Wills & LPAs

What is a Will?

A Will is one of the most important documents you can have as it makes sure your assets pass to the person, or persons, you want them to. Nobody likes to think about it too much, but inevitably one day you will have to leave your possessions and property to someone.

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A Will deals with what will happen to your assets when you die.

The key reasons to have a Will can be summarised as follows:

  • Provide an inventory of assets, especially in cross border Estates.

  • Clearly set out the deceased’s final wishes for the ownership of assets to minimise the chances of conflict. A Will, or side letter, might even set out reasons for such decisions.

  • Avoid uncertainty or unintended consequences (such as the intestacy rules).

  • Tax optimisation: Arranging for assets to be transferred to the Beneficiaries in  the most Tax efficient manner

  • If you have no plan in place for your minor children and they are left parentless, a Judge gets to decide who will be their Guardian.

Put simply, dying without a Will in place can cause issues for those left behind.

It is a misconception that your assets will automatically pass to your closest family member and/or loved ones. For example may people think that their possessions will automatically pass to their spouse, when in fact, the first £270,000.00 will pass to their spouse and the remainder of their Estate will pass 50% to their spouse and 50% to their offspring.

If the rules of intestacy  (dying without a Will) direct where a person’s assets go, it is possible that your assets may not pass to the person, or persons, you want them to.

A Will is one of the most important documents you can have as it makes sure your assets pass to the person, or persons, you want them to.

that passes to loved ones.

 

What work we will undertake for you?

Unless otherwise instructed, we will undertake the following work for you

 

  1. Take instructions in relation to the content of your Will and provide you with advice as to the content and effect of it.

 

   2. Draft your Will in preparation for signature

 

   3. Go through the Will with you and explain the content and operational effect of each clause.

 

   4. If you are happy with the content, we will complete and witness the signing of the Will, to ensure that it is executed in the   correct manner

 

   5. Create a file note to detail that the Will was signed in the correct manner and to provide evidence that you had capacity to make the Will, that you made the Will free of Undue Influence and that it was executed in the correct manner. This evidence can then be presented if anyone was to challenge your Will at a later date.

 

   6. Provide you with a copy of your Will for your records. Unless otherwise instructed, we will retain the original and place it in our strong room. This service is free of charge and mean that if the copy of the Will is misplaced, we can provide you a further copy, again free of charge.

 

Time frame

We will strive to see you within one week of initial instructions to go through the initial draft of your Will.

Fees

Our fees for a simple, standard, Will are one hundred and fifty pounds (£150.00) plus Vat of thirty pound (£30.00) totalling one hundred and eighty pounds (£180.00)

If the Will is not a simple, standard, Will, the following charges will apply. If these rates are to be applied, you will be advised of this at our initial meeting, or when it becomes evident to me that they will need to be applied.

A charge for all work undertaken in relation to this matter. Our hourly rates are.

  1. £220.00 per hour, exclusive of VAT

  2. £22.00 per letter out, exclusive of VAT

  3. £22.00 per telephone call, exclusive of VAT. Any telephone call exceeding 6 minutes will be charged at our standard hourly rate.

  4. £11.00 per letter in, exclusive of VAT.

 

If a home visit is required we may charge a fee of seventy five pounds (£75.00) per visit, plus Vat.

Disbursements

  1. Office copy entries - £3.00 (no VAT)

  2. Identification of client - £10.00, plus VAT

Any other disbursements will be discussed with the client prior to being incurred.

Fee earners specialising in this field.

  1. Richard Matthew Davies LLB (Hons) – Partner – 3 years post qualification experience

 

   2. Alan Michael Davies LLB (Hons) – Partner – 8+ years post qualification experience

 

   3. Jonathan David Crosskey LLB (Hons) – Partner – 8+ years post qualification experience

 

VAT

All VAT is currently charged at 20%.

 

What are Lasting Powers of Attorneys?

An LPA covers decisions about your financial affairs, or your health and care. It comes into effect if you lose mental capacity, or if you no longer want to make decisions for yourself. You would set up an LPA if you want to make sure you're covered in the future.​ 

What work we will undertake for you?

Unless otherwise instructed, we will undertake the following work for you

 

  1. Take instructions in relation to the content of your Lasting Power/s of Attorney and provide you with advice as to the content and effect of it/them.

   2. Draft your Lasting Power/s of Attorney in preparation for signature

   3.  Go through the Lasting Power/s of Attorney with you and explain the content and operational effect of it/them.

   4. If you are happy with the content, we will complete and witness the signing of your Lasting Power/s of Attorney, to ensure that they are executed in the correct manner.

   5. Create a file note to detail your wishes in relation to your Lasting Power/s of Attorney, along with a detailed note confirming that you had capacity to complete the document/s and that you did so of your own free will.

 

​   6. Arrange for any and all attorneys to sign the documentation

 

   7. Register the documentation with the Office of the Public Guardian

   8. Provide you with a copy of your Lasting Power/s of Attorney for your records. Unless otherwise instructed, we will retain the originals and place them in our strong room. This service is free of charge and mean that if the copy of the Lasting Power/s of Attorney are misplaced, we can provide you a further certified copy, again, free of charge.

Lasting powers of attorney (LPAs) let you choose a person, or people, you trust to act for you in certain circumstances. This person is referred to as your ‘Attorney’, and you can choose what decisions they are allowed to make for you.

Benefits of making an LPA

  •  It can be reassuring to know that, if you are unable to make a decision for yourself in the future, the person you choose will make these decisions for you.

 

  • Making an LPA ensures that the person you want to make decisions for you will be able to do so. This prevents a stranger, or someone you may not trust, from having this power.

 

  • Making an LPA now will make things easier for your family and friends in future. It will be more expensive, difficult and time-consuming for them to get the authority to act on your behalf when you are not able to give it.

 

  • Making an LPA can start discussions with your family or others about what you want to happen in future.

 

Types of LPA

There are two types of LPA’S, detailed below.

Property and affairs LPA - A Property and Affairs LPA covers decisions about your finances and property. If there comes a time when you can’t manage your finances anymore, the person you appoint as your Attorney will be able do this for you. This can include paying your bills, collecting your income and benefits, or selling your house. However, if you want to, you can limit the decisions they are allowed to make, or place conditions on what they can do.

Health and welfare LPA - A Health and Welfare LPA allows your attorney/s to make decisions on your behalf about your health and welfare, if there comes a time when you are unable to make these decisions for yourself. Your Attorney/s, for health and welfare, could make decisions about where you live, for example, or your day-to-day care, including your diet and what you wear.

You can also give your Attorney/s the power to accept or refuse life-sustaining treatment on your behalf. You will be asked whether, or not, you want to do this on the form, and you will need to state your intention clearly.

What happens if I don’t make an LPA?

If you don’t make an LPA, and later become unable to make certain decisions for yourself, there may be a time when no one can legally make decisions for you. This can make things difficult, such as paying bills, settling bills for the cost of your care, or making decisions about your future care. If it becomes necessary to sell your property, because the property you are living at the time does not meet your needs, a failure to have an LPA in place can make the process unnecessarily difficult and time consuming.

If this happens, someone may need to apply to the Court of Protection to become your Deputy. This gives them similar powers to that of an Attorney.

A relative, or friend, can apply to be your Deputy, or a professional may be appointed. Without an LPA, it is possible for anyone to apply to become your Deputy and you could, therefore, end up with a person, or persons, whom you would not have chosen to make decisions on your behalf, making them. An LPA allows you to select the person/s you want to make decisions on your behalf.

The process of becoming a Deputy is a lot more time-consuming and expensive than an LPA. A Deputy must also do some things on an ongoing basis, such as paying an annual fee and submitting an annual report, so it is usually easier for someone to be an Attorney rather than a Deputy.

 

Time Frame

We will strive to see you within one week of initial instructions to go through the initial draft of your LPA or LPA’s.

 

Fees

Our fees for drafting a Lasting Power of Attorney are three hundred pounds (£300.00) plus Vat, sixty pounds (£60.00).

There is a further fee of eighty-two pounds (£82.00) payable to the Office of the Public Guardian to register the Lasting Power of Attorney

Our fees for drafting both Lasting Powers of Attorney are three hundred pounds (£300.00) plus Vat, sixty pounds (£60.00), each. The total figure for two being six hundred pounds (£600.00) plus Vat of one hundred and twenty pounds (£120.00).

 

If a home visit is required we may charge a fee of seventy five pounds (£75.00) per visit, plus Vat.

Disbursements

  1. There is a fee of eighty-two pounds (£82.00) payable to the Office of the Public Guardian to register each Lasting Power of Attorney. The fee to register both Lasting Powers of Attorney is one hundred and sixty-four pounds (£164.00)

  2. Office copy entries - £3.00 (no VAT)

  3. Identification of Executors and Beneficiaries - £10.00, plus VAT

Any other disbursements will be discussed with the client prior to being incurred.

Fee earners specialising in this field.

  1. Richard Matthew Davies LLB (Hons) – Partner – 3 years post qualification experience

 

   2. Alan Michael Davies LLB (Hons) – Partner – 8+ years post qualification experience

 

   3. Jonathan David Crosskey LLB (Hons) – Partner – 8+ years post qualification experience

 

VAT

All VAT is currently charges at 20%.

 

Contact us to find out more or to arrange a consultation with a solicitor experienced with Wills and LPAs in Newtown or Llanidloes.