Full
Article:
This section deals with:
- Last Will and Testament
- Enduring Power of Attorney
- General Power of Attorney
- Living Will
Landlords and property owners more
than most should plan ahead as to how their assets are
to be taken care of in case of serious illness or even
death.
Without a Will, (Last Will and
Testament) you have no choice over whom you would like to
receive your property, money and personal items. This
decision will be left to the Government, who will regulate
the administration and distribution of your estate according to
their own guidelines.
Powers of Attorney are documents
which allow you to nominate another person or persons to look
after your affairs for you. Often, General Powers of Attorney
are created for shorter periods, such as if you are out of the
country for a while.
Enduring Powers of Attorney
are ordinarily created for much longer periods, when you are
unable to look after your own affairs.
Living Wills are documents which
allow you to make your wishes known regarding any future
medical treatment you would wish to be administered, should
you suffer from a serious illness, accident or injury.
Through our long-established partners
Legalhelpers you can complete your details on-line and
without further delay, simply, quickly and painlessly.
Legalhelpers will supply Wills for individuals or couples
quickly and efficiently.
Legalhelpers will then carefully draft your Will and supply
you with two attractive ribbon bound copies by return post.
You do exactly the same for living Wills
and Powers of Attorney
Glossary:
Assets: Property or money which belongs to you, includes
everything from your house or share of the house, financial and
real estate investments you may own, to the teaspoons in your kitchen drawer and everything in between.
Beneficiary: A beneficiary is a person or an organisation
who will benefit from your Will, by being left either a specific
gift or an amount of money in your Will. A beneficiary may also
act as an EXECUTOR, but SHOULD NOT BE A WITNESS to your Will.
Estate: Your total assets (everything you own and all
your money) when you die. Usually, people make certain gifts
from their assets in the first section of their Will, and then
sign the remainder or residue of the estate over to whoever they
choose.
Executor: A person or persons of your choice who will be
responsible for carrying out the wishes contained in your Last
Will and Testament. An Executor can be a beneficiary. It is
important to let your Executors know that you have made a Will
and where they can find it.
Guardian: A person appointed by you to look after your
children or dependents, should both parents die whilst they are
under 18.
Last Will and Testament: The document by which you make
your final wishes known, as to what you would like to happen to
your assets and estate.
Legacies: Used in the same manner as the word gifts,
often the two are put together, such as in the Last Will and
Testament section entitled "Legacies and Gifts".
Revoking your will: Revoking your Will simply means that
you are cancelling it. You can do this in many ways. You may
simply want to destroy the Will, in which case it will become
revoked. Alternatively, you may wish to update or make a new
Will in which case the old one likewise becomes revoked.
Furthermore, if you marry, this will revoke a previous Will,
unless you made it clear in that Will that you did not want
marriage to alter it.
Spouse: The person to whom you are legally married.
Trust: A legal arrangement, whereby one person will hold
either money or a property in trust for another person. Often
used when you wish to leave money or a gift to a person under
18, and wish a parent or guardian to look after the money until
they reach this or any other age.
Witness: You are required by law, that two people over 18
years of age and of sound mind should witness you sign your will
for it to be legally binding. IMPORTANTLY, YOUR BENEFICIARIES
SHOULD NOT WITNESS YOUR WILL AS IT MAY DEPRIVE THEM OF ANY GIFTS
OR LEGACIES YOU LEAVE THEM.
Please note, any documents that you create can be revoked or
updated by you at any time. This is with exception of the
Enduring Power of Attorney, should it have been registered with
the Court of Protection, which posess a slightly more difficult
situation.
You should review your Will regularly, and especially if
something alters in your financial or personal circumstances.
(Source:
Legalhelpers)
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