What is more important: a Will or Lasting Powers of Attorney?
Posted on 13th December 2023
Martin Lewis of Money Saving Expert has recently highlighted a very important issue about the importance of Lasting Powers of Attorney, and our Lasting Power of Attorney Solicitors in Lytham whole-heartily agree that the documents are incredibly important. However, Martin Lewis also suggested that Lasting Powers of Attorney are more important than having a valid Will. Whilst we agree that Lasting Powers of Attorney are important, caution should be exercised before choosing to make Lasting Powers of Attorney over a Will.
Determining whether a Will or a Lasting Power of Attorney is more important depends on a person’s individual circumstances and needs. Both serve different but vital purposes in managing your affairs, and you should seek advice from expert solicitors in Lytham before reaching a decision about which you should make.
Contact our Solicitors in Lytham to discuss Wills and Lasting Powers of Attorney
Wills Solicitors in Lytham
A Will is a useful legal document, which comes into effect after your death. It sets out how you want your assets distributed, you can appoint guardians for minor children, and may include other specific instructions or wishes about your estate. You also appoint the people who you want to manage your estate. Without a Will, the Rules of Intestacy, decided by the Government, decides how your assets are distributed, which might not align with your wishes.
The Rules of Intestacy only make provision for blood relatives and, as our Wills Solicitors in Lytham are all too aware of, this is often not what people would want to happen. With blended families and those that many of us call family even though there is no blood relation, it’s important to make sure you have a Will to provide for your loved ones. What people often do not realise, too, is that if the potential beneficiaries of your estate predecease you, the Rules dictate that your estate passes to the crown, meaning no one receives the assets you have worked hard your entire life to build.
Call us
01253 202 452
Email us
Visit us
Find your local office, here
Our team are available from 9am to 5pm, Monday to Friday, or out-of-hours by appointment.
Request a callback
Lasting Power of Attorney Solicitors in Lytham
A Lasting Power of Attorney is effective during your lifetime. It allows you to appoint someone (an attorney) to make decisions on your behalf if you're unable to do so yourself, due to illness, injury, or incapacity. There are typically two types: one for financial decisions and another for health and care decisions. A Lasting Power of Attorney ensures that someone you trust can manage your affairs if you are not able to manage them yourself. Without these documents in place, no one, even your spouse, civil partner, or children, are legally recognised as having the authority to make decisions and manage your affairs.
Sadly, our Lasting Power of Attorney solicitors in Lytham find that people are often not aware of these documents until it is too late. Usually, someone is placed into care or diagnosed with an illness and they are advised to make Lasting Powers of Attorney, however, it can be too late. If a person does not have the capacity to make Lasting Powers of Attorney themselves, their loved ones would need to apply to the Court of Protection to be appointed as deputies. This process can take 12 to 18 months, and costs almost triple making Lasting Powers of Attorney, based on our Lasting Power of Attorney Solicitors in Lytham’s costs, which we have set out below.
Lasting Power of Attorney fixed-fees
30 minute appointment to discuss your requirements for your LPA and to ascertain capacity
Preparation of the LPA
Attendance upon you to go through and complete your LPA, including giving any advice required
Sending the document to your Attorney(s) for signature
Sending the document to the Office of the Public Guardian for registration
Arranging for collection of the original LPA following registration
One LPA £300.00 + VAT plus Registration fee - £82.00* Both LPAs £450.00 + VAT plus Registration fees - £164.00* Four LPAs £750.00 + VAT plus Registration fees - £328.00* *Unless you qualify for a fee remission or exemption
Wills vs LPAs
Long-term Planning: A Will is essential for long-term planning, ensuring your assets are distributed according to your wishes after your death.
Immediate Concerns: Lasting Powers of Attorney are crucial for immediate concerns, especially if there's a risk of losing the ability to make decisions yourself.
Both a Will and Lasting Powers of Attorney are important for comprehensive estate planning, addressing different aspects of your affairs at different times. It's often recommended to have both in place to ensure all aspects of your estate and welfare are managed according to your wishes. Our Wills and Lasting Powers of Attorney Solicitors in Lytham can assist with the preparation of Wills and Lasting Powers of Attorney all for excellent fixed-fees, which we have set out below.
Will writing fixed-fees
Single Wills
30 minute appointment to discuss your requirements for your Will, and your wishes.
Preparation of your draft Will, and making reasonable amendments (if required)
Arranging signature of your final Will
Storage of your final Will
Registration of your Will with Certainty, the National Will Register (if required)
Does not include any additional work required, such as full advice about inheritance tax or the inclusion of trust provisions in your Will.
£175.00 plus VAT for simple single Wills. If you include trust provisions, the fees can be higher. Please contact us for your bespoke quote.
Mirror Wills
30 minute appointment to discuss your requirements for your Wills, and your wishes
Preparation of your draft Wills, and making any amendments (as required)
Completion of your final Wills
Storage of your final Wills
Does not include any additional work required, such as full advice about inheritance tax or the inclusion of trust provisions in your Wills.
£325.00 plus VAT for simple mirror Wills. If you include trust provisions, the fees can be higher. Please contact us for your bespoke quote.
Why choose MG Legal's Solicitors in Lytham?
Transparent fees.
We are the experts.
Multiple Office Locations.
Give us a call any time.
We pride ourselves on our 5-star service, and it’s not just our opinion- our clients agree. Find their reviews on Google, here, or read more, below.
Offering out-of-hours appointments and home visits, our solicitors in Lytham really are here to help you get your affairs in order today.
Contact Us Today:
Or give us a call on 01253 202 452.
Clear, fixed-fees
Fully-Qualified Solicitors
Tailored Service
Multiple Office Locations
Decades of Experience
Home Visits
Share this post: