Estate planning

This is the process of anticipating and arranging for the management and disposal of your assets during your life and at and after your death, whilst minimising tax.

Estate planning also includes planning for incapacity so someone you trust can deal with your affairs if you get to a point in life where you can no longer act for yourself.

Other areas of Estate Planning are reducing or eliminating uncertainties over the administration of your estate on death and maximising the value of the estate by reducing taxes and other expenses.

The ultimate goal of estate planning is determined by your own the specific goals and priorities.

Good estate planning should include

  • Instructions for passing on your assets
  • Naming a guardian and a trustee for your minor children.
  • Making provision for  your family members with special needs without disrupting government benefits or leaving them open to financial abuse
  • Providing for your loved ones who might be irresponsible with money, or suffer with addiction issues or who may need future protection from creditors or divorce.
  • Passing on your business at your retirement, disability, or on death.
  • Minimising the taxes, court costs or unnecessary legal fees.
  • Making instructions for your care if you become incapacitated through accident or illness.

Estate planning is for everyone.
No one can successfully predict how long we will live and illness and accidents happen to people of all ages.

Estate planning is not just for the wealthy, good estate planning often means more to families with modest assets, because they can afford to lose the least.

Many of us don’t plan

  • You think you don’t own enough
  • You are too young to think about it yet
  • You are too busy
  • You have plenty of time left
  • You are confused
  • You do not know who can help
  • You don’t want to think it.

But when something happens your family has to pick up the pieces.

If you fail to plan the law has one for you!
If you lose capacity through accident or illness and you own assets and you become unable to conduct financial dealings due to mental or physical incapacity, only a court can appoint someone to deal with your affairs.

Then the court not your family will control how your assets are used to care for you. It can be expensive and time consuming,

If you die without a Will your assets will be distributed according to the Laws of Intestacy.   If you have minor children the court will control their inheritance.

If both parents die before your children are 18 the court will appoint a guardian without knowing whom you would have chosen.

The best time to plan your estate is now.
None of us really likes to think about our own mortality or the possibility of being unable to make decisions for ourselves. This is exactly why so many families are caught off-guard and unprepared when incapacity or death does strike. Don’t wait. You can put something in place now and change it later…which is exactly the way estate planning should be done.

The best benefit is peace of mind.
Knowing you have a properly prepared plan in place – one that contains your instructions and will protect your family – will give you and your family peace of mind.

Call now on 01869 226760 or email gail@bicesterwills.co.uk to make an appointment that’s convenient for you either in your own home or at our office 10 Crown Walk Bicester Oxon OX26 6HY

Services

Wills    

Just wanted to let you know how happy I am with the service provided by Bicester Wills, in the sensitive handling of my Will.
Your service has been exemplary. You handled my situation in a professional, knowledgeable, yet friendly manner that far exceeded my expectations. Nothing ever seemed to be too much trouble to you and I was made to feel unique

Karen B

Make your voice heard!

Legally, you can have someone else to speak for you if you’re no longer able to do so. You need to complete and register a Lasting Power of Attorney to give the person or people you trust the legal power to be your voice.
There are two types of Lasting Power of Attorney (LPA), and at the moment a lot of people are setting up Health & Welfare LPAs.

Having tough conversations

People who are already vulnerable are concerned about the Coronavirus.  People working on the front line in healthcare, public transport, and other key roles know that they are risking their health and that of those they live with.
Talking about healthcare wishes, talking about financial and funeral arrangements, talking about Wills and Lasting Powers of Attorney… Big topics.

Making a Will or LPA from home

You won’t be surprised to learn that the COVID-19 outbreak has made lots of people think about their Will, or who will help them with their money or decisions about medical treatment if they are hospitalised. We want to make it as easy as possible for you to have peace of mind about these things. You can access any of our services by telephone consultation, and do not need to visit us in our office or invite us to your home.

How do I manage the money when someone dies?

When someone dies, their money and possessions have to be sorted out.  If they had a Will, there will be named Executors who take this on. If they did not have a Will, then usually the next of kin is the person responsible. These people are legally allowed to manage the ‘estate’, and are known as the Personal Representatives (PRs).