Vast majority of adults do not have a Will and do not understand the impact that this could cause tomorrow. The Rules of Intestacy will apply resulting in the possibility of the following scenarios:
- It is not a given that a surviving spouse will inherit everything;
- The family home may have to be sold;
- An unmarried partner has no automatic entitlement;
- Children may inadvertently not inherit anything;
- Inheritance tax may be payable resulting in your spouse and/or children having to foot this bill.
Whether you have little or no assets or your Estate is worth a fortune, we treat everyone with the same level of attention and service. It does not matter whether you require a simple Will or you require a Trust and Estate Planning Will, Parity Legal is well-equipped to deal with these matters.
The Lawyers at Parity Legal will guide you in ensuring that your interests are protected in the event that you pass away. This gives you the added assurance that your affairs are in order knowing that you did everything you could to protect those that you wish to benefit from your Estate.
If you do not have a Will or your Will has not been updated in years or your financial situation has dramatically changed since you last wrote a Will, Parity Legal would urge you to seek legal advice as soon as possible.
(Probate or Intestacy)
When someone passes away, there are important legal affairs that need to be undertaken. The first thing that you need to do is to ascertain whether the deceased person left a valid Will.
If there is a valid Will, then the named Executors on the Will take on the task of dealing with the Estate Administration. In the event that the deceased person did not leave a valid Will, the Intestacy Rules will determine who can be appointed as the person or persons to administer the Estate.
The role of an Executor or Administrator can be an arduous one, especially at a sensitive and emotional time. The Estate of the deceased could be complex and involve valuable matters. An Executor or Administrator is personally liable for ensuring that the Estate is administered correctly.
Even if a valid Will is in place naming individual Executors, or a person feels burdened to become an Administrator in the event that there is no valid Will, any person can instruct a Lawyer to deal with the administration of the Estate.
Our specialist Lawyers have vast experience in dealing with Probate matters and would be happy to assist you.
Powers of Attorney
A Lasting Power of Attorney (“LPA”) gives you more control over what happens to you if you have an accident or an illness and cannot make your own decisions, which in legal terms would mean that you “lack capacity”. An LPA is another important component of sorting out your affairs.
You must be 18 or over and have the ability to make your own decisions when you make your LPA. You do not need to live in the UK or be a British citizen.
The two types of LPA are set out below. You can have either one or do both simultaneously but the time that they can be used are different.
Health and welfare lasting power of attorney
Use this LPA to give an attorney the power to make decisions about things like:
- your daily routine, for example washing, dressing, eating
- medical care
- moving into a care home
- life-sustaining treatment
It can only be used when you’re unable to make your own decisions.
Property and financial affairs lasting power of attorney
Use this LPA to give an attorney the power to make decisions about money and property for you, for example:
- managing a bank or building society account
- paying bills
- collecting benefits or a pension
- selling your home
It can be used as soon as it’s registered, with your permission.