Planning for later life often requires sensitivity and careful consideration. It’s not just about drafting your Will or setting up a Lasting Power of Attorney. Who you choose to carry out these roles can make all the difference.
Increasingly, people are realising the benefits of appointing professional executors and attorneys. More individuals are turning to experts to handle their estate matters. At Fodens Solicitors, we understand that planning for the future requires careful thought, and we’re here to guide you through the process.
A Will should provide peace of mind, knowing that your property and personal possessions will pass to those you choose. Your executors administer your estate and carry out your wishes as outlined in your Will.
Lasting Powers of Attorney allow you to appoint the right people to make decisions on your behalf if you lose the ability to do so. These individuals, called attorneys, can be appointed to manage your property and financial affairs. It is also possible to appoint attorneys to make decisions about your health and welfare.
Who you appoint in these documents is a significant decision. But what if you are estranged from family or do not feel comfortable asking those closest to you to take on these roles? In such cases, professional executors and attorneys may be an appropriate solution.
They are appointed in your Will, and their job is to gather the details of your assets and liabilities for them to be distributed in line with the wishes in your Will. They act in their professional capacity rather than a personal one.
They are someone who can act on your behalf in relation to your property and financial affairs. They can be appointed under a property and financial affairs Lasting Power of Attorney, where their role is to manage these aspects of your life if you lose capacity.
Professional executors and attorneys are independent individuals who approach your affairs without judgment or bias. They can accommodate specific wishes or concerns you may have and ensure that your assets are managed sensitively and in line with your preferences.
Additionally, professionals are held to the standards of their regulatory bodies, making them accountable for each decision they make. However, professionals will usually charge for their time and services. It is essential to seek advice on whether this option suits your circumstances.
Our Private Client team can be reached on 01952 726111 or at hello@fodens.co.uk if you have any questions. We are here to help.
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