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Why Make a Will and Lasting Powers of Attorney ?
Tony continues with his series on inheritance and safeguarding your estate for your family with this episode on why wills and power of attorney agreements can be vital.
KEY TAKEAWAYS
- If you don't create a will in readiness for your passing your estate could be inherited by someone you had not envisioned taking over your wealth and assets.
- The Health and Welfare Lasting Power of Attorney allows you to appoint an attorney to make decisions about matters such as your medical care, where you live, your daily routine such as what you eat and what you wear, whom you have contact with and whether you have life sustaining treatment only if you have given express permission.
- The Property and Financial Affairs Lasting Power of Attorney gives your attorney the power to do things such as buy and sell your property, pay your bills, collect your pension or benefits, and manage your bank accounts.
- Only 13% of adults have written a living will which is used to provide advanced decisions on refusing medical treatments if you become terminally ill or lose the ability to make decisions for yourself.
BEST MOMENTS
‘Worryingly 3 in 5 UK adults have not written a will and that's research carried out by Canada Life.'
‘What we need to remember is that a will can provide peace of mind that not only will the correct beneficiaries benefit from an estate distribution, but also that it is done as efficiently as possible at such a difficult time.'
‘A will can help reduce the amount of Inheritance Tax that might be payable on the value of a property and monies that you leave behind.'
VALUABLE RESOURCES
Wills, Lasting Powers of Attorney, Trust and Estate Planning Specialists - Kinherit
Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth
Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth
ABOUT THE HOST
Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.
“Live For Today, Invest For Tomorrow”
CONTACT
Tony's official website: https://ttwealth.co.uk/
Facebook: https://www.facebook.com/TonyThomas.IFA/
LinkedIn: https://www.linkedin.com/in/tonythomas2/
This show was brought to you by Progressive Media
Hosted on Acast. See acast.com/privacy for more information.
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By Tony Thomas
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Tony continues with his series on inheritance and safeguarding your estate for your family with this episode on why wills and power of attorney agreements can be vital.
KEY TAKEAWAYS
- If you don't create a will in readiness for your passing your estate could be inherited by someone you had not envisioned taking over your wealth and assets.
- The Health and Welfare Lasting Power of Attorney allows you to appoint an attorney to make decisions about matters such as your medical care, where you live, your daily routine such as what you eat and what you wear, whom you have contact with and whether you have life sustaining treatment only if you have given express permission.
- The Property and Financial Affairs Lasting Power of Attorney gives your attorney the power to do things such as buy and sell your property, pay your bills, collect your pension or benefits, and manage your bank accounts.
- Only 13% of adults have written a living will which is used to provide advanced decisions on refusing medical treatments if you become terminally ill or lose the ability to make decisions for yourself.
BEST MOMENTS
‘Worryingly 3 in 5 UK adults have not written a will and that's research carried out by Canada Life.'
‘What we need to remember is that a will can provide peace of mind that not only will the correct beneficiaries benefit from an estate distribution, but also that it is done as efficiently as possible at such a difficult time.'
‘A will can help reduce the amount of Inheritance Tax that might be payable on the value of a property and monies that you leave behind.'
VALUABLE RESOURCES
Wills, Lasting Powers of Attorney, Trust and Estate Planning Specialists - Kinherit
Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth
Sign Up Now For Exclusive Tony Talks Wealth Content at https://www.patreon.com/TTWealth
ABOUT THE HOST
Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.
“Live For Today, Invest For Tomorrow”
CONTACT
Tony's official website: https://ttwealth.co.uk/
Facebook: https://www.facebook.com/TonyThomas.IFA/
LinkedIn: https://www.linkedin.com/in/tonythomas2/
This show was brought to you by Progressive Media
Hosted on Acast. See acast.com/privacy for more information.