UK:
Estate Planning For Later Years
25 November 2013
Wedlake Bell
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Estate planning is relevant for nearly every stage of adult life
but becomes particularly important in later years when passing on
wealth to younger generations and minimising inheritance tax on
death becomes more of a concern. This is a point when serious
thought should be given to lifetime tax and estate planning and
checking that you have an up to date Will, or if you do not have
one, to make one. Equally important is to make sure that you have
made provision for what would happen if you lose mental capacity
when you become elderly. It is a difficult subject to think about
but it will make it much easier for close family if you have put a
Lasting Power of Attorney in place so that those whom you trust
have power to manage your affairs and make important decisions on
your behalf.
In this article in "Prospects", the client
newsletter of investment managers J M Finn & Co
(www.jmfinn.com), Wedlake Bell
Partner Ann Stanyer, a specialist in elderly
client and Court of Protection work, discusses the estate planning
issues to consider in your later years.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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