An expert solicitor talks death, money and writing your Will post-lockdown
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Phillip Bazley from Gordon Dean Solicitors explains why now is the right time to plan your Will and how a solicitor can help to secure your family’s financial future.
1. Review your assets and estate
Take stock of your assets and estate. Regularly reviewing your financial situation will help you stay on top of it and ease your stress. Your solicitor will listen to your needs, discuss how they can help and ensure this is the right decision for you.
2. Name your beneficiaries
Pass along your assets to your loved ones by naming them as beneficiaries. Discuss how you would like to pass on your assets and learn how you can minimise inheritance tax.
3. Appoint an executor of your estate
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It is an executor’s job to collect your estate and make sure the wishes set out in your Will are followed. They can also look after money inherited by underage children until they are old enough to access the funds.
4. Choose a legal guardian
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Naming a legal guardian for your children can help put your mind at ease.
“No one wants to imagine not being around to watch their children grow up, but it can be a weight off your mind, to know no matter what, they will be cared for,” Phillip said.
5. Setting up a legacy
If you would like to leave money to a specific charity, you can set up a legacy in your Will to make sure a donation is made in your name.
6. Planning for future care needs
Your solicitor can advise whether you need to make plans to help provide for you or your partner’s future care needs, including the effect of care home fees.
7. Making Lasting Powers of Attorney
When making a Will, it is also a good time to consider making Lasting Powers of Attorney. This allows you to appoint someone to manage your financial, health and welfare decisions on your behalf, in case there comes a time when you are unable to do it for yourself.
“Making these preparations now, instead of later, can make life easier for you and your loved ones,” Phillip said.
8. Making funeral arrangements
“It’s not a pleasant thought but putting plans in place for your funeral can help ease your family’s stress. You can save them from needing to make tough decisions and help to cover funeral costs,” Phillip said.
The team at Gordon Dean Solicitors can answer questions and offer advice and guidance through each step of setting up your Will. They will help ensure you have done all you can to help protect your family’s future.
Visit gordondeansolicitorsllp.co.uk for more information.
Call 01603 767671 to book your free consultation for the legal advice you need.