At our recent meeting at Lanchester Garden Centre, Jan from Jan Cook Wills and Trusts Ltd spoke to members about the importance of getting the right planning in place and that it was actually one of the kindest things we could do for our families.
She spoke about the difference between a standard will and a will with a trust within it and how this might benefit families. It was the difference between making predictions now on what you think the situation might be for each of your beneficiaries when you ultimately die, or not having to worry about getting those predictions wrong by transferring all assets into a trust on your death and beneficiaries receiving their inheritance through the protection of the trust.
Jan also explained the different ways we could protect our properties, usually our most valuable asset, by altering the way we own our properties from being joint tenants to tenants in common. Or, if more robust planning is required, then there is also the option of a Property Protection Trust.
Finally, Jan raised the importance of Lasting Powers of Attorney – for everyone, not just the older generation moving into the initial stages of dementia. With Christmas coming, and families getting together with relatives they may not have seen for a while, it was the ideal time to take note of any changes in our loved ones’ physical and mental health and maybe start to have those difficult conversations.
IT’S NEVER TOO EARLY TO START PUTTING PLANS IN PLACE, BUT ALL TOO OFTEN IT CAN BE LEFT TOO LATE!
If you'd like to get in touch with Jan all contact details can be found on her website https://www.jancookwillsandtrusts.co.uk.