Estate Planning is more than a Will. It is about providing a structure to protect your assets and your wishes effectively both for now and into the future.
This structure can be simple or complex, according to your needs. With our experience in Estate Planning we offer our clients a service that makes the process simple and provides peace of mind.
Cariad Legal provides three types of Wills which can be tailored to meet your specific needs.
- A Standard Will - incorporates your wishes for your estate, how your assets are distributed and nomination of executors. A Standard Will is often appropriate for clients who have adult beneficiaries and straightforward estates.
- A Will incorporating a basic testamentary trust - recommended for clients with beneficiaries under the age of 25. It allows clients to provide for children and young adults while ensuring the assets are protected until the beneficiaries reach a more mature age.
- A Will incorporating a complex testamentary trust - occasionally clients may have more complex situations which are best addressed by way of a Will incorporating a complex testamentary trust.
A testamentary trust is a trust deed incorporated into a Will.
A testamentary trust is commonly used to provide for minors so that assets can be released for their care, education and maintenance.
A testamentary trust can also serve a variety of other purposes including tax effectiveness for large estates and asset protection for particular types of beneficiaries such as those with a disability.
Powers of Attorney and Guardianship
These documents give someone else the power to handle your affairs on your behalf.
Enduring Power of Attorney gives someone the right to handle your financial affairs on your behalf. This may include accessing bank accounts, paying bills and dealing with real estate.
Enduring Power of Guardianship gives someone the power to make decisions in relation to your health, medical and lifestyle care.
A Grant of Probate can be applied for when there is a valid, formal Will. There are circumstances where a Grant of Probate may not be possible and an application for Grant of Letters of Administration may be necessary. A clear example of this is where there is no Will.
Cariad Legal can assist you with all aspects of Probate and Letters of Administration.