Estate Planning for Everyone

We’ve talked a lot about Estate Planning because Estate Planning is for everyone. Will’s, Will Trusts and Power of Attorney for financial and health matters. If you still aren’t sure what Estate Planning is and you haven’t read them, they’re full of information to give you an idea of where to start and what they can be used for (including the all-important jargon-busting).

But, where do you sit with that? If you haven’t got it covered, why not? Does it just seem too complicated? Are your circumstances not as straightforward as you like?

That’s not a problem when you’re working with us. We can help you no matter what the circumstances and can advise what may be the best options for you when Estate Planning.

Who is Estate Planning for?

We see many scenarios presented to us on a daily and weekly basis, all are unique and all of them have solutions that are right for them. Estate planning is for everyone.

For instance, you could be the sole name on a property worth £400,000 but have had an £84,000 equity release, savings of £48,000, 3 children (1 of which is estranged), 9 Grandchildren and an existing 10-year-old Will. Things may have changed since that 10-year-old Will, such as divorce. In those circumstances, you might wish to put your property into a Will Trust to help your children inherit as much as possible, with a view to them sharing their inheritance with your grandchildren. You may even want your grandchildren’s inheritance to be held until they are 21.

Likewise, you could be a couple who are joint tenants on a mortgaged property with 8 years left to run. The property may be worth £330,000 and you have a joint savings account of £38,000. You share 2 children and 4 grandchildren and have an existing joint will. But, things have changed from that standard mirror Will you both set up. One of you may have developed a health condition that requires care and means if you passed the other wouldn’t be able to cope alone and may need residential support, which can be expensive. You may wish to protect your most valuable asset – your home and therefore want documents drawn to protect at least half of the house for the benefit of your children whilst retaining 50% between you and your spouse.

Lastly, it may be that you are the sole owner of a property worth £210,000, have 4 children and 6 grandchildren with savings of £1,000. As you have no documents in place currently you want to ensure that your children and their families inherit as much as possible.

Do any of these scenarios resonate with you?

There are so many different scenarios and although we provide an online service each scenario is unique and is still treated uniquely.

If you’ve not thought about or don’t have estate planning documents in place for when the worst should happen your estate will fall to government intestacy. If you don’t have a Will in place what will happen? The government provide a useful guide based on answers to a few simple questions. This will give you an idea as to what would currently happen to your estate – https://www.gov.uk/inherits-someone-dies-without-will.

If you’ve taken a look at this and the answers aren’t what you’d like to happen with your estate, now is the time to put in place your Estate Planning documents.

Working in partnership with Honey we can help and offer you a package to suit you because Estate Planning is for everyone.

GOLD

This is the ‘Complete Piece of Mind Lifetime and Estate Protection’.

With it you’ll get; your Will, Protective Will Property Trust/Lifetime Interest/Right to Reside, Discretionary Will Trust, Lasting Power of Attorney for Property and Financial Affairs and Lasting Power of Attorney for Health and Welfare Decisions, Legal Checks.

It’s the ultimate level of protection that you can provide for your estate and to those closest to you. This package ensures that the people you choose can have the ultimate power to best protect your assets and also protect your closest family and friends. Once set up, you can rest easy knowing that you have ensured that your hard-earned life’s work will go to the people you choose.

SILVER

The Lifetime, Property, Beneficiary and Secondary Estate Protection.

It includes; your Will with Protective Will Property Trust/Lifetime Interest/Right to Reside or Discretionary Will Trust, Lasting Power of Attorney for Property and Financial Affairs and Lasting Power of Attorney for Health and Welfare Decisions, Legal Checks.

This package is the minimum level of protection that you should be looking for if you are a homeowner. There are a lot of interfering third parties, intent on taking your home and your assets away from you and your family. This will ensure that you protect your share of your largest asset within your estate from these third parties, after you’re gone whilst ensuring that those who you leave behind have certainty and stability in your absence, whilst still making sure those who you wish to inherit your hard-earned assets, will do.

BRONZE

Otherwise known as Lifetime and Primary Estate Protection.

This will give you: Your Will, Lasting Power of Attorney for Property and Financial Affairs and Lasting Power of Attorney for Health and Welfare Decisions, Legal Checks.

The primary level of protection for you during your lifetime and your assets after you’ve gone, that everyone needs to have. This will ensure that whilst you’re alive, your assets are not frozen (Lasting Power of Attorney), your most trusted confidants can make health decisions for you, if you can not (Lasting Power of Attorney) and that the government can’t decide where your hard-earned life’s work is going to go after you’ve gone (Will). Without this very primary level of protection, you, your assets and even your loved ones are left vulnerable. The consequence of not having any form of protection is that your assets and personal health and wellbeing are in jeopardy, as are your assets after you’ve gone and the circumstances of your loved ones. Without any protection, the costs to sort your assets out during your life and after you’ve gone can run into the thousands, on more than some occasions, the tens of thousands. Putting in place such protection is certainly an invaluable investment in yours and your loved ones’ futures.

So if you’re looking for:

  • Complete control and the final say in what happens to your assets after you’ve gone, instead of the government deciding.
  • Peace of mind having appointed guardians for your children through a Will, should anything happen to you.
  • Assurance that the people who you want to inherit your share of your property, actually do without any interference from outside sources.
  • Assurance that a surviving co-owner of a property can continue living in the property for the remainder of their lifetime.
  • Complete control of your assets and how your children and loved ones inherit and stay with the people you trust most to sort everything out.
  • The cheapest and quickest way of ensuring your assets aren’t frozen should you lose mental capacity.
  • The cheapest and quickest way to ensure your preferences in what care you receive will be followed.

What can you do next?

It takes a few minutes to answer the online questions and generate your report with recommendations for you.

Protect what’s important to you and start your estate planning now.

Links are available on the Online Mortgage Guru website or here.

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