It’s very unfortunate that people only realise that they should have put a Lasting Power Of Attorney agreement in place when it is too late. In essence, a Lasting Power Of Attorney enables family members and close friends that you trust to make decisions on your behalf, so if you do not legally give them the capability to do so, these decisions will then be made by others.
Your loved ones may or may not have a say, but Lasting Power Of Attorney will grant them permission to actively suggest and carry out tasks for you, in the way you would have wished.
In addition, whilst you plan your future, it is essential to think of Estate Planning, to ensure your affairs will be looked after efficiently. In particular when it comes to mitigating inheritance tax that may be due.
If you are looking for different ways to protect your assets, then you should look at putting your property in a trust. These are the most popular types:
- Protective Property Trust, which allows you to leave your assets to a spouse.
- Life interest Trust
- Interest in Possession Trust
For more information or to discuss your needs, please call John Ireland now
on 0208 547 2583 or email, firstname.lastname@example.org
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