It is important for you to make a will whether or not you consider you have many possessions or much money. It is important to make a will because:

• If you die a Will ensures that your wishes are carried out regarding your estate and responsibilities.
• If you die without a Will, there are legal rules which govern the way your assets are distributed and who will administer of your estate.
• If you die and have children, you will need to make a will so that arrangements for the children can be made.
• If you die and have made a Will, it may be possible to reduce the amount of tax payable on any inheritance, if advice is taken in advance

• Personal Information – Details such as your full name, date of birth, current address, relationship status and names and dates of birth of any children you have.
• Details of Your Estate – Items of value you may own such as property, bank accounts, stocks and shares, vehicles, foreign assets, jewellery and you should also consider your mortgage/loan debts and liabilities.
• Your Beneficiaries – Who do you want to receive your Estate when you die?
• Your Executors – The people who will wind up your affairs after you die. It is an important job and carries a lot of responsibility, so you will need to choose someone who is capable of carrying out the role.
• Legal Guardians for Children – If you have children who are under the age of 18, who will become their Legal Guardian, should you and their other parent both die.
• Your Trustees – You’ll need to decide whether you want to put certain assets like money or property into Trust, as a way to help avoid inheritance tax on life insurance pay-outs.
• Other Wishes – You’ll then have the opportunity to record any other wishes that you have.

You are entitled to leave your Estate to whomever you choose, but The Inheritance (Provision for Family and Dependents) Act 1975 could restrict these wishes.

The Act allows certain specified groups of people to contest your Will if it is deemed that it has not made reasonable financial provision for them within it.

These groups of people are:-

• Your spouse or civil partner.
• Your former spouse, who has not remarried or civil partner who has not married or entered into a new civil partnership.
• Anyone, who immediately before your death or two years prior to the date of your death, was living in the same household as your spouse or civil partner.
• Any son’s or daughter’s of yours.
• Any person who you have treated as a child of the family.
• Anyone else for whom you have been making a substantial contribution for their maintenance up to the date of your death.

A Lasting Power of Attorney (LPA)  is a form of legal documentation that allows you to appoint  someone to take care of you and your finances, were you lose mental capacity and become unable to do so yourself.

There are two different types of LPAs you can make. The type of LPA you take out will determine what your attorney can make decisions about:

Property & Financial Affairs LPA (PFA):- allows your attorney to look after and manage any property you might have and your finances including bank accounts, mortgages and investments.

Health and Welfare LPA (HW):- allows your attorney to make decisions relating to your physical and mental health and welling such as where you live and what care you receive.

An LPA can only be used after it has been registered at the Office of the Public Guardian (OPG).