Three New Year’s Resolutions for 2012
Along with shedding the pounds gained over the festive season,
looking after the pounds we have worked so hard to earn tops the
list of most common resolutions we make as the clock strikes
Here are our top three tips to take control of your finances in
1. Make a Will
Nearly two thirds of adults in the UK do not have an up-to-date
Will. Without a Will, the law decides who will be entitled to a
share of your estate. The absence of a Will can complicate and
prolong winding up your affairs causing unnecessary anxiety and
expense for those you leave behind.
As well as providing for distribution of your assets, a Will can be
also be used to reduce tax liabilities on death and nominate
guardians for young children.
2. Put in Place a Power of Attorney
By granting a Power of Attorney, you can authorise family,
friends or professionals to deal with your welfare should you
become incapacitated. This document can also include powers to deal
with financial matters on your behalf. Without a Power of Attorney,
your assets would be frozen and your family would have to go to
court for permission to act as your guardian, a process which costs
thousands of pounds and can take months.
Your financial attorney can also deal with your affairs if you
are abroad which can be convenient when dealing with property
transactions or investments.
3. Start Planning for Your Retirement
In these uncertain times it is all the more important to have
the peace of mind which comes from the knowledge that you have
planned for your retirement. This will depend on your individual
circumstances but could involve setting up a trust or doing some
Our experienced Private Client Team
specialise in drafting Wills and Powers of Attorney and undertaking tax planning. We
take the time to understand your priorities and give you the
comfort that comes with being prepared for the future.