Lasting Powers of Attorney
Court of Protection
Wills & Inheritance Tax Planning
Probate – What happens when I die
Trusts
Glossary
A Power of Attorney is a legal document in which a person gives another person (the Attorney) authority to make certain decisions on his or her behalf. From the 1st October 2007, you are able to make a new type of Power of Attorney called a “Lasting Power of Attorney” (LPA).
There are two types of LPA:
Your Attorney
As with any Power of Attorney, you should choose your Attorney(s) carefully. They should have the relevant skills to be able to manage your finances and affairs. If you appoint more than one Attorney, you can appoint them to always act together (jointly) or together and independently which means that they can either act together if they choose or separately should the need arise. You may even appoint them to act together for some specified issues and separately for others - the choice is yours. You may also choose to appoint a successor to your Attorney, in case the first named Attorney cannot act for you for any reason.
When can the Attorney act?
The Attorney will only be able to act when the LPA has been signed by you and your Attorney. The LPA will also need the signature of someone known as a “Certificate Provider”. The role of the Certificate Provider is to confirm, amongst other issues, that you understand the nature and scope of the LPA. The LPA must then be registered with the Office of the Public Guardian before it can be used.
Enduring Powers of Attorney
Any enduring power, validly made before 1st October 2007, will continue to be able to be used but only in respect of your property and affairs. If you wish to give authority over your health or welfare you will need to make a Personal Welfare LPA.
What happens if you have not made an LPA or EPA?
If you lack capacity to make decisions, then it may be necessary for an application to be made to the Court of Protection for a Deputyship order appointing another person (the Deputy) to make decisions on your behalf. As this is not as straightforward as making an LPA we would always recommend an LPA as the best option for those who have capacity.
As people get older, it can become a burden to look after our property and financial affairs. If a person loses the capacity to manage their own finances and affairs and does not have a Power of Attorney in place, an application will need to be made to the Court of Protection to appoint someone, known as a Deputy, to make decisions for the person who lacks capacity.
An application to the Court is a time consuming process which, at a time when additional stress is not welcome, can be overwhelming. At Pickering & Butters we have a team of lawyers experienced in providing support and assistance when you need it most, ranging from simply making the application to the Court for a Deputyship appointment through to acting as Deputy and managing a person’s finances and affairs.
Wills & inheritance tax planning
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It is important to ensure that those you wish to benefit from your estate do so. Making a Will does ensure that your wishes are carried out. By seeking professional advice from Pickering & Butters, you can have the peace of mind of knowing that those you care about will be provided for once you are gone, in full accordance with your wishes.
It is a common misconception that if you die without leaving a Will, your spouse or Civil Partner will receive your entire estate. This may not be the case. If you die without a Will and are not married or have not entered into a Civil Partnership, your partner will not automatically inherit anything from you.
Many people are also unaware that if you die without leaving a Will and do not have any family, your entire estate will pass to the Crown. By leaving a Will you are able to choose those people you want to leave your estate to.
It is also important to ensure that you keep your Will under regular review to take account of changing family circumstances (for example the death of a beneficiary or new arrivals). Getting married or entering into a Civil Partnership automatically revokes your Will.
By seeking expert advice your will and estate can be tailored to minimise or even avoid the payment of Inheritance Tax. Our team of lawyers will guide you through the whole process to make matters as straightforward and as uncomplicated as possible whilst maximising the tax savings available to you.
Probate - what happens when I die?
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It is a distressing and difficult time when a close family member or friend dies. Acting as the Personal Representative (Executor) of a friend or loved one’s estate can be a complicated process. Pickering & Butters provides a fully tailored service to assist you with the administration of the estate which includes:
We will always discuss and explain fees with you before commencing any work on your behalf so you will be fully aware of the likely cost before proceeding. We aim to be as transparent as possible on the question of our fees in acting on your behalf.
Whether it is advising on the creation drafting and setting up of Trusts or taking over and running Trusts, our team of lawyers can provide a full service to Trustees to ensure that the Trust is run in accordance with modern legal requirements which are becoming increasingly onerous.
For further information, please contact our team at PrivateClient@pb4law.com or on 01785 603060 / 01889 803080. We are able to offer home visits on request.
