Nil rate Band Discretionary Trusts: Are they still useful?

Nil Rate Band Discretionary Trusts were popular, and VERY useful, prior to 9 October 2007 when the Transferable Nil Rate Band was introduced.

Before 9 October 2007, the Nil Rate Band could not be transferred between spouses and so if it was not used on first death (and everything passed to the surviving spouse) this Nil Rate Band was lost unless a deceased spouse had a Nil Rate Band Discretionary Trust within their Will.

The Nil Rate Band Discretionary Trust allowed for the spouse that passed first to leave assets up to the available Nil Rate Band to beneficiaries (usually their spouse and children) in a Trust, this would use their Nil Rate Band upon their death and those assets would remain outside the surviving spouse’s Estate (whilst in the Trust) and so no Inheritance Tax would be incurred on those assets upon the death of the second spouse.

If there was no Nil Rate Band Discretionary Trust is place and the deceased spouse simply left all their assets to the surviving spouse then this would accumulate with their existing Estate and could mean that Inheritance Tax would be payable as only one Nil Rate Band would be available to take advantage of upon the death of the surviving spouse.

The advantage of a Nil Rate Band Discretionary Trust, was that guidance could be given to the Trustees, to treat the main beneficiary as the surviving spouse during their lifetime with the other beneficiaries (children or grandchildren) only benefiting following the death of the surviving spouse. This would mean that the surviving spouse would still be provided for, and have access to those assets, during their lifetime although they would not form part of their Estate.

Now that the Nil Rate Band is transferable between spouses, is the Nil Rate Band Discretionary Trust redundant?

Not quite! There are still some advantages to using a Nil Rate Band Discretionary Trust and these are briefly set out below:

For UNMARRIED couples

The Transferable Nil Rate Band is only available to couples that are married or that have entered into a Civil Partnership, and so for those couples that choose not to marry or enter into a Civil Partnership they are unable to take advantage of the Transferable Nil Rate Band. This is where the Nil Rate Band Discretionary Trust can come in very useful.

To make use of an Additional Transferable Nil Rate Band where a previous marriage ended in the death of a spouse

If a previous marriage ends in death then the surviving spouse can use the Nil Rate Band of their deceased spouse, this is not limited to just one spouse and so you could benefit from multiple Nil Rate Bands should you have multiple marriages end in the death of a spouse.

However, these cannot be transferred by you, should you die and leave your estate to a surviving spouse and so all of those Nil Rate Bands (save for your own) will have been lost.

This is where a Nil Rate Band Discretionary Trust can be used to take advantage of the accumulated Nil Rate Bands from the marriages that have ended in the death of a spouse.

An example:

Frank and Sylvia are married. Both Frank and Sylvia are widowed with each of their deceased spouses leaving their entire estate to them.

If Frank and Sylvia both include a Nil Rate Band Discretionary Trust within their Will (to benefit each other and their children) to use both their own Nil Rate Band as well as any Transferable Nil Rate Band that is available to them then, upon Frank’s death assets to the value of his Nil Rate Band, plus that of his first wife’s Nil Rate Band, will pass into the Nil Rate Band Discretionary Trust, with the remainder passing to Sylvia.

Upon Sylvia’s passing, her estate can benefit from her own Nil Rand Band as well as that from her first husband and the combined estate will have benefited from FOUR Nil rate Bands.

To benefit children following the surviving spouse’s needs being looked after

This approach is beneficial where it is not certain what the needs of a surviving spouse will be upon the first death.

Having a Nil Rate Band Discretionary Trust to include the surviving spouse and children allows the needs of the surviving spouse to be taken care of first before deciding how to distribute the income and capital in relation to the remaining trust assets.

Reducing the Inheritance Tax liability on second death

By having a Nil Rate Band Discretionary Trust in place, this can mean that no Inheritance Tax is payable on the first death, as the Nil Rate Band will pass into a Trust and the remainder to the surviving spouse. When the surviving spouse passes there will only be Inheritance Tax payable on the value of their Estate minus their Nil Rate Band. However, the property/assets put into the original Nil Rate Band Discretionary Trust will not accumulate with the surviving spouse’s Estate as these are in Trust and so if the value has increased then this will not impact the Inheritance Tax liability upon second death.

Preventing the loss of the Residential Nil Rate Band through the Taper Threshold

Using a Nil Rate Band Discretionary Trust can direct assets away from the surviving spouse so that their Estate does not exceed the Taper Threshold (currently £2million) for the Residential Nil Rate Band.

Currently, if an Estate exceeds a value of £2million, then the Residential Nil Rate Band is reduced by £1 for every £2 over the £2million.

If an Estate value exceeds £2.7million then there will be no Residential Nil Rate Band available.

Using a Nil Rate Band Discretionary Trust to keep the Estate value below £2.7million (or, ideally, below £2million) can mean that the Residential Nil Rate Band can still be taken advantage of, to its full extent, upon second death.

These matters can be quite complex and we are happy to discuss any of your own circumstances in more detail if you think that this may be useful.

If you would like to have a free chat about your existing Will or making a new Will, please contact us on info@TotalLegacyCare.co.uk or 01727 865 121

Leah Waller

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6th August 20206th August 2020

Second Marriages: Protecting your Children & Inheritance

Second Marriages: Protecting your Children & their Inheritance

Nowadays, second marriages are quite common. We look at a case study of Bob and how second marriages cause issues not only during our lifetime but also upon our death, including Inheritance provisions, large estates attracting taxes and whilst all this is going on…trying to keep everyone happy and doing what seems fair!

So, let’s look at a case study of Bob to put things into perspective…

Married in his early 20’s;
Bob has 3 children who are now all grown up and have their own children;
Unfortunately, Bob’s wife passed away some years ago and after spending some time alone, Bob met a new partner Sally.

Sally is also a widower and has two children of her own, a son and a daughter. Sally’s daughter has two children also but her son never married and lives the life of a ‘Rock and Roll Star’.

Both Bob and Sally own their own homes but want to sell up and move to the coast together to enjoy their retirements.

Their current assets look like this:

House

Mortgage

Buy to Let

Mortgage

Savings

Shares & investments

Total (less mortgages)

Bob

£500,000

£100,000

£0

N/A

£75,000

£25,000

£500,000

Sally

£600,000

£0

£250,000

£40,000

£20,000

£60,000

£890,000

Now, Bob and Sally have agreed that the life and wealth they each built before they met will be passed on to their own children.

They have put an offer on a luxury bungalow on the south coast which has been accepted at £800,000.

There may be a few complications that they need to resolve and plan for carefully, so they can purchase their dream home and make sure that each of their children’s inheritance is protected.

How will they own the home?

Joint Tenants: This means you both own the home jointly, when one of you dies the survivor automatically owns the house outright.

This is not a good option for Bob & Sally as they want to pass their own share on to their children.

Tenants in Common: This allows the owners to hold the property in shares (equally or in different shares), for example 50% each or, you could own it in any percentages you wish 60/40, 70/30 etc.

For Bob and Sally, owning the home as Tenants in Common would be the best option. If they both put in equal amounts of £400,000 to pay for the property, their share is protected and they can gift their share of the house in their Will to their children, or to anyone else that they wish.

What happens if Bob dies first?

If Bob passes first, Bob’s children would receive his share in his Will. They could force Sally to sell up to get their money or she would have to find £400,000 (or half the current market value if the property went up in price since purchasing) to buy Bob’s children out. This is not a situation that either Bob or Sally would like to find themselves in. So what’s the solution…

A simple Trust in their Will

Bob has a Will drafted stating that all of his assets are to pass to his children BUT puts a Trust in his Will stating that he would like Sally to live in the house until she sells up or passes away. If she sells the house Bob’s children will receive their share, or upon her death, the house can be sold and Bob’s share will pass to his children.

Creating a Will with a Trust in this way, allows Sally to live in the property for as long as she wants without the worry of finding money or being pressured by Bob’s children. You can also put in other stipulations of the Trust too, for example stating that the Trust would end should Sally (in this case) remarry.

It would of course make sense for Sally to write a Will and Trust similar to Bob’s so he is protected should she pass away first.

Other considerations…

In addition to sorting out their Wills and Trusts, there are a couple of other things we would recommend considering before Bob and Sally venture off on a new life down by the sea to protect themselves and each other.

Lasting Powers of Attorney (LPA)

If Sally was to lose capacity and need to go into a Care Home, she may want to be closer to her family, children and grandchildren, Bob would not be able to sell the house to release funds to pay for her care – without going through the courts which is a lengthy and costly process.

Both Sally & Bob would need to sign the legal documents for the sale to go through if the house was held as Tenants in Common BUT with an LPA in place, Sally’s Attorney would be able to sign on her behalf.

LPAs also have a number of other benefits around financial and health affairs that may arise for Sally. Take a look at our article explaining our Top 5 reasons for getting an LPA in place for more information

Funeral Plans

It would also be advisable for both Bob and Sally to consider putting a funeral plan in place. A funeral plan is prepaid and secures the cost of the funeral director services at the time the plan is taken out. This means that, rather than either the surviving spouse, or Bob & Sally’s children having to face the financial and emotional burden of paying for and arranging the funeral…this will all be done for them with one simple phone call.

Inheritance Tax

Another consideration is Inheritance Tax. It is always best to speak to an expert to make sure you have taken any possible measures to reduce your inheritance tax liability to protect yourself and your family where possible.

MOST IMPORTANTLY…Don’t panic, there are always options around this and if this concerns you, get in touch we are always happy to give free advice, answer any questions and help to resolve your concerns.

If you would like a FREE chat to discuss your options, get in touch on info@TotalLegacyCare.co.uk or 01727 865 121

Leah Waller

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23rd July 202023rd July 2020

How to increase your Inheritance Tax Allowance to £1million

How to increase your Inheritance Tax Allowance to £1million

We work hard for most of our lives to provide an inheritance for our loved ones and so wanting to increase our Inheritance Tax Allowance (reducing the amount paid in Inheritance Tax) is a considerable concern for many.

Inheritance Tax is payable at 40% upon death where an estate exceeds the Inheritance Tax Allowance, this is legally termed the Nil Rate Band (a personal allowance, that each individual is able to gift, upon death, without attracting any Inheritance Tax – for 2020/21 this is £325,000 per person).

So, how do we increase £325,000 to £1million?

So, as we now know, each person is entitled to pass £325,000 (2020/21) to their beneficiaries without paying any Inheritance Tax AND…

Where you are passing your residential property to a direct descendent (children, grandchildren, great-grandchildren, step-children, adopted children or foster children), you can claim an additional allowance, called the RESIDENTIAL NIL RATE BAND, giving you an extra £175,000 (2020/21) to pass to your beneficiaries (if they are direct descendants), without paying any Inheritance Tax.

Thus increasing your Inheritance Tax Allowance to £500,000.

So, where does the other £500,000 come from?

Your NIL RATE BAND (£325,000) and RESIDENTIAL NIL RATE BAND (£175,000) is transferable between spouses and civil partners.

This means that if your partner passes before you and leaves their entire estate to you, then upon your death you will have the benefit of their Nil Rate Band and, if they had a Residential Property in their Estate, their Residential Nil Rate Band.

Thus, increasing your Inheritance Tax Allowance to £1million.

It is worth bearing in mind that if your estate is worth more than £2million then you lose the right to claim all of the Residential Nil Rate Band; for every £2 over the £2million valuation, you will lose £1 of the Residential Nil Rate Band.

If you would like to have a free chat about your Inheritance Tax liability and planning for the future, please contact us on 01727 865121 or drop us an email Info@TotalLegacyCare.co.uk

Leah Waller

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9th July 20209th July 2020

What to consider when including a Discretionary Trust within your Will

What to consider when including a Discretionary Trust within your Will

You may have decided to include a Discretionary Trust within your Will (or you may be wondering what Discretionary trust is!), so first things first…What is a Discretionary Trust?

A Discretionary Trust is set up giving the Trustees (appointed by you) the discretion and control to make decisions about how (and to who) the income and capital is distributed. The Trustees will have the power to make decisions about whether to pay income, capital or both to the beneficiaries, who to make payments to (from the named beneficiaries or class of beneficiaries named by you) and how often payments are made.

The main issue that we have highlighted when reviewing our clients’ existing Wills and Discretionary Trusts is:

BENEFICIARIES

A Discretionary Trust allows your Trustees the discretion and choice to make payments (distributions) to the potential beneficiaries (or category of beneficiaries) named within the Discretionary Trust.

If you have only named one beneficiary, then this is NOT a Discretionary Trust. This could have tax implications (as well as other implications!) for the beneficiary of the Trust.

So, how do we resolve this?

We would recommend considering allowing the Trustees the ability to add further beneficiaries and naming a category or class of beneficiaries (this could be as simple as; children, grandchildren, nieces and nephews etc.) so that the scope of the beneficiaries is wide and there is no risk of a Bare Trust or Interest in Possession being created, rather than a Discretionary Trust.

Having a wider pool of beneficiaries can also assist if the Trust lasts for a prolonged period after your death and the original beneficiaries that you have named predecease you or die shortly after your death and prior to the full Trust being distributed.

So, why are we telling you?

Discretionary Trusts can be useful but as you can see, there are some common mistakes.

Before you decide on including a Discretionary Trust within your Will, make sure that you have considered the above points and that those drafting errors aren’t present in your Will!

If you have any questions, would like to consider putting a Will in place or a FREE review of your existing Will, please call us on 01727 865121 or drop us an email Info@TotalLegacyCare.co.uk

Leah Waller

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11th June 202011th June 2020

GUARDIANS: How do I appoint Guardians for my children?

GUARDIANS:
How do I appoint Guardians for my children?

A definite pain point for many of our clients is, having GUARDIANS in place for their children should anything happen to them (as parents).

Often, talking to us is their first step in thinking about who they should appoint as Guardians and exactly what that role entails. It is often a discussion and conversation that parents will avoid for fear of ‘tempting fate’ or not knowing who to ask, or even upsetting someone if they DON’T ask them!

This is where we come in! We are happy to have these discussions in a nice relaxed; usually within their home, over a cup of tea, when the kids are tucked up in bed! We go through the role of a Guardian, what their responsibilities are, some of the considerations that the parents may want to have a think on and then the possible options. All leading up to the parents making a decision and documenting that within their Will.

One stumbling point that parents may come across at this stage is…agreeing on the Guardians! Some parents will immediately know who they want to choose and are in agreement, in other circumstances we talk through all of the possibilities, weighing up the pros and cons of each and then help the parents to come to an agreement.

The initial discussion usually takes 45-60 minutes but we are happy to stay for as long as our clients want (especially if the tea is flowing!) and we go away and prepare all the documentation ready to return and get everything signed within a week. This takes care of the worries from 30% of people in the UK that making a Will is time consuming and the 43% that think it is complicated! We are always happy to have telephone discussions or follow up appointments if necessary to ensure that our clients are 100% happy with all of their decisions.

Once the Will is in place and the Guardians have been appointed, the parents are left with peace of mind, knowing that their children will be cared for by the people they trust and have appointed in the way they want them to be, should the need arise.

Often a job that is on so many parents’ to-do list…but never gets ticked off…we can definitely help make it painless!

We are always available for a free consultation, so if you want to check your existing Will, have any questions or put a new Will in place, get in touch.

If you have any questions, would like to consider putting a Will in place or a FREE review of your existing Will, please call us on 01727 865121 or drop us an email Info@TotalLegacyCare.co.uk

Leah Waller

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14th May 202028th May 2020

Can I make a valid Will during COVID-19?

Can I make a valid Will during COVID-19?

This is a question that we are getting asked almost on a daily basis, so…

Can you make a valid Will during COVID-19?

Firstly, what does a ‘valid Will’ mean and secondly, why does that matter?

BUT, if you are short on time, YES! You can still make a valid Will during COVID-19.

There has been a lot of speculation in the media, recently, about whether some of the legal obligations surrounding the making of Wills should be relaxed in the current circumstances, but as of yet this has NOT happened and so, for the facts:

In order for a Will to be valid there are some legalities that must be followed and in place, including:

The person making the Will, sometimes termed as the Testator, must be 18 years of age or over (save for some very rare exceptions);

The Will must have been made voluntarily;

You must be of sound mind (and have capacity) when making your Will;

The Will must be in writing;

The Will must be signed by you, the Testator, in the presence of two witnesses, both of whom are over the age of 18;

Both witnesses to your signature must also sign the Will in your presence;

The Witnesses should not be a beneficiary, or your spouse, as any gifts to them within the Will would then fail.

This may seem like a lot to consider, especially given the current circumstances that we are living in.

However, we are still working and able to take instructions, draft and witness valid Wills during this time.

So, why is it important to have a valid Will in place?

Only if the Will is valid, can it be accepted by the Probate registry and used to follow your wishes and distribute your Estate following your death.

We are always available for a free consultation, so if you want to check your existing Will, have any questions or put a new Will in place, get in touch.

For a free consultation, please call us on 01727 865121 or drop us an email Info@TotalLegacyCare.co.uk

Leah Waller

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16th April 202023rd April 2020

We will review your Will…for FREE!

We will review your Will...for FREE!

So, you have a Will in place…GREAT!

But…it was made 5, 10, 15 (plus!) years ago?

How much has changed since you made your Will…and we are not just talking about the situation that we now find ourselves in with COVID-19. We are talking changes in family dynamics, change in assets, moving house, having children, grandchildren, maybe even great-grandchildren!

Does your Will still do what you want it to and most importantly, does it ensure that everything that you have worked so hard for, goes to where YOU want it to?

We offer a FREE Will Review to check just that, and talk through anything that may be missing.

Just to be clear…this Will Review is COMPLETELY FREE and there is absolutely no obligation or follow up from us (unless you want it, of course!).

We always recommend reviewing your Will every 2-5 years, as so much can change in that time. If your Will is still doing what you want it to then, great, put it back safely to where it is stored and review again in a couple of years.

So, what are some of the key areas that you should be thinking about when deciding upon whether to review your Will?

EXECUTORS

Are the people that you have appointed to

administer your Estate (your Executors) still the people that you want to be in charge?

This may change over time, as people get older and relationships change. When you first made your Will, you may have appointed parents, who may now be too old to take on such a responsibility, perhaps your siblings or even adult children may be better placed to take on this role?

GUARDIANS

Guardians are put in place within your Will as

the designated person, or people, to legally take care of your children if you are no longer around to be able to do so. When reviewing your Will it is worth considering who you have in as your Guardians, much like Executors, you may have appointed parents, who may now be too old to take on the role, perhaps your siblings or close friends may be better placed?

BENEFICIARIES

Your Will is your chance to ensure that

everything you have worked for, goes to those YOU want it to and that may well change as you grow, circumstances change and new additions to the family come along. Reviewing your Will can ensure that those beneficiaries that you want to inherit, WILL.

INHERITANCE TAX PLANNING

Are there provisions and planning that can be

done now, or in the near future, to reduce your Inheritance Tax liability later on?

TRUSTS

Trusts allow you to protect your assets and

ensure they are looked after for the beneficiary or beneficiaries.

DISABLED TRUSTS

Are you leaving money to a Vulnerable Person (a minor or an adult)? This could affect their means-tested benefits should they receive a substantial inheritance and so a Disabled Person’s Trust may be worthwhile considering to mitigate this.

CARE HOME FEES

Is there planing that can be done now to protect your Home from Care Home Fees should care for you or your spouse/partner be necessary in the future?

There are so many decisions to think about and choices to make, but don’t let that put you off!

We can help you through any queries that you have and make things as simple and easy as possible.

ENSURE YOUR WILL DOES WHAT YOU WANT IT TO

If you have any questions, or would like a FREE review of your existing Will, please call us on 01727 865121 or drop us an email Info@TotalLegacyCare.co.uk

Leah Waller

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19th March 202023rd April 2020

What can we learn from these celebrities’ deaths?

What can we learn from these celebrities' deaths?

We are always saying how important it is to have a Will (well, we would, wouldn’t we!).

However, celebrity deaths often highlight the importance of having a Will through the complications, legal battles and high-profile disputes that occur following their death.

So, what can we learn from them?

Keep Control of WHO you want to benefit from everything you have worked hard for

When Prince died in April 2016, he left behind an Estate that was worth an estimated £230million.

With no Will in place it was decided by a Probate Judge that his Estate would be divided between his sister and five half-siblings (despite numerous claims from alleged ex-wives, children, siblings and other relatives).

During his lifetime, Prince had many legal disputes with his half-siblings and thus it is unlikely he would have wanted them to benefit from his Estate, although we will never know.

Leaving a Will, ensures that you can leave what you want to WHO you want to benefit!

Be clear and specific

Although Audrey Hepburn died in 1993, due to her wishes being unclear, the legal battle in relation to her Estate was not resolved until 2015, some 22 years later!

Audrey Hepburn had left a Will but had stated that her ‘memorabilia’ would be split between her two sons although no instructions were given as to which items were to go to which son. The sons could not agree on the division of the memorabilia and thus a long and expensive legal battle ensued.

Giving detailed instructions within your Will (or even an attached Expression of Wishes) can save time, money and family feuds when you are no longer around.

It is never too early to put your Will in place (especially when you have children!)

Paul Walker died at just age 40 BUT he did leave a Will that he had made three years after the birth of his daughter, when he was just 28 (many of you may think this is young to make a Will!).

Paul Walker had left a brief Will but it was very clear that his Estate should pass to his daughter, in trust.

Paul Walker had also appointed his mother as legal Guardian of his daughter.

Putting Guardians in place is so important to ensure your children are brought up by the people YOU trust, should anything happen to you.

You can plan for more than just your finances, property and personal possessions

Muhammed Ali left behind an Estate worth approximately £61million and not only did he have the forethought to make a Will stating his wishes and who he wanted to benefit from his Estate but also how he wanted his funeral events and public memorial to be.

The extravagant events were carried out in accordance with his wishes, including a memorial service over several days, a festival and public memorial with over 15,000 of his fans.

Leaving your wishes regarding your funeral in your Will can ensure that there are no questions or disputes between loved ones as to what you want and relieves some of the emotional burden that could otherwise be felt.

If you have any questions or would like to consider planning for your future, by putting a Will in place, please call us on 01727 865121 or drop us an email Info@TotalLegacyCare.co.uk

Leah Waller

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6th February 202023rd April 2020

When should I get a Will?

When should I get a Will?

We often get asked…

“Do I really need a Will, won’t everything just go to my children/husband/wife?”

Well, sadly it isn’t as simple as that (not many things are!).

You may have seen our flowchart of what happens if you die without a Will (also known as intestate) but here it is again:

So, as you can see, it is not as straightforward as you may have hoped.

It is not something we can predict (that is, when our time is up) however, it is something that we can plan for!

So, some of the stages in your life that you may want to consider putting a Will in place (if you haven’t already!) or reviewing your Will are:

Buying a Property

Whether you are buying a property to live in yourself, with someone else, or to rent out and use as an income, it is important to consider how that house is owned (solely, as Joint Tenants or as Tenants in Common) as this will have a bearing on what happens to the property upon your death.

If you are able to gift the property on your death (or part of the property) then your Will will determine exactly what happens to that property and who inherits.

If you are in doubt about how a current property of yours is held, or what consequences that has, please do get in touch and we can help.

Getting Married

When you get married, if you have no children and no Will in place, then everything will pass to your spouse upon your death.

However, when you have children, the first £250,000 (including the value of any property owned solely by you or as a Tenant in Common) will pass to your spouse along with all your possessions and the remainder will be split with your spouse receiving an interest in half and the remaining half being split equally between your children.

This may not be what you would want to happen and so making a Will is important.

Equally, where you marry for a second (or subsequent) time, you may want to protect some of you previous earnings and assets for children from a previous marriage or to dispose of in another way, rather than it all passing to your new spouse and so this is where a Will is extremely important.

A Will also becomes void on marriage (unless the Will states the intended marriage), this is something you need to consider and something that is not commonly known.

Becoming a Parent

We have discussed above how your assets are divided if you are married, have children but do not have a Will.

If you have children and are not married, then your assets are split equally between your children in the first instance.

There is no such thing as a ‘common-law husband or wife’ in relation to inheritance and so even if you have been ‘living as married’ your partner will not be entitled to any inheritance (unless they proceed with a lengthy legal claim under the Inheritance (Provision for Family and Dependants) Act 1975).

A Will allows you to put Trusts in place for your children so that you can set the age at which they inherit (rather than them inheriting at 18) and also allows you to provide for any vulnerable children that you may have, such as those with disabilities to ensure that their money is looked after and also doesn’t have any impact on their benefits in the future.

Another important aspect of a Will when you are a parent, is appointing Guardians!

Appointing Guardians in your Will gives you the opportunity to appoint the people that you trust to look after your children, and bring them up, should you no longer be around to do so. This saves any lengthy court cases and prevents the children from having to go into care or into the control of the Local Authorities whilst Legal Guardians are found for them.

These are just a few milestones that may trigger the need for a Will, we would encourage everyone over the age of 18 to get a Will (of course we would!) but apart from anything else it just means that you have peace of mind knowing that everything will be as YOU want it, and it removes that burden from your loved ones at what will already be a terribly difficult time for them.

How difficult is it to make a Will?

The process is quite simple, an initial meeting where we discuss your needs and take instructions should take no longer than an hour. Your Will writer can then draft the documents and arrange another meeting to sign everything off and make it legally valid. The process can be completed in just a few days depending on how complex your Will may be.

If you have any questions, would like to consider putting a Will in place or a FREE review of your existing Will, please call us on 01727 865121 or drop us an email Info@TotalLegacyCare.co.uk

Leah Waller

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23rd January 202023rd April 2020

There are two certainties in life…

There are two certainties in life…

Benjamin Franklin is famous for stating:

...in this world nothing can be said to be certain, except death and taxes.

Benjamin Franklin

Now, we are only too aware that many people don’t want to talk about death, let alone their own or that of a loved one BUT this leaves a heavy burden on your surviving loved ones upon your death, not only emotionally but possibly even financially.

When getting sorted for when the time comes, one thing that we cannot recommend highly enough is a FUNERAL PLAN.

Putting a Funeral Plan in place gives you the peace of mind that your Funeral is organised, how you want and (most importantly, for many!) the Funeral Director services are paid for in advance.

This not only has the benefit of putting your mind at ease but also takes the financial burden off of your loved one at what is already a difficult time.

We set out below a table of the average cost of a Funeral throughout the years, as well as the predicted costs for 2020 and 2023, and you will see just how much those costs are increasing. It doesn’t take a genius to see that these increases are far above those of inflation!

Putting a Funeral Plan in place guarantees that all of the Funeral Directors service costs are covered and takes away the stress of putting the arrangements in place as this can all be done with a call to activate the plan.

If you would like more information or to discuss putting a funeral plan in place, call us on 01727 865 121 or email us at info@TotalLegacyCare.co.uk for a free, relaxed and considerate discussion on how we can help

Leah Waller

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