Lasting Power of Attorney is a legal document where someone (while they still have mental capacity)
nominates a trusted friend or relative to look after their affairs if they lost capacity.
If someone has difficulties that mean they can't make decisions anymore, they will need help managing their finances. The common assumption by many, is that relatives are free to access your money if you were to lose capacity in some way.
Considering LPA is not only about financial issues. A Health and welfare LPA allows you to nominate a trusted person to make day-to-day decisions over your healthcare and medical treatments as well as deal with any health and social care staff.
Inheritance tax is a type of tax you have to pay on your estate when you die. Including all the assets you leave for your loved ones, like your home, investments, stocks, shares and possessions.
The Inland Revenue will receive 40% of your estate over the Nil Rate Band unless you plan in advance. We can legally help you and your family to significantly reduce your Inheritance Tax liability.