Wills & Trusts
Why Estate Planning Matters
Having the right protection in place is only part of the picture. Without a valid Will, the right Powers of Attorney and, where suitable, a trust arrangement, your assets may not pass to the people you intend, and your family could face delays, extra cost and unnecessary stress.
At Elevare Financial, we encourage every client to think about estate planning alongside their protection, with support and guidance available from our estate planning partner.
Is Your Will Still Up to Date?
Your Will should be reviewed when life changes. This could include buying a home, having children, getting married, separating, starting a business, receiving an inheritance or building a property portfolio.
Our estate planner can review your existing Will and help identify whether it still reflects your wishes.
- Have your circumstances changed?
- Are your executors still appropriate?
- Are your beneficiaries still correct?
- Have you had children since writing your Will?
- Have you bought property or started a business?
- Does your Will work alongside your protection policies?
Appointing Guardians for Your Children
If you have children under 18, your Will is the only legal way to appoint guardians for them if both parents were no longer here. Without clear guardianship instructions, the decision may be left to the courts.
A Will allows you to choose who you would trust to care for your children, helping avoid uncertainty and giving your family clear guidance at a difficult time.
Lasting Powers of Attorney
A Lasting Power of Attorney (LPA) allows people you trust to make decisions on your behalf if you lose capacity through illness, accident or injury. Without an LPA, your loved ones may not automatically have the authority to deal with your finances, property, business interests or healthcare decisions, and may need to apply through the Court of Protection, which can take time, cost money and create stress.
Property & Financial Affairs LPA
Covers decisions about your bank accounts, property, bills and business interests.
Health & Welfare LPA
Covers decisions about your medical care, treatment and daily welfare.
LPAs can be especially important for property investors, business owners, company directors and parents, where someone else may need to step in and keep things running smoothly.
How Trusts Can Help Protect Your Family and Assets
A trust is a legal arrangement that allows assets to be held and managed by trustees for the benefit of chosen beneficiaries. Trusts can be used as part of wider estate planning to help provide control, flexibility and protection for loved ones.
Some clients use trusts to help manage how and when assets are passed on, protect beneficiaries, support children or vulnerable family members, and reduce delays after death.
Did you know?
A Family Asset Protection Trust is a specialist type of trust designed to help protect a home and other assets for loved ones during your lifetime and for future generations. The person creating the trust may retain use and control during their lifetime, while trustees manage the trust in line with the trust documents and letter of wishes.
Trusts are not suitable for everyone. They can have legal, tax and practical implications, and they should not be used to deliberately avoid care fees, creditors, taxation or known liabilities. Individual circumstances vary and specialist estate planning advice should always be taken.
Protecting More Than Wealth
Estate planning is about passing on security, guidance and peace of mind to the people who matter most.
Frequently Asked Questions
Ready to Plan Your Estate?
Putting plans in place for the first time, or reviewing existing arrangements? We'll talk you through the options and recommend what genuinely suits your situation.
Review My Estate Planning
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