Estate Planning
your estate plan
Estate planning is about you deciding what you would like to happen to your estate on your death and how to provide for those you’ll leave behind. An estate plan goes much further than making a Will (although that’s the first step!) and while talking about death isn’t pleasant, having a plan can make it much easier for your loved ones to deal with your estate, taking comfort in following your wishes.
Having a comprehensive estate plan can help to protect your estate for your beneficiaries and reduce the amount of inheritance tax they are liable to pay, meaning more wealth stays where you’d like it to. Without a plan, HMRC could be your main beneficiary!
wills & Power of attorney
Making a Will - and keeping it updated - really is just the first step of estate planning. It is also a good idea to think about what making a Power of Attorney might look like for you. There may come a time when you’re not able to make decisions for yourself so think hard about what your wishes might be and who you trust to act on your behalf.
inheritance tax
Inheritance tax is a reality for more people than ever before but there are strategies available to ensure your loved ones aren’t faced with a significant bill. As Labour politician Roy Jenkins famously said in 1986, “Inheritance Tax, is broadly speaking a voluntary levy paid by those who distrust their Heirs more than they dislike the Inland Revenue.”
Trusts
Putting money and even property in to Trusts can provide an option and should be considered as part of any estate plan where there are inheritance tax concerns. With differing levels of access and benefits, there is a trust out there for everyone.
probate and estate administration
These are all things to consider before your death. Unfortunately, once the time has come, the administration of your estate begins with applying for probate.
The more organised your financial affairs are, the easier this will be for the executors you carefully chose in your Will.
peace of mind
Having these plans in place is really all about looking out for those you leave behind, ensuring everything you have worked hard for ends up where you would like it to.
We can help you with all of this, from beginning to end. We pride ourselves on being a steadfast partner, not just for you but for your loved ones too.
Get in touch to see how we can help you and those you care about through these difficult conversations and decisions.
example pricing
For Basic Mirror Wills (i.e., Wills that are for two individuals that contain nearly identical provisions, most commonly used by married couples), this would cost £325.*
For both Property & Financial Affairs AND Health & Welfare Lasting Powers of Attorney for two people, this would cost £1,575, plus a registration charge that is paid directly to the Office of Public Guardian (OPG) of £82 per document.
For both types of LPAs and Wills for two people, the total cost would be £1,690 plus the OPG registration charge.
Please note these are just for illustrative purposes, and we will refer you to a full price list within your initial meeting.
*Additional costs would apply if Will Trusts needed to be included.
Estate planning and the provision of Wills are not regulated by the Financial Conduct Authority.
On behalf of APS Legal & Associates Ltd, Head office: Worksop Turbine Innovation Centre, Shireoaks Triangle Business Park, Coach Close, Worksop, Nottinghamshire, S81 8AP
APS Legal & Associates is a member of the Institute of Professional Willwriters
APS Legal & Associates complies with the Trading Standards Institute Approved IPW Code of Practice