Many people do not understand the consequences of failing to make a Will nor of the benefits that a Power of Attorney can bring. Not making a Will can be very damaging to the interests of family, dependants and beneficiaries because it can affect the tax burden imposed upon them by government legislation. That legislation can also mean that property may go to those you would not wish to have it!

Lasting Powers of Attorney were introduced in October 2007 and are a way of giving total or limited control of one's property and affairs and also (if you wish) one's personal welfare to a trusted relative or professional person in the event of mental incapacity brought on by an accident or medical condition or just advancing years. Legal advice obtained from an experienced solicitor can prove invaluable in drawing up a Will that removes complications which sometimes arise after the person has died, and one which takes full advantage of Inheritance Tax allowances for the beneficiaries.

It is a common misunderstanding that a surviving partner or family member will automatically inherit everything. The fact is that if what you leave behind (known legally as your "Estate") exceeds a certain monetary value, and you have not made a Will, the law will decide who inherits what and this may include other members of your family or dependants. A Will can dictate who gets what and who doesn't get what they might expect! It can influence your funeral arrangements, set out who (by prior agreement) will take care of your children, make special provisions for particular people or good causes, and appoint named persons to take charge of your affairs (called "Executors").
They will also need to have the important role of being Trustees if, for instance, there are infant beneficiaries.

Neither a Will nor a Lasting Power of Attorney is set in stone whilst you have the mental capacity to change either one. Both documents can give you peace of mind however and, providing they have been drawn up by a qualified solicitor, you can have them modified to reflect changing circumstances. To many people the thought of making a Will or a Power of Attorney seems like signing away their lives. However, both steps are a serious expression of care and concern for loved ones who will have to supervise your affairs when you are no longer able to handle them yourself.

We recommend that you also read our Web page on Probate & Trusts to more fully understand the above information. Please contact us by telephone, fax, e-mail or letter for a confidential discussion about your personal circumstances and concerns. Our offices are located near the centre of Gerrards Cross with limited parking for visitors at the rear. Otherwise parking is available in Oak End Way and Station Road (where there is a large public car park).