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Reasons to update your current Will

Wed, 04 Feb 2026 10:40:00 GMT

Making a Will is one of the most important steps anyone can take to protect their family, assets and wishes after death. Yet, despite this, millions of people in the UK still die without one. In 2026, writing a Will or reviewing an existing one, is more important than ever, particularly considering changing family structures, rising asset values, and ongoing developments in Wills and succession law.

Whether you are writing your first Will or reviewing a document drafted years ago, now is the time to ensure your wishes are clear, legally effective and fit for modern life. The National Wills Report 2025 found that only 37% of UK adults currently have a valid Will, leaving nearly two-thirds of the population exposed to the consequences of intestacy. Encouragingly, 34% of adults say they plan to make a Will within the year, suggesting growing awareness, but awareness alone is not enough.

2026 is the year to move from intention to action.

A Will Gives You Control Over What Happens After Death

A Will is a legal document that sets out how your estate should be dealt with after your death. Without a valid Will, your estate will be distributed according to the rules of intestacy. These rules are rigid and often do not reflect modern families or personal views. Having a Will ensures that you, rather than the law, decides what happens to your money, property, and possessions.

A properly drafted Will allows you to:

Decide who inherits your estate.
Appoint executors you trust to administer your estate.
Name guardians for minor children.
Leave gifts to friends, charities or causes that matter to you.
Make provisions for vulnerable beneficiaries.
Express funeral wishes and other final instructions.
Reduce the risk of disputes or challenges.
Exclude people from benefiting under your Will.

Without a Will, none of these decisions, and many more, are yours to make.

What Happens If You Die Without a Will?

If you die without a valid Will, your estate is distributed according to the rules of intestacy. These rules are fixed in law and do not take account of personal relationships, fairness, or individual circumstances.

If you die intestate:

Your estate is distributed strictly according to law.
Unmarried partners receive nothing, regardless of how long you have lived together.
Stepchildren are excluded unless legally adopted.
The people you would choose to benefit may not inherit at all.
Family members may face delays, uncertainty, and additional costs.

This can be especially problematic for blended families, long-term cohabiting couples, and those with complex family relationships.

The Reality: Most People Still Have Not Acted

The National Wills Report 2025 highlights a concerning gap between understanding and action.

Only 37% of adults have a Will.
63% of adults remain without one.
29% of people with a Will haven’t told anyone where it is stored.
51% of adults do not know where their parent’s Will is kept.

This means that even where a Will exists, it may be difficult or impossible to locate when needed, creating unnecessary stress for families during an already challenging time.

Why Updating an Existing Will Is Just as Important

Having a Will is not a one-off task. Life changes, and your Will should change with it. A Will that no longer reflects your circumstances can cause just as many problems as having no Will at all.

You should review your Will if you have experienced:

Changes in Relationships:

Marriage or civil partnership
In England and Wales, marriage automatically revokes an existing Will unless it was made in contemplation of that marriage.
Divorce or separation.
New relationships or remarriage.

Changes in Family Circumstances:

The birth of children or grandchildren.
The death of a spouse, partner, beneficiary, or executor.
Changes in family dynamics or responsibilities.

Changes in Financial Circumstances

Buying or selling a property.
Significant changes to finances or business interests.
Receiving an inheritance.
Changes to investments or pensions.

As a general rule, Wills should be reviewed every three to five years, even if no major life event has occurred.

Modern Families Need Clear, Modern Planning

Family structures in 2026 are increasingly complex. Cohabitation, blended families and second marriages are now common, yet intestacy rules remain firmly rooted in traditional family models.

A Will is particularly important if you:

Live with a partner but are not married or in a civil partnership.
Have children from previous relationships.
Wish to protect a spouse while ultimately benefiting children.
Want to treat children and stepchildren fairly.
Support someone financially who is not a close relative.

Clear instructions in a Will reduce uncertainty, manage expectations, and help prevent disputes.

Legal Developments and Why 2026 Matters

Recent years have seen increased attention on the needs to modernise Wills law. In 2025, the Law Commission continued to progress proposals aimed at bringing Wills legislation into line with modern life.

Proposals included:

Reforming the rule that marriage revokes a Will.
Updating the test for testamentary capacity.
Allowing courts greater flexibility where formalities are not strictly followed.
Exploring the future recognition of electronic Wills.

While these reforms are not yet into force, they highlight a crucial point that the law is evolving, but current legal certainty still matters. A clearly drafted, professionally prepared Will remains the safest way to ensure your wishes are legally effective.

Reducing Stress, Delays and Disputes

One of the greatest benefits of a clear, up-to-date Will is the reduction of stress for loved ones. When a Will is unclear, outdated or missing altogether, families may face:

Disputes between beneficiaries.
Claims against the estate.
Lengthy probate delays.
Increased legal costs.

By contrast, a well-structured Will provides clarity at a tough time and helps the estate be administered efficiently.

Practical Steps to Take in 2026

To protect your assets and loved ones this year, consider the following actions:

Make a Will

If you do not currently have one, making a Will should be a priority, particularly if you have children, own property, or live with a partner.

Review Your Existing Will

Check that it still reflects your wishes, assets, relationships and meets current legal requirements.

Ensure Your Will Can Be Found/Located

Tell your executors where your Will is being stored and consider registering its location. Additionally avoid “shadow Wills” (unofficial copies or drafts that cause confusion) that cannot be located.

Think Holistically

A Will should form part of a broader, working alongside tools such as Lasting Powers of Attorney (LPAs) to protect you during your lifetime as well as after death.

Final Takeaway

A Will is not just a document for later life, it is a practical step that protects the people and things that matter to you, whatever your age or circumstances. With millions of adults still without a Will, and many existing Wills no longer reflecting current realities, 2026 presents a clear opportunity to put plans into place with confidence.

Taking the time now to write or review your Will ensures clarity, reduces uncertainty, and gives reassurance to those you leave behind. It is a small investment of time that can prevent significant difficulty in the future.

Source SWW

Unmarried Couples

Wed, 21 Jan 2026 10:07:00 GMT

More couples than ever are choosing to live together without marrying or entering a civil partnership. While this arrangement works well for many, it can create significant inheritance tax and estate planning disadvantages on death.

This article explains the main IHT disadvantages unmarried couples face compared with married couples or civil partners, the pitfalls of ‘leaving everything to each other’ (including life interest trusts), and why a nil rate band discretionary trust in a will is often a better planning tool for inheritance tax planning for unmarried couples.

Inheritance Tax Planning for Unmarried Couples – Disadvantages

Under the Inheritance Tax Act 1984, gifts between spouses and civil partners are generally exempt from IHT (the spousal exemption).

Two allowances are central to IHT:

· Nil Rate Band (NRB): currently £325,000 per individual. Up to this value, the taxable estate is charged at 0%.

· Residence Nil Rate Band (RNRB): an additional allowance (subject to conditions) when a qualifying main residence is inherited by the deceased’s direct descendants. The current value is £175,000.

For married couples or civil partners, unused NRB and RNRB can typically be transferred to the survivor, allowing up to two sets of allowances on second death.

Unmarried couples do not benefit from these rules. In practice:

· Gifts on death to an unmarried partner are potentially chargeable to IHT (subject to available allowances).

· There is no automatic transfer of unused IHT allowances between unmarried partners. The transferable nil rate band is designed for spouses or civil partners only.

The RNRB also has a practical trap in blended unmarried families. For RNRB purposes, “direct descendants” includes children, grandchildren and certain others; it also includes stepchildren. An unmarried partner’s child is not treated as the deceased’s “direct descendant”, so a gift of part of the home to that child will fail the “closely inherited” condition and the RNRB will be unavailable over that share. This is a key consideration in inheritance tax planning for unmarried couples with children from previous relationships.

Leaving Everything to Each Other

A common “simple will” choice is to leave everything to the surviving partner outright on first death. For an unmarried couple, that gift is not spouse-exempt. If the estate is above the available allowances, an IHT charge will arise immediately. Even where no IHT is payable on first death (because the estate is under the NRB), the second risk is that by gifting to the partner it will be bunching assets in them and without the benefit of any transferable allowances.

Life Interest Trusts and Unmarried Couples

Many wills include a life interest trust, either over the whole estate or just over the property (usually referred to as a Property Protection Trust or PPT). In simple terms, the survivor may have a right to occupy a property or receive income for life, with the capital eventually passing to named beneficiaries.

These trusts can achieve non-tax objectives (for example, protecting a share of a property for children from a previous relationship). However, where the survivor benefits from a life interest, the trust will be considered as an Immediate Post-Death Interest (IPDI) and the trust capital will be taxed as part of the survivor’s estate for IHT on their death.

Using life interest trusts for unmarried couples will therefore suffer the same IHT disadvantages as leaving to the partner outright.

Why a Nil Rate Band Discretionary Trust Can Be More Effective A nil rate band discretionary trust is a will trust designed to capture up to the value of the NRB on first death. Instead of leaving everything outright to the partner, or tying up assets in a life interest, the will directs that an amount up to the NRB passes into a discretionary trust.

Key features:

· As a discretionary trust, the trustees decide who benefits, when, and by how much, from a class of beneficiaries (often including the surviving partner, children and sometimes wider family).

· The trust is funded up to the NRB so no IHT is payable on that slice at the first death.

· A discretionary trust is relevant property, and the beneficiaries of the trust are not considered as owning the trust capital for IHT. This avoids the trust fund being taxed as part of the surviving partner’s estate on their death.

· The first partner’s NRB is used rather than wasted.

· Trustees can lend to the survivor, assist with housing, or distribute to children depending on needs and tax position.

While discretionary trusts are subject to their own IHT regime (periodic and exit charges under the relevant property rules), a trust funded up to the NRB is commonly structured to minimise or avoid such charges. Incorporating a nil rate band discretionary trust is a therefore a useful strategy in inheritance tax planning for unmarried couples.

Example

Andy and Betty are an unmarried couple. Andy has an adult child, Chloe, from a previous relationship. Betty has no children. They own a home as tenants in common and have separate savings. They want to provide for each other but also leave assets to Chloe.

· Andy’s estate: 50% of the home (£350,000) + savings (£150,000) = £500,000

· Betty’s estate: 50% of the home (£350,000) + savings (£150,000) = £500,000

· Total combined wealth: £1,000,000

If they were married, they could simply leave everything to each other (or in life interests) and no IHT would be due. The spousal exemption will apply on first death. On second death, two sets of NRB and RNRB would be available regardless of who dies first, as Chloe is considered as Betty’s descendant for RNRB purposes as a stepchild. This will not be the case if they die unmarried.

Option 1: Everything to partner

Andy dies first and leaves his estate of £500,000 outright to Betty.

· Andy’s NRB: £325,000.

· The gift to Betty is not spouse-exempt.

· Immediate taxable amount: £500,000 – £325,000 = £175,000.

· IHT at 40%: £70,000 on Andy’s death.

· Betty inherits £430,000

Betty now owns £930,000. When Betty later dies, she has only her own NRB (£325,000) because Andy’s unused allowance cannot transfer.

· Taxable amount: £930,000 – £325,000 = £605,000.

· IHT at 40%: £242,000

Option 2: Nil rate band discretionary trust + remainder to partner

Andy’s will leaves the NRB (£325,000) into a nil rate band discretionary trust (beneficiaries include Betty and Chloe), and the balance (£175,000) to Betty outright.

· IHT on Andy’s death: no IHT is due on the NRB Discretionary Trust

· The remaining £175,000 to Betty is taxable at 40% as before

· Betty inherits £105,000

Over time, trustees can support Betty (for example, by letting her live in the property or by lending funds). Crucially, the £325,000 in the trust is not part of Betty’s estate on her death, reducing exposure to IHT on second death.

Betty now owns £605,000. Assuming the estate remained that value by the time of her death, her IHT would be calculated as follows:

· Taxable amount: £605,000 – £325,000 = £280,000.

· IHT at 40%: £112,000.

Use of a NRB Discretionary Trust leads to an IHT saving of £130,000 over inheriting outright.

Marriage/Civil partnership as an Option

For some unmarried couples facing an IHT liability, it may be appropriate to consider marriage or civil partnership as part of their planning. This can significantly improve the IHT outcome because the spouse/civil partner exemption can allow assets to pass to the survivor free of IHT on the first death, and the survivor can benefit from transferred nil rate band and residence nil rate band from the first to die.

That said, marriage/civil partnership can have important consequences beyond tax and they may wish to seek advice on creating a prenuptial agreement if they have significant wealth from before the relationship. While nuptial agreements are not automatically binding, the courts can give them significant weight where they are freely entered into, with full appreciation of their implications, and are fair in the circumstances.

Conclusion

For unmarried couples, the IHT framework is less generous than for spouses and civil partners. The absence of the spouse exemption and non-transferability of allowances means that common planning such as leaving everything to a partner, or relying on a life interest/PPT, can trigger tax when spouses would avoid it. The nil rate band discretionary trust offers a flexible and more tax-friendly alternative, but its implementation requires careful consideration of the client’s circumstances.

Important information - LPA's

Wed, 03 Sep 2025 13:14:28 GMT

�� IMPORTANT UPDATE: Court Fees for Lasting Power of Attorney Are Rising in November 2025! ��

If you’ve been putting off setting up a Lasting Power of Attorney (LPA) — now is the time to act.

From November 2025, the government is set to increase the court fees for registering an LPA. That means waiting could end up costing you more.

At Paragon Legal Services, we specialise in making the LPA process simple, affordable, and stress-free. Whether it’s for health & welfare or property & financial affairs, we’ll guide you through every step to ensure your wishes are carries out and your loved ones are empowered to act on your behalf if needed.

✅ Secure your LPA now before OPG fees rise

✅ Gain peace of mind for you and your family

�� Don’t leave it too late. Appointments are filling fast as more people act before the deadline.

�� Call us today on 01206 544919 or 0800 0747642 to book your free consultation.

Act now. Protect your future. Save money.

Blended Families

Wed, 13 Aug 2025 11:21:02 GMT

What do we mean by “blended families?” blended families are those that include

spouses with children from previous relationships. Whilst this does bring excitement

for new beginnings and the ability to share life and experiences as a larger family, it

can, on occasion, have the ability to cause conflicts that were not intended where

children can be disinherited.

What kind of issues can arise?

You may have the situation where the spouse or partner may have already written

their will leaving their estate to their children and since being in a new relationship,

have not considered amending their Will to leave some provision for their new family.

If they have married their new partner the old Will will have been revoked on

marriage but without writing a new Will their estate would then pass in accordance

with the laws of intestacy meaning their own children could end up being

disinherited.

Where someone dies without a Will and has a new partner and would have wanted

to provide for them and their children, this will not in reality happen as their estate will

pass in accordance with the laws of intestacy which currently does not provide for

blended families or even unmarried partners.

One common query we receive is where the spouse has left their assets to their new

partner or spouse on the basis they trust their new partner or spouse to ultimately

pass those assets to the children. However, this doesn’t always happen and the

children can end up being disinherited.

Here are some useful estate planning tips for blended families:

Consider the use of a trust

Life interest trusts can be a useful trust for blended families as they provide

protection from sideways disinheritance whilst still providing for the spouse or partner

during the trust period.

This type of trust allows the life tenant to receive income from the trust and

sometimes capital at the discretion of the trustees which would enable the life tenant

to maintain their lifestyle.

However, when the trust ends, either due to the life tenant’s death, remarriage or

otherwise, the assets that are in the trust ultimately go to those beneficiaries the

testator wanted to provide for. This can therefore ensure children from a previous

marriage are not disinherited.

The only point to consider with this type of trust is that it will last until the death of the

life tenant or earlier depending on what the trust period states, which means the

children’s inheritance will be delayed until then.

If, however, the testator does not want to make the decision as to how to divide the

estate but wants the family to receive financial support as and when required,

another option is a discretionary trust. A discretionary trust enables the trustees to

decide how and when to distribute income and capital to the beneficiaries which

makes the trust flexible. If one of the children was doing well financially, for example,

the trustees may decide that they do not need to provide for that child but instead to

the other beneficiaries who do require it. The testator can also write a non-binding

letter of wishes which can provide guidance to the trustees when managing the trust.

Update all legal documents

We briefly touched on this point earlier but if someone has a Will in place leaving

their assets to someone or various people and there is a change of circumstances

meaning they are no longer in that relationship, it is a good idea for the Will to be

updated to reflect the testator’s up to date wishes. While divorce does not revoke a

Will, it does treat the spouse or civil partner as having predeceased the testator.

However, the testator may have entered into a new relationship with a partner that

has children and may want to provide for them also.

If someone were to die without a Will, their estate will pass in accordance with the

laws of intestacy. If they were separated from their spouse, for example, and had a

new partner then legally they are still married and the spouse would therefore benefit

from the testator’s estate as the intestacy rules do not make provision for unmarried

partners.

As well as the Will, any LPA’s, pension and life insurance documents should be

updated accordingly.

Clarity

Ensure your Will is clear about who should receive what on death. If the Will refers to

a gift being made to the children but it was intended to benefit both the children and

stepchildren, the Will should explicitly say this.

It may be that the testator chooses to gift one property to the children and then the

residuary estate to the partner and stepchildren. Again, it is very important the Will

specifically states this.

The testator may wish to leave a greater amount to their own children than their

stepchildren or provide for a child that is younger or has additional needs. As long as

this is clear in the Will this is fine and a supporting letter of wishes setting out the

reasons for this may be advisable.

Own the property as tenants in common

If the home is owned as joint tenants, on death, the share of the deceased will

automatically pass to the surviving owner meaning children can be disinherited.

Contrast this to a property held as tenants in common. Each owner will own a share

of the property which can gifted to whom they wish in their Will.

Risks of a Claim

What are the risks if someone is not financially provided for? If someone is not

provided for, they can bring a claim under the Inheritance (Provision for Family and

Dependants) Act 1975. However, this is limited to the following categories of people

who can claim under the Act: –

 Spouse/civil partner

 Former spouse/civil partner

 Child of his

 Child treated as a child of his

 Cohabitant

 Person who is financially dependent on him.

As you can see from the above list this does include former spouses or civil partners

who have not remarried or since entered into a civil partnership therefore advice

should be sought about possible claims on the estate from them.

It is good practice, where the intention is not to benefit someone from the estate, to

specifically exclude them in the Will and have a detailed letter of wishes setting out

the reasons for the exclusion. This comes back to what we mentioned earlier about

clarity. It is also worth considering whether there are any financial orders in place in

the event of a divorce that would prevent a former spouse from claiming any further

provision.

Stepchildren would most likely fall within the definition of “child treated as a child of

his” or “person who is financially dependent on him.” Therefore, specific advice and

consideration should be sought as how to balance the provision between both the

biological children and stepchildren to take preventative steps from stepchildren

claiming against the estate where they aren’t being provided for at all or provided for

in the same way as the biological children.

Estate planning for blended families requires careful consideration so it is important

your wishes are clearly set out to avoid any misunderstandings or conflicts after your

death. Seek advice from an estate planner or solicitor to ensure your loved ones are

provided for in accordance with your wishes

Source: SWW

Revoking an LPA (Lasting Power of Attorney)

Wed, 29 Jan 2025 10:42:04 GMT

Revoking a Lasting Power of Attorney

A Lasting Power of Attorney (LPA) is a legal document that allows a person (called the donor) to appoint someone they know and trust (called the attorney) to make decisions on their behalf should they become unable to do so in the future. However, there may be occasions when the LPA needs to be changed and revoked.

How can an LPA end?

An LPA can come to an end if the donor’s attorney:

No longer has capacity

Divorces the donor or ends the civil partnership (where the attorney is the husband, wife or civil partner)

Becomes bankrupt or is subject to a debt relief order in the case of a property and financial affairs attorney

Is removed by the Court of Protection

Dies

Why would an LPA need to be revoked?

An LPA may need to be revoked for several reasons, including:

Appointing a new attorney – the donor may want to appoint a new attorney or change the powers given in the LPA to the attorneys.

Conflict of interest – a conflict of interest may arise between the donor and attorney where the attorney may benefit in some way from a decision that they are making on behalf of the donor, so the donor may choose someone else.

Loss of trust or confidence – the donor may no longer trust the chosen attorney, there may be a breakdown in the relationship, or the attorney may make decisions that go against the donor’s wishes or does not act when the donor needs them to which means there is a need to revoke their appointment as attorney.

Change in circumstances – the donor may have a change in their circumstances such as a new relationship, children, change in health or an attorney may no longer be able to carry out their duties which may require a change or lead to the need to revoke the LPA.

Misconduct or LPA abuse – if the donor has concerns about the attorney abusing their position, they might seek to revoke the LPA.

How to revoke an LPA

It is important to note that an LPA can only be revoked if the donor has the mental capacity to do so.

Please contact us on 01206 544919 or 0800 0747 642 to discuss your requirements

WHY WRITING A WILL SHOULD BE TOP OF YOUR NEW YEAR'S RESOLUTION LIST

Thu, 09 Jan 2025 11:06:22 GMT

Writing your Will is one of the best things you can do to protect your loved ones and your assets.

Your Will can:

- provide financial support for your family and anyone else you may want to protect.

- appoint testamentary guardians for minor children - This is essential for young families. If you do not have a Will appointing guardians, the Court will decide who looks after your minor children on your demise.

- put YOU in control of how your assets are distributed and to whom - without a Will, the intestacy rules will dictate who gets what - and it might not be the people you would have wanted to inherit from you.

- avoid arguments among family members - this is particularly important where blended families are concerned.

- minimise care fees (something to consider in older age).

- be amended at any time if you change your mind.

Writing your Will does not have to be a chore. With the right advice, it is a straightforward process and you will get peace of mind knowing that you have started 2025 by protecting your loved ones' future.

General Powers of Attorney

Wed, 22 Nov 2023 10:49:27 GMT

Normally when we think of powers of attorney we think of Lasting Power of Attorney (LPAs). These documents allow a donor to appoint attorneys to make decisions on their behalf should they lose capacity to make their own decisions. They can be made to appoint someone to make decisions about health and welfare as well as property and financial affairs. In the case of managing financial affairs an LPA can also be used while the donor still has capacity to make their own decisions, making them useful for someone who has mental capacity but maybe still needs a bit of extra support.

General Powers of Attorney (GPAs) are very different. This type of document can only be used by a donor wishing to appoint an attorney to manage their financial affairs and is only valid while the donor has mental capacity. As soon as capacity is lost the GPA is no longer useable and the attorney can’t make any more decisions for the donor.

So why choose a General Power of Attorney right now?

At the moment LPA applications are progressing quite slowly. The Office of the Public Guardian is doing it’s best to process applications within their target of 40 days, but like many companies right now they are running on reduced staff. This means that it’s taking longer to get an LPA registered, and if there are any issues with it it’s currently difficult to contact the OPG by phone.

The more pressing issue though are the barriers to getting the LPA completed in the first place. Completing an LPA requires a donor, a certificate provider, at least one attorney, and a witness to witness the donor and all attorney’s signatures. In an ideal world the certificate provider could act as the witness to all people involved limiting the amount of people who need to be involved in the signing, but even without the current social distancing rules managing to gather the donor and all of their attorneys together is a rare occurrence, with attorneys often living far away from the donor.

For a person who needs someone to make decisions for them right away a GPA can be a great alternative currently. There is no registration requirement, so the document is ready to use as soon as it has been properly signed. There are also less people involved in the creation of a GPA. The only people who need to sign are the donor themselves and a witness. There is no need for a certificate provider, and no need for the attorney to sign.

The GPA is executed as a deed poll by the donor, so the rules on who can act as a witness for them are not strict. The witness must be over 18, have capacity, and can’t themselves be a party to the deed. The attorney isn’t strictly a party to the deed as they aren’t a signatory, but it is still best to avoid them acting as a witness. What this does mean though is that someone else in the household could act as the witness, allowing the document to be made without placing anyone at any risk.

What this doesn’t mean…

This doesn’t mean that LPAs should be forgotten about altogether. Since a GPA ends if the donor loses capacity it is still best to make sure that steps are being taken to get an LPA put in place as soon as it’s possible to do so. The body content of your post goes here. To edit this text, click on it and delete this default text and start typing your own or paste your own from a different source.

source SWW

What happens if a Will is lost?

Wed, 03 May 2023 10:07:28 GMT

Benefits of professional storage

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Did you know that this can affect your Will?

Wed, 01 Mar 2023 09:56:28 GMT

2023 could be the year of change for you, whether it be a new home, new job, marriage, divorce, or a new member of the family. Whatever it might be, are you aware of some of the different ways in which your Will could be affected?

New Home

If you have bought a new home, congratulations! Does your current Will include your previous home address? If so, please get in touch with your will writer to have your Will updated to ensure your new property is covered in your Will.

What if this is not done? If for example your current Will gifts a property to your son and this property does not exist at the date of your death, the gift will fail.

Marriage

Did you know that marriage automatically revokes a Will? If your intention is for all your assets to go to your new spouse this is fine but at times, if you have children from a past relationship that you want to provide for, they can be disinherited. This would have the effect that on your death, your children receive nothing, everything passes to your new spouse and then to their loved ones.

Of course, your children could challenge the will under the 1975 Inheritance (Provision for Family and Dependants) Act, but this is costly and time-consuming.

To prevent the above, it is best to review your existing Will before you get married and either re-write it or include a contemplation of marriage clause in it. This is where you express a contrary intention to the ‘automatic revocation’ of your Will upon getting married. Specifically, this clause is a declaration within your Will that your intended marriage to your potential future spouse shall not have the effect of revoking your Will.

Divorce

Whilst divorce does not automatically revoke your Will, the reality is that you probably will not want your ex-spouse to benefit from your Will or any part of your estate.

The good news is that the ex-spouse is treated as if they died when the divorce was finalised (decree absolute) and therefore cannot inherit from you. If there are any gifts to them in your Will, they will fail. However, if you did want your ex-spouse to benefit from your estate or receive something in your Will, you would need to have a provision in your will to state Section 18a Wills Act 1837 will not apply.

Did you know an ex-spouse can try and claim from your estate on your death if they feel as if they should “have been given a piece of the pie” and had reasonable financial provision made for them? The best way to get around this is to exclude them from your Will and have the letter of wishes set out the reasons for this exclusion so if it ever is challenged, the Courts can look at what you have stated and consider it when reaching their verdict.

Children

Your current Will may state “children” or alternatively specifically name your children.

If your Will states “children” this provides for any children that are living at the date of your death. However, if your current Will specifically names your children and you have had more children since, you will need to update your Will to include them also.

With marriage could come step-children so let’s take a look at this now. Apart from legislation relating to the residence nil rate band, did you know step-children are not included in the automatic definition of “children, issue or descendants” when it comes to your Will?

You may class them as your own children as you have looked after them for many years but even if this is the case, they will not benefit if your Will gives your estate to your children. Of course, they can challenge the Will on your death but to prevent costly and time-consuming litigation, if you wish for them to benefit under the terms of the Will, either specifically name them or have “children and step-children” written in the Will. Your estate planner will advise on this during your meeting.

Property Abroad

If you own a property abroad i.e. Dubai? We would advise you to have a Will in place in the country where the property is held. It is important to ensure the Will is restricted to assets in that country only.

Why is this? If you write a Will in 2019 and then see a will writer in Dubai in 2022 and this specific Will is not restricted to assets in Dubai only, your 2019 will be revoked.

If you wish to make amendments to your Will, have a new Will written or any supporting documentation, simply contact Paragon Legal Services Ltd who will be able to assist with putting these changes in place or draft any new documentation for you. Remember, if you have a new Will written, it will revoke any previous Wills.

source SWW

Marriage, Divorce and Separation

info@paragonlegal.co.uk (Julia Newlove) — Wed, 17 Aug 2022 14:02:25 GMT

Marriage, Divorce and Separation

It is often misunderstood the effect your marital status can have on your Will, arguably sometimes it is particularly unclear. Maybe you wish to have a better grasp of where you stand and what is going to happen if you should pass away given your marital status.

This article aims to help clear up some of the lesser-known rules around Will Writing and Marital Status as the two are much more linked than you may suspect.

(A small disclaimer: all references to marriage and divorce are interchangeable with civil partnership and dissolution.)

Marriage/Civil Partnership

While we are all aware of what Marriage and Civil Partnership is, less commonly known is that marriage has a distinct effect on how you should write a Will. It is mistakenly believed that marriage has no effect on your Will and that there is no concern here.

But in fact, marriage can outright revoke your Will completely unless you take steps to ensure that this doesn’t happen. The reason this is a particularly important issue is that if you were to have children from a previous partnership and have a Will benefiting them, by marrying someone new you could be disinheriting them completely by accident.

So, if marriage automatically revokes a Will, but you don’t want this to happen to you when you do marry, then what can be done?

This is where the clause known as Contemplation of Marriage comes in, this clause is used in Will Writing where you express a contrary intention to the ‘automatic revocation’ of your Will upon getting married. Specifically, this clause is a declaration within your Will that your intended marriage to your potential future spouse shall not have the effect of revoking your Will.

Okay, but do we have to get married within a certain time limit for this to take effect?

The most common question we face is how long do you have before this statement becomes invalid? While there is not a concrete time period set, there is legal precedent that the marriage needs to be done within a ‘reasonable’ amount of time, the longer you leave it, the less likely the contemplation will be able to stand up to scrutiny by the court. If you leave it 30 years to marry, the courts are unlikely to look favourably upon this contemplation clause.

I have this clause in my Will, but I am with a new partner since then, is this clause still valid?

When it comes to the Contemplation of Marriage Clause, there is a restriction in that the Will is drafted with sole reference to the future spouse/civil partner that at the time the Will was made that you intend to be married to; this being set out in s18(4) of the Wills Act 1837.
If you have a new partner that you intend to marry, the clause from the first contemplation is invalid. A rewritten Will with a Contemplation Clause to the new specific person will need to be written for the clause to be valid.

Divorce/Dissolution

Just as in real life as under Succession law, divorce is never straightforward. While we have just seen how marriage can affect your Will, divorce also has its own unique effect on the Will. While it may seem logical that divorce would invalidate a Will, it interestingly only has the effect of treating your ex-spouse as if they died on the day of the divorce, as seen under Section 18a of the Wills Act 1837.

What would being divorced mean for my current Will?

Because of the divorce, even if your former spouse survived you, the Will treats them as if they died the day of the divorce and therefore cannot inherit from you by virtue of once being married to you. If your Will states they are to receive ‘X’ from you, they are unable to because under Succession Law they have died before you so any gift to them will pass on to the next person who is entitled.

However, unlike in marriage, there is no ‘contemplation of divorce’ clause, so something to watch out for is that until the Decree Absolute has been issued and the divorce officially completed, the other person is still for the purposes of your Will and Succession Law considered to be your spouse with all the entitlements that brings.

Okay so we know that divorcing means that the Will treats the ex-spouse as having predeceased and does not revoke the Will; what if you are separated but would still wish your spouse to benefit or act as an executor or trustee even after the divorce is finalised?

There is a clause for this in Will Writing where you express contrary intention to Section 18a of the Wills Act 1837, not too dissimilar to the contrary intention used in the marriage section.

What does stating this contrary intention do exactly?

By stating a clear contrary intention to Section 18a you are declaring that when your Will comes into effect, the presumption of divorce treating the ex-spouse as predeceased is ignored for the purposes of your Will; that it is your specific intention that they retain the ability to act and benefit as any other individual would under your Will.

Judicial Separation

An unfamiliar area of family law when it comes to the realm of Will Writing, it is more common to have clients who are either married/civil partners, divorced/dissolved or single/cohabiting. So, what is Judicial Separation and how does it affect writing a Will?

Judicial Separation, or otherwise known as a deed of separation does not have the same effect that a divorce has under s18a of the Wills Act 1837. While it is a legal form of separation where the partners have officially separated and have proven they are not cohabiting, it has rather unique rules when it comes to affecting the estate of a client depending particularly on one of two conditions: dying with a Will or dying intestate.

Example 1: Dying with a will that still benefits the spouse you’re separated from:

If you are to leave a Will that still benefits the spouse you are separated from, they still retain the right to that benefit.
As we saw in the previous section about Divorce, until a Decree Absolute is issued the spouse is still deemed as your spouse under succession law and is not excluded from benefiting under Section 18a.
If you wanted them to retain their benefit while completing the divorce, this would be the time to express to contrary intention set out in the previous section.

Example 2: Dying Intestate:

The simpler of the two examples, while dying with a Will creates a situation where you are deemed to still be married to the estranged spouse, dying intestate has an alternative take.
Under the rules of Judicial Separation when dying intestate, for the purposes of intestacy the course of action is more akin to divorce. Dying without a Will while Judicially Separated will dictate for the purposes of inheritance that the estranged spouse has predeceased the intestate.

Conclusion

In review, we can see each unique and interesting way that different areas of Marriage/Civil Partnership, Divorce/Dissolution and Judicial Separation can have a remarkable effect on your Will and hopefully we have made it clear how instrumental understanding how your marital status affects your Will is.

If you are thinking of having your Will written or realised that a change needs to be made to your Will as a result of this article, please contact us on 0800 0747642 or 01206 544919.

Source SWW

Importance of professional Will storage

info@paragonlegal.co.uk (Julia Newlove) — Tue, 26 Jul 2022 13:59:15 GMT

IMPORTANCE OF PROFESSIONAL WILL STORAGE

Wills are rather interesting documents because they’re the kind that you realistically can only have one of, foreign wills aside. A lot of documents these days we are used to having certified copies that can be provided as evidence of the document’s authority, but Wills are special in this way in that it is the original document that must be produced for probate (apart from in some extenuating circumstances).

So, if you can only have one original Will, then how do you make sure you keep it safe for when you pass and your family or friends need to find it? You may think you can store it at home, maybe in your cupboard or folder that you keep all other important documents. While you are absolutely within your right to do so, you ought to be aware of the risks as the Will would be vulnerable to damage or destruction by flooding or fire, loss and even theft.

So, why is protecting the Will important?

Your Last Will and Testament is as it says on the proverbial tin, the very last wishes you get to express in this world making it an extremely important document to those you leave behind. If your Will can’t be located after your death then your estate may end up being distributed totally differently to how you wanted.

Can I store it with my other important documents at home?

You absolutely can do that, but it isn’t always the recommended means of protecting your Will. It is important to make sure that your Will is kept safe, but what are the risks really?

Well, here are a list of risks you could face when storing your Will yourself:

Destruction by fire
Destruction by flooding
Malicious damage
Loss/theft of the Will
Accidental damage

What actually happens if my Will is destroyed or lost?

If your Will is last known to be in your possession, but since your death nobody can find it, there is a presumption that you have destroyed your Will with the intention to revoke it. This presumption can be rebutted, but with great effort. This obviously isn’t ideal as your estate may end up not passing to your beneficiaries how you wished, or great stress may be placed on your family who are faced with the process of seeking permission to prove a copy of your Will.

A copy of a Will can’t automatically be admitted to probate, even if it is an exact 1-2-1 match as a scanned copy of the original signed document. A ‘wet-ink’ signature is required for your Will to be valid . If your Will is lost or accidentally destroyed, your executors can apply to prove the copy of your Will instead and submit that to the Probate Registrar along with affidavit evidence giving detail of the circumstances of the loss or destruction, what efforts have been made to locate the missing Will, and what evidence there is to disprove the presumption that the Will was revoked by the testator. It must also include details of anyone who will be prejudiced if the copy Will is proved.

The situation becomes more complex if no copy of the signed will is available. An in-depth discussion on this process is beyond the scope of this particular article however, so advice should be sought from a suitably qualified estate planner or probate practitioner if required.

What benefits does professional Will storage provide?

A professional Will storage company often offers more than just the physical housing of your Will. Many provide services that not only protect your Will, but services that make it easy for your executor to retrieve your Will while protecting your interests. For example, by only releasing the Will upon receipt of a copy of your death certificate and only once the executor proves their identity.

So let us assess the risks of home storage and how professional storage handles these problems:

Fire Prevention
Flood Prevention
Restricted access, only released to you or authorised persons
Secured building
Safely filed away for when either you or your executors require it

Hopefully we have managed to illustrate to you the importance of professional Will storage and some of the risks you may face if you were to store your Will at home.

we receive many calls from the public who are hoping to locate the Will of their lost loved one, and we always hope that the Will is being properly stored so that we can help that family on the path to carrying out their loved one’s wishes.

Ultimately it is up to you how you wish to store your Will and the degree of risk you’re prepared to accept, so if you are curious to know more about storing your Will, please feel free to contact us on 01206 544919 or visit our website: www.paragonlegal.co.uk.

Photo by Jason Dent on Unsplash

Sourse: SWW

Provision for pets

info@paragonlegal.co.uk (Julia Newlove) — Wed, 29 Jun 2022 09:45:09 GMT

Provision for pets

When you think about making provisions for your estate after your death, what will often come to your mind is who should be your executor, trustee, whether there are any money gifts or specific gifts you want to make to family and friends and for those of you with minor children, the appointment of guardians.

Pets (and we mean the cute, furry type) can often be overlooked. However, you will be pleased to know that for those of you who are parents to fur babies or any other animals, you can make provisions for them in your Will.

You should think about who you would want to look after your pets on your death.

You may decide you want your best friend Megan to look after your 3 dogs, 2 cats, 2 rabbits and your guinea pig on your death. However, you may not have spoken to Megan about your intentions and on your death and Megan may decide the responsibility is too much. It is therefore best to speak to your chosen person during your lifetime to ask if they would be willing to take on the role rather than assuming they will accept this responsibility. Remember someone liking dogs is not the same as wanting to have dogs in their own home.

A good idea is also to appoint a substitute beneficiary if the original beneficiary predeceases you or decides at the time that they are no longer able to look after your pets due to illness or just a change of their own circumstances.

The second point to consider is whether you want to make any financial provisions in your Will to care for your pets. Pets can be expensive and costs can include things such as insurance, vet bills and the cost of feeding (especially where your pet is on a particular diet). This is something to consider when deciding who should inherit your pets and you may therefore choose to make a money gift to the beneficiary to assist them with the financial expenses in the care of your pets. We would advise any money gift is made conditional on the basis that the beneficiary chooses to take care of your pets.

An alternative to making a money gift to your chosen beneficiary is to create an animal purpose trust which is a particular type of trust created for the upkeep of specific animals. For more information on this type of trust, please see our article here .

As a pet owner, you may have certain wishes on how you would like your pets to be cared for. This can be set out in a letter of wishes but please keep in mind that a letter of wishes is not legally binding.

If there is no one suitable to take on the care of your pets, you should consider leaving your pets to the care of a charity instead. The RSPCA run a well-known ‘home for life’ scheme that a person may register their pets with during lifetime. The executors would notify the RSPCA of your death and the charity will aim to suitably rehome the pet. This gives you the peace of mind that your pets will be cared for after your death.

To make or update an existing Will please call on on 01206 544919 or 0800 0747 642.

Photo by https://unsplash.com/@lppoitras

Source: Society of Will Writers

Lasting Power of Attorney Myths

info@paragonlegal.co.uk (Julia Newlove) — Wed, 25 May 2022 09:09:42 GMT

Lasting Powers of Attorney - Myths

What are Lasting Powers of Attorney documents and what do they do?

Well, they come in two forms:

1. LPA for Health and Welfare decisions

Does very much what it says on the tin, it allows for an attorney acting on the donor’s behalf to consent to medical treatments and care decisions
Allows for the donor to provide instructions and preferences for how they wish their decisions regarding their health and welfare when they lack capacity

2. LPA for Property and Financial affairs

Similar to the previous form, this one allows for the attorney to manage the donor’s property and finances, though this can be due to the donor being away or having lost capacity
This form too can be guided by instructions and preferences of the donor to help restrict/guide how they wish for their property and finances to be managed when they can’t do it themselves

The Attorney acts on behalf of the Donor, though this is traditionally for when the Donor loses capacity, an LPA can be registered so that the Attorney can act where the Donor may be absent or otherwise indisposed.

Why do I need an LPA? My next of Kin can handle everything.

Most people believe that if they lost mental capacity, their “next of kin” would be able to manage everything for them, from their healthcare choices to their financial assets, but what they don’t realise is that the concept of a “next of kin” isn’t a legal concept. By that, I mean that it doesn’t have any actual legal meaning and does not grant a hypothetical next of kin any rights to help manage your assets or wellbeing.

I can just worry about having an LPA done when I lose capacity, even IF I lose capacity right?

Not correct, to give someone else the power to look after not only your finances but also to look after you and your healthcare wishes, you need to give your ‘attorneys’ the powers to act on your behalf while you still have the ability to give them this power.

If you were to lose capacity, by law you no longer have the means to give this power and your family/friend(s) will have to make an application to the court and go through a process that is far more arduous compared to simply having an LPA in place, known as deputyship. It can be costly, time-consuming and removes any form of choice away from you. Often the courts will choose who is to act on your behalf; should you lack any suitable candidates for the deputyship, the courts could even appoint the local authority instead. All in all, An LPA means you have chosen those who are to be your attorneys as well as your preferences/instructions to help guide them in ensuring your wishes are met.

Nobody can tell the future, so it is worth being prepared just in case; you might never lose capacity, but what if you do?

Our money is in a Joint Account, so we will still be able to access our money if one of us loses capacity.

Actually, if the bank learns that one of the owners of a joint account has lost capacity, it is likely going to freeze the account as one of the account holders can no longer consent to the use of the funds held in said account. Though the policy your bank employs for loss of capacity is something you can query them about.

I’ll lose capacity when I’m older so why should I worry, I’m only in my 30s/40s etc?

While it is true that most cases of loss of capacity take hold in the later years of one’s life, if you play sports/extreme sports or have a potentially hazardous line of work, you may find yourself needing an LPA a lot sooner than you’d imagine.

An example I would like to use is if someone in your family is a motorcyclist, likes to skydive or even Ski/Snowboard etc, these types of sports inherently bring about greater risk to health, both physical and mental. Not only through physical injury can we lose capacity, as the pandemic has shown us, a disease or illness can catch anybody out at unexpected times.

The LPA is for when you lose mental capacity only, so it’s only good for that right?

Take the case of the Londoner who cycles to work every day and the unfortunate happens, a series of events that lead to a collision between the cyclist and the bus.

Let’s say that they still retain their mental faculties, but they can’t leave the hospital, nor have the means to manage their financial affairs from the hospital bed; this is where an LPA for Property and Financial affairs would be useful.

They could sign an LPA for their family to manage their finances as they still have mental capacity, right?

While yes this is correct, at the time of writing, there is currently a 20 week (nigh on 6 month) waiting list for LPAs to be registered from the date of submission… not too helpful half a year from the day it’s needed.

Final Thoughts

These are just some of the myths and misconceptions that surround LPAs, and though there are many more others this piece does have to come to an end at some point! Hopefully this brief overview of the major points of misconception help clarifies any confusion you or someone you know may have experienced.

If you would like more specific advice/information, please contact us using the tab at the top of the page.

Source SWW

DO I NEED TO CHANGE MY WILL?

michael.peaks@localiq.co.uk (Localiq WebSupport) — Thu, 03 Mar 2022 15:18:38 GMT

You should review your estate planning upon any of the following events:

1. Marriage

If you marry your existing will is automatically revoked unless it was written in contemplation of that marriage and an appropriate clause included in the will to state this. If you are engaged and planning on marrying make sure you tell your Will Writer so they can help you plan your will accordingly.

2. Divorce

If you divorce any gifts in your will to your former spouse or civil partner are made void. As are any appointments of them as an executor, trustee, or guardian. Even though gifts to former spouses will fail after your divorce has been finalised it is still a good idea to review your will planning. After the divorce your financial circumstances may have changed, or you may want to reconsider how other beneficiaries will be provided for now you aren’t providing for your spouse.

You should also review your will planning if a beneficiary of yours divorces or is in the process of going through a divorce. This avoids disputes. There is also planning you could put in place to avoid a beneficiary’s share of your estate passing to their spouse in a divorce.

3. Change in law

It is important to keep abreast of changes in law that may affect your estate planning. This is especially important if you have a large estate that will be liable to inheritance tax (IHT) as if tax law changes and your will isn’t kept up to date your estate may end up paying more IHT on your death. In 2017 there as a large change to tax law that introduced the residence nil rate band – a special IHT allowance where your home is gifted to your children (or other direct descendants). If you haven’t updated your will to take advantage of this new allowance you ought to contact a Will Writer for a review as soon as possible.

4. General change in circumstances

It is also advised to review your will after other general changes in circumstances, such as when a beneficiary dies, or has children of their own. Relationships change over the years and unfortunately friends and family we were once close to may drift away so it is important to make sure your will always reflects your wishes; you probably don’t want to make that gift to the friend you fell out with! You may even wish to change your will to exclude a person who you previously inherited, but make sure you seek professional advice on this first.

On a happier note perhaps you have repaired a relationship with a formerly distant child and now want to change your will to benefit them.

If it’s been a while since you’ve reviewed your will or if any of your circumstances have changed then maybe it’s time to break it out of the safe and check you’re still happy with the contents. For a full review and to make sure your will is up to date with current law, please contact us on 0800 0747 642 or 01206 544919.

source: Society of Will Writers

I HAVE AN EPA, DO I NEED AN LPA?

Wed, 02 Mar 2022 16:02:07 GMT

I ALREADY HAVE AN EPA, DO I NEED LPA'S?

You may have an Enduring Power of Attorney (EPA) in which you have appointed people you know and trust, or a professional, to act as your attorney. This may be to help you manage your affairs now or limited to allow your attorneys to make decisions for you in future if you lose capacity to make decisions yourself. EPAs were replaced by Lasting Powers of Attorney (LPAs) from 1 ^st October 2007, so it has not been possible to create new EPAs since then.

If you have an EPA in place already you may be wondering whether or not you need an LPA. Often the answer to this question is no, there’s no need to replace your existing EPA if it was drafted and signed correctly and if your wishes remain the same. That’s not to say there aren’t good reasons for considering an LPA though.

1. EPAs only cover financial affairs

At the time you made your EPA it wasn’t possible to appoint attorneys to make decisions about your personal welfare. An EPA only deals with your finances and allows attorneys to make decisions about selling your home, making gifts, and managing your bank accounts and bills. To give someone legal authority to make decisions about your health, care, and life sustaining treatment you need a Health & Welfare LPA in place.

2. Creation of LPAs is more secure

The process of making an LPA is a bit more involved as there are more safeguards in place. For an LPA to be valid it must be signed by a certificate provider; this is a person who can confirm that you have capacity to make the LPA and that no one is placing any undue pressure on you to coerce you into making the document or appointing them as an attorney. This provides more protection for you if later on an attempt is made to set aside your LPA on the grounds of lack of capacity, as the certificate provider would be able to verify that you have capacity at the time the document was made.

3. LPAs let you appoint replacement attorneys

Under an EPA it wasn’t possible to name replacement attorneys, so if your original attorneys could no longer act for any reason the EPA would cease. This would leave you with no one in place to make decisions on your behalf unless an application was made to the Court of Protection to appoint a Deputy. In an LPA you can nominate replacement attorneys to step in and act if your original attorneys die or stop acting. This provides an additional safeguard for you.

4. More flexibility

LPAs allow a wider range of options for you to make your wishes known to your attorneys. Under an EPA you could include restrictions on how your attorneys can make decisions, or what they can make decisions about. This is still present in an LPA, now titled ‘instructions’, but additional to this an LPA lets you state your preferences. These are not binding on your attorneys but nevertheless still useful for letting your attorneys know how you would like them to act and what you would prefer they consider when making decisions on your behalf.

5. Stronger supervision

LPAs are safer. Unless you have included a restriction in your EPA that states otherwise, your attorneys can use your EPA while you have capacity and without registering it with the Office of the Public Guardian (OPG). The EPA only needs to be registered once you have lost or are starting to lose capacity. This unfortunately opened EPAs up to abuse by unscrupulous attorneys and was part of the reason that LPAs were introduced to replace them.

An LPA for financial affairs can be used either while you still have capacity or only after you’ve lost capacity (you can state which) but it must be registered with the OPG before the attorneys can use it.

The registration fee for both EPAs and LPAs is £82, payable directly to the OPG.

If you have an EPA in place now is a good time to consider reviewing your planning. Whether it is to keep your existing EPA in place but draw up an LPA for your Health & Welfare, or to replace your EPA with an LPA for Property & Financial affairs to take advantage of the stronger safeguards and flexibility.

For professional advice and support with creating an LPA, please call us on 0800 0747 642 or 01206 544919 and a member of the team will be more than happy to help.

source: Society of Will Writers

paragon-legal-services

Reasons to update your current Will

Unmarried Couples

Important information - LPA's

Blended Families

Revoking an LPA (Lasting Power of Attorney)

Revoking a Lasting Power of Attorney

﻿

WHY WRITING A WILL SHOULD BE TOP OF YOUR NEW YEAR'S RESOLUTION LIST

Writing your Will is one of the best things you can do to protect your loved ones and your assets.

General Powers of Attorney

So why choose a General Power of Attorney right now?

What this doesn’t mean…

What happens if a Will is lost?

Benefits of professional storage

Did you know that this can affect your Will?

New Home

Marriage

Divorce

Children

Property Abroad

Marriage, Divorce and Separation

Marriage, Divorce and Separation

Marriage/Civil Partnership

Divorce/Dissolution

Judicial Separation

Conclusion

Importance of professional Will storage

IMPORTANCE OF PROFESSIONAL WILL STORAGE

﻿

So, why is protecting the Will important?

Can I store it with my other important documents at home?

What actually happens if my Will is destroyed or lost?

What benefits does professional Will storage provide?

Provision for pets

Provision for pets

Lasting Power of Attorney Myths

Lasting Powers of Attorney - Myths

1. LPA for Health and Welfare decisions

2. LPA for Property and Financial affairs

Why do I need an LPA? My next of Kin can handle everything.

I can just worry about having an LPA done when I lose capacity, even IF I lose capacity right?

Our money is in a Joint Account, so we will still be able to access our money if one of us loses capacity.

I’ll lose capacity when I’m older so why should I worry, I’m only in my 30s/40s etc?

The LPA is for when you lose mental capacity only, so it’s only good for that right?

Final Thoughts

DO I NEED TO CHANGE MY WILL?

1. Marriage

2. Divorce

3. Change in law

4. General change in circumstances

I HAVE AN EPA, DO I NEED AN LPA?

I ALREADY HAVE AN EPA, DO I NEED LPA'S?

1. EPAs only cover financial affairs

2. Creation of LPAs is more secure

3. LPAs let you appoint replacement attorneys

4. More flexibility

5. Stronger supervision