Let's dig a little deeper
Wills with Trusts
The way a Trust is crafted within a Will, coupled with the guidance provided to trustees through a 'Letter of Wishes', holds immense significance in determining how your inheritance will ultimately be distributed.
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Consider this scenario:
Without a carefully constructed Trust, there might be ambiguity regarding whether your husband's future partner would have a claim on the inheritance, potentially superseding the interests of your child. Similarly, in the event of your child's divorce, an improperly structured Trust might compel them to share their inheritance with their ex-spouse. However, when Trusts are meticulously drafted and the right trustees are selected, these potential scenarios can be safeguarded against. By crafting Trusts that are tailored to your specific intentions and circumstances, you can establish clear instructions that prevent unintended beneficiaries from accessing your assets. Furthermore, a well-prepared 'Letter of Wishes' can provide invaluable guidance to the trustees, offering insights into your wishes, values, and preferences. This additional layer of communication ensures that the trustees have a comprehensive understanding of your desires, helping them execute their responsibilities with precision.
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At Bloom Wills, we specialise in the art of Trust creation, recognising the pivotal role it plays in securing your legacy. Our team of experts is dedicated to crafting Trusts that align perfectly with your intentions, providing you with the peace of mind that your wishes will be honoured and your assets protected. With our meticulous approach, we strive to shield your legacy from unforeseen circumstances, ensuring that your loved ones receive the inheritance you intended for them.
Lasting Power of Attorney
There are two main types of Lasting Power of Attorney (LPAs) in the UK:
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Property and Financial Affairs LPA: This one is all about your money and assets. You can give someone (usually a family member or close friend) the authority to manage your bank accounts, pay bills, buy or sell property, and invest your money.
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2. Health and Welfare LPA: This is about your personal well-being. You can appoint someone to make decisions about your healthcare, where you live, and even things like what you eat or wear if you can't make those choices yourself.
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The key thing about LPAs is that they're designed to kick in when you're not mentally capable of making decisions. You have to set them up while you're still in your right mind, so it's like future-proofing your life. It's like saying, "If I ever can't think straight or express my wishes, I want this person to take the wheel."
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Choosing the right person as your attorney is important. It should be someone who knows you well, understands your values, and will act in your best interests. You're handing them the responsibility to make life-altering choices for you, so it's not a decision to take lightly.
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In a nutshell, a Lasting Power of Attorney is like a legal safety net you create while you're still in control of your faculties. It empowers someone you trust to handle your money, health, and personal matters if you can't do it yourself in the future. It's all about looking out for your best interests when you might not be able to do so on your own.
Bloom Nurture
Rest easy knowing that every Will crafted through our service is stored in a state-of-the-art, highly secure facility. To provide an extra layer of protection, all stored Wills are comprehensively insured, offering you peace of mind that your important documents are safeguarded against unforeseen events.
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In addition to our robust security measures, we take an extra step to ensure that your Will can always be located when needed. Each Will created with Bloom Wills is registered with the National Will Register. This national database serves as an invaluable resource in the event that locating a Will becomes necessary. This added measure helps streamline the process, providing you and your loved ones with the confidence that your will can be promptly located and executed according to your wishes.
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At Bloom Wills, we believe that not only should your will be a reflection of your wishes, but it should also be backed by a level of security and accessibility that you can trust. Our commitment to you extends beyond the initial drafting of your Will, encompassing its safekeeping, insurance, and accessibility through the National Will Register.