Wills, Probate, Tax and Trusts
Enduring Powers of Attorney
Ridley & Hall are able to offer advice regarding the preparation of enduring powers of attorney. In the alternative, we can discuss whether a ‘receiver’ is needed and guide you through the process of appointment at the Public Guardianship Office.
What happens if I do not have a Will?
You will die ‘intestate’ – without a Will. When this happens the law decides who will benefit from your estate, and in what proportions. This is under something called the ‘Intestacy Rules’.
Under the Intestacy Rules, if you are not lawfully married, and have no relatives your estate will go the Crown. The Rules do not recognise "common law" partners, and "children" includes natural, adopted and illegitimate children, but excludes step-children.
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Who can make my Will?
The best way to ensure a Will is made correctly is to have a professional prepare it for you.
Ridley & Hall have been preparing Wills for many years and have a wealth of experience.
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How much will it cost?
A full list of our fees for Will making is available on request. In general a basic Will for one person will cost around £100.00 plus VAT.
Inheritance tax planning Wills are more expensive – but compared to the saving of inheritance tax they allow, are very attractive.
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What is an enduring power of attorney?
A document which allows someone to deal with another’s financial affairs (an attorney) which continues even if you lose your mental capacity.
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What is an Attorney?
Someone who acts on behalf of another person, during their lifetime.
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Why might I need to make an enduring power of attorney?
The most common reasons are because you :
- become unwell
- become forgetful
- find dealing with your finances too difficult or time consuming.
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Who should I appoint as my attorney?
Someone over 18 whom you trust, and preferably who knows a little about your affairs. You can appoint a family member, friend or professional such as a solicitor
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What happens if I do not appoint an attorney?
If you lose your mental capacity and no Enduring Power of Attorney is in place your family must apply to the Public Guardianship Office (Court) for a Receivership Order. The order tells them how to deal with your assets.
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What’s the difference between an enduring power of attorney and a receivership order?
The cost of preparing an Enduring Power of Attorney is much cheaper, around £100.00 plus VAT. It is quicker to complete an Enduring Power of Attorney, which is finalised once you and your attornies have signed and dated it. An application for a Receivership Order can take between two to six months.
Your attorney has a lot more freedom to make decisions on his/her own. The directions of the Court bind a Receiver.
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For further information please call us on 01484 538421 or contact us via the online enquiry form.
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