Surely I am not the only landlord worried about new EPC requirements?9:44 AM, 17th February 2021
About A week ago 123
We’ve recently embarked on a new initiative to provide Estate Planning advice to people who need it most, whilst at the same time supporting charities that support families who are affected by the devastating news none of us want to hear but most of us experience at some point in our lives.
The plan is to ‘partner’ with charities by donating 10% of fee income resulting from people they refer to us for Wills, Lasting Powers of Attorney, Probate and Trust work. Of much greater benefit to the charities though will be the increased potential to secure legacies which in turn will secure the long term futures of their good work.
The need for Estate Planning affects us all, none of us are immortal.
Wills determine more than simply who gets what, they also make provisions for guardianship of children and afford people an opportunity to leave a legacy to charities that have supported them or their loved ones through times of greatest need. Without a Will there are laws that will dictate who gets what from an estate and those laws might not be in accordance with your personal wishes. For example, Social Services may well get a say in who looks after children under the age of 18 if a Will hasn’t been made. Many people don’t like to consider their own mortality and that’s why 70% of the population have not made a Will or updated one previously made over 5 years ago.
Lasting Powers of Attorney give you the right to decide who will look after your financial affairs and personal welfare if you are ever in a position where you can’t make your own decisions. For example, property investors may find themselves in a position where a Civil Servant has a say over and above their family over what happens to their property portfolio following an accident, stroke or illness that renders them incapable of making their own decisions.
Trusts can help to avoid inheritance tax. Writing life insurance into trust is a simple example of something that most people with life insurance policies need to consider but only a very small percentage of people with life insurance have actually done this.
The firms typical charges for a full Estate Planning Service are £600 and include:
Additional services, for example, to protect a home from long term care costs or further Trusts and advice to mitigate inheritance tax liabilities are also available.
Fees for drafting a Will only start at £110 and this also includes the Consultants visit and VAT.
If you are connected with a charity who may want to consider working on this initiative please call James Hildreth on 01603 894504.
Alternatively, if you would like to discuss your own estate planning situation or discuss the position of a friend or loved one please speak to our Customer Care Team on 01603 428500
What happens to mortgages when a landlord dies?
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