Vistaara Wills & Estate Planning

Vistaara Wills & Estate Planning Helping you with your Will Writing & Estate Planning Needs! Wills, Trusts, Power of Attorneys, Proba

WHY DO I NEED TO HAVE LASTING POWERS OF ATTORNEY? There may come a time in your life when you are unable to manage your ...
05/07/2022

WHY DO I NEED TO HAVE LASTING POWERS OF ATTORNEY?

There may come a time in your life when you are unable to manage your financial affairs and personal welfare. Things such as a loss of mobility or illness can make it difficult to manage your affairs, and in case of incapacity, your loved ones would have enough on their plate without the added worry of having to sort these out.

You might think that, should you become incapacitated, your spouse or family member would instantly gain control of your estate, finances, or wellbeing. But this is NOT the case! You need to choose people you can trust, who will act in your best interests, such as a relative, friend or professional.

It can be invaluable having a trusted person to manage your affairs, however, unless you have signed a power of attorney, your family won’t have any authority over your welfare or your money. The Court of Protection will appoint a Deputy for you, and this could be someone you wouldn’t have trusted or wanted to manage your affairs.

This is why it is so important to have Powers of Attorney in place. You can appoint the right person or the right people to make the correct decisions about your welfare and your estate at the right time.

Contact us today for more information on Powers of Attorney and how we can ensure your wishes are carried out.

0208 150 3719
[email protected]

Lasting Powers of Attorney ❓What is a Lasting Power of Attorney?❓❓Are there different types?❓❓Why do you need one? ❓❓Whe...
04/07/2022

Lasting Powers of Attorney

❓What is a Lasting Power of Attorney?❓
❓Are there different types?❓
❓Why do you need one? ❓
❓When might you use one? ❓

Want all these questions plus more answered then LIKE, FOLLOW & SHARE this post!

We will be talking about all things Lasting Powers of Attorney this week and answering any questions you may have!

Don’t want to wait and want your questions answered sooner then contact us today!

0208 150 3719
[email protected]

ARE YOU THE ODD ONE OUT? Legal and General have published research showing a change in the attitude towards will writing...
01/07/2022

ARE YOU THE ODD ONE OUT?
Legal and General have published research showing a change in the attitude towards will writing in the UK. The report shows that the unprecedented times of the COVID 19 pandemic have encouraged more people to write their will, with the search term ‘will writing’ gaining 11,000 searches a month in March 2020.

This research has shown that more people are thinking about and looking for ways to secure their future, with the majority saying they do plan to write a will in the future. 35% of respondents without a will said that they would be more likely to write a will if they came into money or fell ill, and 31% cited advancing age as a motivator to write a will in the future. However, despite growing awareness of intestacy and the pitfalls of not having a will in place, 17% of people without a will admitted that nothing would make them more likely to write one.

The pandemic has also had different effects on will writing for each generation. Over half of survey respondents (52%) aged between 16-24 said that their perspective on Will writing had changed during the pandemic, and that they had updated their will because of it, while for over 55’s, this was only 14%.

Don’t be the odd one out! Without a Will, your children/chosen beneficiaries may not receive what you had intended for them. If these uncertain times have made you think about writing a Will, but you don’t know where to start, we can help! We will take you through the process of putting a Will together from start to finish, ensuring that you can secure your loved one’s future!

0208 150 3719
[email protected]

Will Disputes / Contentious Probate Many people believe that once they have created a Will, their wishes will be carried...
30/06/2022

Will Disputes / Contentious Probate

Many people believe that once they have created a Will, their wishes will be carried out exactly as they wanted. But new research from IBB Law is indicating that will disputes are more common than you might expect!

The research has uncovered that 3 in 4 people are likely to experience a Will or inheritance dispute, and you are more likely to be faced with a dispute from a sibling than anyone else. In addition, their research indicated that men are more likely to be involved in an inheritance dispute and are involved in multiple disputes more often than women.

IBB Law’s research also highlighted common reasons why people dispute inheritances. Commonly cited reasons included the estate not being distributed properly and claimants not being happy with the inheritance they received.

Will disputes are becoming more common, and it can cause undue stress on bereaved family and loved ones. We can help you ensure that your Will would stand up to any challenge. Contact us today for more information.

0208 150 3719
[email protected]

Source https://todayswillsandprobate.co.uk/three-in-four-uk-adults-likely-to-experience-a-will-dispute/

THE ROLE OF AN EXECUTOR: You might think it is an honour to be chosen as the executor for someone’s will but think again...
29/06/2022

THE ROLE OF AN EXECUTOR: You might think it is an honour to be chosen as the executor for someone’s will but think again! Being an executor is a job for life and is often a difficult and time-consuming position.

Many people don’t understand the full responsibilities of an executor and can end up being incredibly stressful. It is essential that you carefully consider who to appoint as your executor, as this position carries legal liabilities and can often make the person unpopular with the beneficiaries of your estate.

When choosing your Executors, you can select Individuals, Professionals (e.g. Solicitors or accountants) or a Trust Corporation. There are advantages and disadvantages to each type, which must be considered alongside the circumstances.

It is often wise to appoint more than one executor to help balance the workload - appointing a Professional Executor alongside your relative can guide them through the process and ease their burden. It is also important to have more than one in case one of your choices predeceases you or is unable to perform the role.

We can help you learn more about the role of an Executor and provide advice on who you should choose. Contact us for more information:

0208 150 3719

[email protected]

IS YOUR WILL UP TO DATE? New research has shown that almost half of all Wills in the UK are likely to be out of date, an...
28/06/2022

IS YOUR WILL UP TO DATE?

New research has shown that almost half of all Wills in the UK are likely to be out of date, and almost half of all Brits (who have a Will) haven’t updated their Will for more than 5 years.

The research also suggests that the majority of respondents didn’t realise that without a valid Will, their assets might not go to the right person/people. In fact, only 34% of respondents knew that their spouse or partner wouldn’t automatically inherit their full estate without a valid Will in place.

It is recommended that your Will is reviewed every 5 years, or when a major life event occurs that impacts you and your loved ones, such as divorce, marriage, or a death in the family. Without this, unchecked or outdated Wills could have severe implications for loved ones, including missed inheritances and higher inheritance tax fees.

Having an up-to-date Will is crucial in ensuring that your wishes are carried out in the way you want. We can help you draft a Will that can protect your assets and ensure that they will be passed on to your intended beneficiaries. Contact us today for more information!

0208 150 3719
[email protected]

Source: https://www.todayswillsandprobate.co.uk/half-of-uk-wills-out-of-date-sfe-launches-update-your-will-week/.

Dangers of DIY WillsExperts have warned that making your own ‘DIY’ Will can be really risky as they may be deemed invali...
27/06/2022

Dangers of DIY Wills

Experts have warned that making your own ‘DIY’ Will can be really risky as they may be deemed invalid after your death if not done properly.

When people write Wills themselves, individuals may not understand the intricacies of legal clauses and if the wording is in any way ambiguous, it may lead to legal challenges and disputes after you’re gone.

Sandro Forte, CEO at Forte Financial, said:
"A DIY will is exposed to being declared invalid if the terms of the Will are ambiguous. This will mean it fails to effectively dispose of your assets in the correct manner. By contrast, clauses in professionally drafted wills have stood the test of time and overcome legally scrutiny for centuries. Legal documents still use a fairly ‘old-fashioned’ language and this is largely because the implication of a single incorrect word can often affect what your will intends.” [Source: https://www.express.co.uk/life-style/life/1472841/frisk-danger-warning-diy-wills]

The demand for Wills, Trusts and Powers of Attorney has never been greater. Using a professional Will writer to prepare your estate planning ensures that your Will is valid, as well as having the correct planning in place for your individual circumstances.
Even if you already have a Will in place, when was the last time you even looked at your Will? Does your Will reflect your current circumstances? Has anything changed? Ultimately, will your Will really do what you want it to do?

We understand just how important it is to know that you have done right by those you care most about, bringing you peace of mind. For more information, please contact us on 0208 150 3719

2020 has been a year of growth for Vistaara Wills. Thank you to all our clients for giving us the opportunity to serve t...
23/12/2020

2020 has been a year of growth for Vistaara Wills. Thank you to all our clients for giving us the opportunity to serve them! Wishing you all health & happiness in 2021!

13/05/2020

Please note that on Thursday 14th May 2020 we will be closed due to a family bereavement. Our phone lines will remain closed. For any urgent matters please email [email protected] and someone will come back to you as soon as possible. Thank you for your understanding.

LONG POST ALERT 🚨 There are many myths spoken and misconceptions about Powers of Attorney and who actually needs to have...
29/04/2020

LONG POST ALERT 🚨 There are many myths spoken and misconceptions about Powers of Attorney and who actually needs to have one in place. It’s time we dispelled them and set the story straight.

So WHO actually needs a Power of Attorney?

The simple answer is quite literally EVERYONE!

MYTH - Powers of Attorney are only for the elderly, infirm or those suffering from dementia (eg, Alzheimer's)

TRUTH - Anyone of any age can suffer from a stroke, serious accident or illness and be unable to manage their affairs for themselves.

MYTH – My next of kin would be able to sort out my affairs if anything happened to me.

TRUTH – Next of kin is a title that can be given, by you, to anyone from your partner to blood relatives and even friends This means that you have no legal rights as a result of this title. This can create difficulties if you haven’t put additional measures in place to manage your relative or loved one’s affairs. If you do not have any legal rights, you cannot make decisions on their behalf.

MYTH – I have a joint bank account with my spouse/ civil partner so it wouldn’t affect us.

TRUTH – Even if you have a joint bank account it is common practice for high street banks to freeze withdrawals from a joint account if one of the account holders becomes mentally incapable.

MYTH – A Power of Attorney is only to allow people to deal with your money.

TRUTH – There are actually TWO types to consider: one for finance and property, and another for health and welfare.

MYTH – If I was seriously ill in hospital then my next of kin would make all medical decisions on my behalf automatically, they would know what I would want.

TRUTH – Unfortunately this is not the case. Without a health and welfare power of attorney in place they would be unable to make decisions over your day-to-day healthcare and medical treatments, as well as deal with any health and social care staff.

It’s important to note that you can only set up a Power of Attorney when you have mental capacity. Once you've lost capacity, it's too late.

17/04/2020

Why use a Mortgage Broker?
Sheetal JethwaHardik PatelMinesh Nandha Vistaara Wills & Estate Planning

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