In a divorce case involving a couple with assets of more than £260 million, the Family...
Planning for the future is essential, yet many people put it off until it’s too late. Regardless of your age, it is never too early to make provisions for yourself in later years or to ensure your loved ones are taken care of after you're gone. At Willett & Co Solicitors, we provide expert guidance to help you make informed decisions, giving you the peace of mind that your affairs are in order.
In addition to advising on Inheritance Tax (see our Wills section), we can assist with Income Tax and Capital Gains Tax, helping you complete your Self-Assessment Tax Return while ensuring all eligible exemptions and reliefs are claimed.
Our services include:
Lasting Powers of Attorney (LPAs)
If illness or an accident leaves you unable to make decisions for yourself, someone will need to manage your affairs. A Lasting Power of Attorney (LPA) allows you to choose a trusted person to handle your financial, health, and care decisions. Setting up an LPA while you are fit and well makes things significantly easier for your family in the future.
If a loved one has already lost mental capacity without making an LPA, we can assist with applications to the Court of Protection for the appointment of a deputy—a process that can be complex and time-consuming.
Long Term Care Planning
It can be difficult to think about a time when you may no longer be able to live independently. Planning ahead ensures that any future care needs are met without the unnecessary sale of your home. We can advise on care home funding rules, helping you understand your options for financing long-term care.
Elderly Client Service
If you or a loved one requires assistance with legal or financial matters in later life, we offer a range of services, including:
- Advice on home care arrangements
- Liaising with local nursing homes
- Protecting assets from the Social Services financial assessment
- Home visits at an agreed time and cost
Living Wills
A Living Will allows you to set out your preferences regarding medical treatment if you become seriously ill. There are two types:
- Advance Statement – Outlines your care preferences, such as religious beliefs, dietary requirements, and where you would like to be cared for.
- Advance Decision – Legally records your decision to refuse specific treatments, including life-sustaining care, should you become unable to communicate your wishes.
We provide expert advice to ensure your instructions are legally binding and respected.
Inheritance Tax Planning
Reducing the Inheritance Tax payable on your estate can be complex, but with careful planning, there are many ways to minimise tax liabilities. Depending on your circumstances, we can outline suitable options and explain their advantages and disadvantages, helping you make the best choice for your beneficiaries.
Trusts
A Trust is a legal arrangement allowing you to manage assets for the benefit of others. Trusts can be set up during your lifetime or through your Will. They are governed by strict legal and tax regulations, and we can provide clear advice on how a trust could benefit you and your family.
Guardianship
If you have young children, appointing guardians ensures that someone you trust will take care of them should anything happen to you. While many people name godparents, legal guardianship is a separate and important decision, usually made when drafting a Will. More information can be found in our Wills section.
Contact Us
For more information on Lifetime Planning, contact us at 01284 701323 or email using the Contact Us link.