If you have young children, you should consider appointing guardians to take care of them if you die while they are still young. This is usually done whilst making your Will.
For further information call or e-mail Malcolm Abel
T: +44 (0) 161 833 0578
E: malcolm.abel@fdl-law.co.uk
