ELDERLY CLIENTS SERVICES
Court of Protection
If a person lacks capacity to make decisions for themselves and they haven’t made a power of attorney it can become necessary for someone to be appointed to act on their behalf. A person may lack capacity to make their own decisions for a number of reasons, perhaps because they have learning disabilities or due to serious illness or injury.
Dealing with an Estate
Depending on the assets that the deceased left you may need to apply for a grant of representation (often commonly referred to as a grant of probate) from the probate registry before you are able to deal with any of the deceased assets. You may have inheritance tax to pay and complex forms to complete.
Equity release refers to a range of products that allow you to access the ‘cash’ (equity) that is tied up in your home. If you are over the age of 55, you can take the money you release either as a lump sum or in several smaller amounts or even as a combination of both. It is a great legal tool when used to it’s full potential.
A last Will and Testament allows a person to decide exactly what will happen to their money, property and possessions in the event of their death, including care instructions for any children aged under the age of 18. A Will is formal legal document so it therefore has to be signed and witnessed in order for it to be considered legally valid. The process of confirming the validity of a Will is known as probate.
Powers of Attorney
A lasting power of attorney (LPA) is a legal document that allows you to appoint one or more people (known as ‘attorneys’). It gives them the power to help you make decisions or to make decisions on your behalf when dealing with third parties such as with the local council, banks and in some cases where you live.
Making a gift to your family and friends while you’re alive can be a good way to reduce the value of your estate for Inheritance Tax purposes and benefit your loved ones immediately.
Tax and Trusts
This is a broad topic and there are many avenues one can explore. At RJS we have many legal tools and knowledge to guide you to making the best decisions. We have some brilliant associates in the form of accountants, financial advisors and even pension solutions who can also bring advise to the table.
For more information about our Elderly Client Services, get in touch with our experienced team on 01782 646 320, or email us at email@example.com