Will Related Matters

So often our largest asset is stripped away from us whilst we live, leaving very little to pass on to our loved ones as an inheritance.  This is often because we leave our property vulnerable to being sold to pay for residential or nursing care.

An integral part of giving your Will instructions is the protection of property, normally by: becoming Tenants In Common; giving a life interest in the property to surviving spouse or other interested party; Willing your portion away to chosen beneficiaries.

Half a house cannot be sold to fund care, and only those assets belonging to the person in care can be assessed, preserving the remainder for your beneficiaries.

A Joint Tenancy In Common arrangement will also protect your share of the property if the widow(er) remarries, protecting your share of the property for the benefit of your nominated beneficiaries.

You may also wish to consider:

·         Advance Directive (Living Will).

·         Lasting Power or Attorney.

·         Mitigation of inheritance tax.

·         Leaving a legacy to your church or favourite charity.