If you need to write a will, reduce your inheritance tax liability or need help with dealing with completing probate.

Griffin Benedict Limited offers Will writing, estate planning and probate services and can help you with all of these matters.

Will writing

A properly drawn up will is the only way you can ensure exactly what happens to your property, money and possessions after your death. It gives you control over what happens to your estate and can also save your loved ones a great deal of expense and dispute. It may also achieve significant savings in Inheritance Tax.

Griffin Benedict will help you draw up a will, with modest fees, regardless of the value of the estate.

A – Beneficiaries

Think about who among your loved ones you would like to inherit real and/or personal property from you.

Listing your beneficiaries may seem like an unnecessary step in the process, but remember that recent births, deaths, marriages, divorces, etc., may influence who you wish to include in your will. At this point, you don’t need to specify who you want to receive what; just focus on the people involved so you know you won’t be forgetting anyone.

Also know that disinheriting your spouse and/or children may not be possible in some jurisdictions.[/li_item][li_item icon=””]B – Assets

Make a list of your assets you will want to leave to loved ones. This can include houses, vehicles, and family businesses, and then work your way down to smaller items like jewelry or family heirlooms.

Some assets cannot be bequeathed within a will (or you may wish to handle them in other ways such as living trusts), but at this point, you should get all the assets down on paper so you know what you’re dealing with.

When listing your assets, remember that you can only distribute property that is owned solely in your name. That is, if you are married and your spouse holds joint title on an asset, you cannot leave that property to someone else in your will.
C – Debts

Make a list of all of your debts:

Mortgage
Car loans/leases
Credit cards
Student loans
Personal loans
Outstanding taxes

Although you won’t be leaving your debts to anyone in your will, it is helpful to get an idea of your estate’s overall financial status so you can plan accordingly regarding funeral expenses, probate costs, and taxes.

Some debts may become the responsibility of the estate, so you may want to consider taking out a life insurance policy, for instance, to help cover certain expenses after your death.

D – Executor

The person who will handle your estate and the provisions in your will is called the executor, and you choose this person within the will itself.

You should make sure the executor will be up to the task of handling your estate and also that the person is open to accepting the responsibility.

It is worth considering two executors depending on the complexity and size of the estate.

Having an alternate executor in mind is a good idea in case your first choice can’t serve.[/li_item][li_item icon=””]E – Guardians

If you have minor children, your will is the perfect place to name a guardian for them should their other parent be unable to care for them for whatever reason (including if both parents die at the same time).

You can also consider how you want to provide for the care of your children; you may want to leave someone else in charge of property they will inherit until the children reach the age of majority. Contact Griffin Benedict Ltd Now

Power of attorney

Making sure your health and money will be looked after by those you can trust is essential for lasting peace of mind. Power of attorney gives you control over what happens to you should you be unable to make decisions due to accident or illness. Power of attorney is not an easy decision to make while you are fit and healthy, but is an excellent way to plan for your future.

Griffin Benedict provides impartial advice and the documentation to make sure you can carefully plan for such an eventually.

Making an LPA enables you to plan how your health, wellbeing and nancial affairs will be looked after at a time when you can no longer make decisions yourself. It gives you the ability to choose:

the decisions you want to be made on your behalf if you lose capacity to make them yourself;
the people you want to make these decisions; and
how you want those people to make these decisions.

If you do not have an LPA in place and you become unable
to deal with your affairs yourself, then a relative or other appropriate representative would have to make an application to the Court of Protection to be appointed to make decisions on your behalf as your “Deputy”. This can be a costly and time-consuming process and means that you have no control over who is appointed to be your Deputy or what decisions h e or she can make.