Lifetime Planning Solicitors
Life is full of unexpected surprises; the outcome of the future cannot be predicted. However, you can plan for it.
Planning a will is often forgotten about until it’s too late. At Lovell Chohan, we advise our clients to sort their will arrangements sooner rather than later. Without one in place there is no certainty that your wishes will be followed through. Our Wills and probate solicitors are professionals within this sector and understand the difficulties of discussing and planning for these situations.
One of the issues we offer advice on is tax (see the Wills section). This involves: inheritance tax, income tax and capital gains tax. We not only offer advice, we also give assistance towards completing your self-assessment tax return and guiding you through exemptions and any reliefs that you are entitled to. This assistance is given by specialist advisors who will be able to resolve any queries you may have.
Other things we are able to advise you on are:
- Long Term Care Planning: Thinking about what the future holds can be daunting but being prepared can cause less stress later on. Paying for a place in a home now can avoid you having to sell your house later on to keep up with payments. This early planning can secure you a place and give you peace of mind.
- Lasting Power of Attorney: With more recent laws passing, it is helpful to be aware of what could happen if circumstances in life change. The Enduring Powers of Attorney act in 1985 stated that you could personally allocate a person who you would prefer to handle your responsibilities in the occurrence of mental incapacity. This act was soon replaced with a Lasting Power of Attorney by The Mental Capacity Act and came to pass in 2007.
- Living Wills: See our section on Living Wills.
- Guardians: It is best advised to allocate guardians if you have young children. Despite it not being a pleasant thought, in the event of your death a guardian is able to look after your children while they are young. Although most people have “god parents”, they can be chosen at a time where things were different and situations could have changed since. Allocating guardians in your will can allow your children to be looked after by whom you deem appropriate.