What can a person do with a Power of Attorney?
You can appoint someone with the Power of Attorney to deal with your property and financial affairs, such as operating a bank account, buying and selling property, or changing investments.
What is the meaning of Probate?
Probate is the process of dealing with the Estate of a person who has died, such as clearing their debts and distributing their assets in accordance with their Will.
Can you write your own Will?
You can write your own Will. You should seek advice if your Estate is not straight forward or if you wish to make sure you do not pay more inheritance tax than you need to.
What is a Trust, and how does it work?
A trust is a legal arrangement where trustees control assets or money, which must be used to benefit one or more people listed in the Trust.
Do I need Probate if there is a Will?
Usually, Probate or Letters of Administration are required for an Estate to be dealt with if a property is included.
At RDK Wills in Southend, we will help you through the process of Will Writing and Estate Planning, providing clarity about the options available to you. We specialise in the following:
Wills, Trusts and Lasting Powers of Attorney
For friendly and trusted advice in Southend
please call us on 07939 524788
WHAT IS POWER OF ATTORNEY?
Power of Attorney is the process where the Testator appoints someone to act on their behalf to deal with third parties, such as banks and local councils.
WHAT ARE THE FOUR BASIC TYPES OF WILLS?
Living Will, Testamentary Trust Will,
Single Will and Joint Will.
ARE TRUSTS A GOOD IDEA?
A trust can be a good way to reduce the tax to be paid on your inheritance. If you put things in a trust, they do not belong to you.
WHAT SHOULD YOU NOT INCLUDE IN A WILL?
Some examples of assets not included in a Will are joint bank accounts, joint tenancy property, pension benefits, life insurance and business partnership.
Frequently Asked Questions
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To ensure your assets reach your children and grandchildren, estate planning advice can help you to look at the bigger picture, giving you the piece of mind that your loved ones are taken care of in the event of your passing.
Making a Will provides the peace of mind that comes with the knowledge that you are safeguarding your children and passing on your assets to your surviving family in the event of your death.
After all, it is entirely natural to want this for them.
Conversely, without a Will your assets will not be distributed according to your wishes.
A fundamental reason for setting up Trusts is to manage the tax payable on your assets.
Simply put, if your assets are assigned to a Trust, they do not belong to you and, as such, this will reduce your tax liability.
Setting up a Trust is a flexible way of reassigning assets without passing them absolutely to Beneficiaries.
There may come a time in your life when you are unable to manage your financial affairs due to illness or incapacity, and you will need someone to act on your behalf.
This is not solely limited to the elderly. People of any age may be inflicted by illness, and in need of someone they trust to take over the running of their money, health and welfare.
Your Southend based Adviser
Rodney (Ned) Kelly
Wills and Estate Consultant
. "As you build up your wealth, and bring up a family, you have the right to pass on as much as you can to your children, grandchildren and anyone that you want to pass on your wealth. I see my role as helping make that happen as tax efficiently as possible."
Rodney (Ned) Kelly is a member of the Society of Will Writers
"Trusted advice delivered in a friendly way that provides you and your family with solutions to your estate planning needs"
"While being based in Southend, we provide tailored and professional advice to help people all over South Essex "