Professional Services
Standard Wills
The purpose of a Will is to ensure that your instructions are carried out in the event of your death. This will avoid relying on the Rules of Intestacy set by the government and makes sure that any minor children will remain with their loved ones rather than being taken into care whilst Social Services decide where the children should go.
Your Personal Estate Planner will guide you through the setting up of your Will to ensure you include everything you need.
Protecting your assets
You can include more than just standard provisions in your will.
It is legally possible to provide lasting protection to those you leave behind with the use of will based trusts.
By creating trusts in your Will it is possible to provide greater protection of your assets. Trusts can protect against ‘attack’ from many sources:
- Bankrupcy
- Divorce/remarriage
- Care home fees
- Inheritance tax (IHT)
- Loss of disability benefits
Making a Will is the first step to planning ahead, your Personal Estate Planner will establish your circumstances and advise you of the best way to ensure that your wealth remains with your loved ones, no matter what happens.
Lifetime Trust Planning
You retain control of the assets inside your Trust whilst gaining from all of the benefits that it would provide. You could potentially avoid the need for probate, protect your assets from creditors or your children’s divorce. There is the added benefit that future generations can legally avoid Inheritance Tax on the legacy that you have provided when you eventually pass away.
This is a specialist area of planning and great care must be taken when entering into such an arrangement.
Lasting Powers of Attorney
Looking after someone’s finances if they become incapacitated can be a difficult and protracted and expensive process.
Loss of capacity often makes things very difficult for a spouse, partner or family. Bills could go unpaid and if cash is needed for any purpose, it could be inaccessible.
Setting up a Lasting Power of Attorney (LPA) with My Will Company would allow someone that you trust to act on your behalf should the need arise. Your chosen person, known as your Attorney, can then manage your affairs in your best interests. This could be in the long term or until such time that you recover and are able to take control again yourself.
There are two types of LPA, both of which My Will Company can help you with:
A Property and financial Affairs LPA
This allows your Attorney to:
- Manage your finances
- Maintain your property
- Make sure your bills are paid
- Make decisions about your assets
A Health and Welfare LPA
This allows your Attorney to:
- Make decisions about your medical treatment
- Decide whether it’s best for you to continue to live at home or whether residential care would be more appropriate
- Ensure that your quality of life is maintained as you would want.
If you don’t have an LPA then the process to gain access and control can be an expensive process and can take up to 12 months. Who would pay your bills and look after your family in the meantime?
Setting up an LPA with My Will Company is straight forward and simple. It involves a free, no obligation consultation with your Personal Estate Planner. Contact us to arrange a free no obligation consultation.
Create Lasting Power of Attorney to put your future in safe hands
Inheritance Tax Planning
When your individual estate is valued at more than £325,000 at the date of your death; your executor may have to pay inheritance tax before distributing your wealth to your loved ones. My WIll Company is able to offer solutions which can assist in reducing any Inheritance Tax Liability.
The tax allowance for Inheritance Tax or the ‘Nil Rate Band’ as it is more commonly known is frozen until the end of tax year 2020/2021. There is also now the added complication of the Residence Nil Rate Band which will increase annually until 2021. Your Personal Estate Planner can assist you in maximising the use of your allowances in order to reduce any potential liability.
Funeral Costs Planning
A pre-paid funeral plan is an inflation busting easy way to plan ahead. You choose the funeral you want and fix the Funeral Director’s costs at today’s prices.
A pre-paid funeral plan can save your family distress and expense at the most difficult of times. Instead of rushing around making arrangements, it’s a simple phone call to activate the plan and set your arrangements in motion.
The costs of a funeral are increasing at a rate far in excess of inflation. The average cost of a funeral in 2004 was £1,920* and by 2014 it had risen to £3,609*. It has almost doubled in 10 years! If only our salaries or pensions increased at the same rate.
Arranging for a pre-paid funeral plan is really straight forward.
Probate
Here at My Will Company we work in association with Countrywide Tax & Trust Corporation Ltd to offer a full and comprehensive and cost effective probate service. In the event of your death, together we are able to assist your family by taking care of the probate formalities.
Same Sex Couples
At My Will Company we take your personal circumstances into account and create a personalised solution to meet your needs. When you get married it has serious implications to your will. In fact, it can make your will invalid! Don’t leave it to chance please call us today on 01273 956562 to find out more or use our simple form here.
Secure Document Storage
Once you have taken the important step of having your Wills or any other legal documents drafted it is crucial that you keep them safe and secure.
Should the worst happen it is important for those left behind to have a stress free procedure to find your documents and have a helping hand to guide them through what happens next.
Our Secure Storage Service will ensure that all of your important documents are kept safe for when they are needed giving you the peace of mind that your wishes will be carried out.
Should you have important documents that need to be stored it couldn’t be simpler.
Financial Services
We are not a Financial Services provider but believe that it is vital to engage the services of Professional, Ethical Financial Advisers when you are planning for the future.
Our sister company My Mortgage Company are independent mortgage and insurance brokers who can assist in other parts of your financial life.
- Mortgages
- Life Insurance
- Equity Release
- Pensions
- Savings and Investments
- Business Insurance
- Buildings and Contents Insurance
- Buy to Let Mortgages
- Specialist Insurances
Should you require any further info please contact us to arrange a free no obligation consultation with My Mortgage Company on 01273 956564 or email info@mymortgagecompany.co.uk