Wills & Estate Planning

These products are not regulated by the Financial Conduct Authority and are not authorised via PRIMIS Mortgage Network to advise on them, neither Enable life Limited nor PRIMIS are responsible for the service received by Enable Future.

Allows you to decide who receives your money, property and possessions.

Sam doesn’t just enable your life to continue, she also enables your future to continue too. 

As a business owner, having a will and an estate plan is critical. A will specifies how your possessions should be distributed after you pass away, while an estate plan can aid with the smooth operation of your firm after you’re gone.

With Enable Life, Sam helps you protect your protection.

Wills & Estate Planning gives you the security that any Inheritance Tax allowances are used. Which all lead to peace of mind for your family at a sensitive and emotional time.

Wills

Without a Will your money, property and possessions will pass in accordance to legal rules which may not reflect your own personal wishes and can be a lengthy process to sort out retrospectively.  Putting a Will in place will mean you choose who gets what and when.

It is essential to consider your Will through different life events including:

means any existing Will becomes null and void – your current spouse will inherit your estate which means any children you have from your previous marriage/relationship will be disinherited.

means any existing Will remains valid – therefore if you are separated and have no will your spouse will receive your estate whilst still legally married.

can be left financially vulnerable without a Will in place, especially if you have children together.

need you to decide who has legal guardianship to raise them – alternatively with no Will they will be looked after by the state until a legal guardian has been appointed, which may not be who you want it to be.

needs to be considered to minimise your tax liabilities.

Lasting Powers of Attorney's

Without an LPA your loved ones will not be able to make any decisions on your behalf if you become incapacitated to make any decisions yourself.  Gaining access to bank accounts, Utility companies, Pension providers and HMRC/Local Tax authorises will be denied, even for a spouse.  An LPA enables you to legally empower people you trust to manage your affairs when you are unable to do so.

There are three types of LPA to consider which allows your nominated people to make decisions on your behalf when you have lost mental capacity:

on your general wellbeing including diet, holistic therapies and what to wear through to more vital Health decisions of seeing a doctor, taking medication and life-sustaining treatment.

 including your bills, bank accounts, pensions, taxes and property.

as your role as business owner, director or shareholder, you need someone to have access to bank accounts, HMRC, Pension Providers, Suppliers, Customers that form part of your business role.

Trusts
Business Trust
Property Protection Trust
Discretionary Trust
Flexible Life Income Trust
Lifetime Trust

Without a Trust in place your estate is open to being passed onto the next generation with an Inheritance Tax liability if over the current threshold.  This can be more time consuming and stressful for your trustees and beneficiaries of your estate.  Putting your estate into Trust will ensure it goes to the right person at the right time.

There are a number of considerations to make for your beneficiaries:

allowing them access to their inheritance at different stages or events of their lives rather than all in one go.

with a disability may have benefits stopped due to inheritance which is not in Trust or if the adult needs long term care a Trust will ensure the provision is there for their lifetime.

can create a beneficiary to have to give up a percentage of their inheritance if not in a Trust as it will form part of their partnership estate.  Placing this in Trust will ensure their spouse is not entitled to their inheritance.

can mean without a Trust your children or chosen beneficiary will no longer inherit as per your wishes in your Will as this is now null and void.

such as care home costs are taken from your estate value if this is not secured in Trust, which means your children or chose beneficiaries will no longer receive their inheritance.

is calculated on your total estate valuation, anything in Trust is excluded from this, therefore reducing your Inheritance tax liability

Probate

Having a Will in place allows you to choose your executors of your estate who administer the Probate process.  Without a Will it can be a lengthy and expensive process when using a Bank or Legal Professional.

Executors may not have the time or confidence to do the work, or feel emotionally able to cope with the legality of the process after losing a loved one.

Having an expert on your side working on behalf of the Executors for the following can be much more efficient:

can be complex to work out the liability and submitting HMRC forms.

to beneficiaries and setting up any additional Trusts

including multiple properties, multiple trusts and Will disputes

can be just what you need and in the comfort of your own home.

for our services rather than an hourly rate which can escalate.

Pre-paid Funeral Plans

Gives you the ability to plan ahead, arrange and pay for your own funeral in advance which is fixed at today’s prices.  It prevents the family from having the burden of paying for your funeral at an unknow future cost.  Since 2004 the cost of an average funeral has increased 92%.

This will minimise any stress and uncertainty for your loved ones at an emotional time.  It will allow you to choose in advance things that are important to you, including the type of service, music, readings and special wishes.  Provides you with:

so there is nothing more to pay

ensuring you are not going to be subjected to price future increases

as these are invested with Scottish Friendly who are regulated by the Finance Conduct Authority (FCA) along with the Funeral Planning Authority (FPA) approved.

These products are not regulated by the FCA and are not authorised via PRIMIS Mortgage Network to advise on them

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