How We Help

Will Writing

A Will or your Last Will and Testament, is a document which outlines what you would like to happen to your assets after your death. Included in this should be property, money, investments, jewellery, pets etc. It is not just about where your assets should go, but it also communicates your wishes very clearly to make it easier on your family and it helps to avoid mishaps.

It is a job that almost everyone puts off, but it doesn’t have to be a painful experience. We do our best to make the process as relaxed as possible. The peace of mind that comes from knowing that this important job is finished is well worth the time and effort spent on completing the task.

Guardianship

Any child under the age of 18 must have a Guardian who is responsible for them. What would happen if both parents were to die in an accident? If you don’t have guardians nominated in a Will, then your child may not be looked after by the right person.

If there is no evidence of Guardians being appointed, then the State takes responsibility until a Guardian is found and the child or children will be placed in an orphanage. If no suitable person is available or willing to do it, then the State remains in charge of the orphaned child or children until they become 18 years old.

There are several sad incidents where families have been torn apart because a Will had not been created. If you have young children, it’s important for them and the Guardians to know exactly what is required. Within your Will you will apportion monies to look after the children and the guardians will act on your wishes. This may also be a good opportunity to review your life insurance to provide for this event.

Living Wills

A Living Will is different to a Last Will and Testament. This is a document that is created to state your wishes for end of life medical treatment.

A living will, also known as an advance medical directive, is a document that lets people state their wishes for end-of-life medical care, in case they become unable to communicate their decisions. It has no power after death and you will still need a Will for after your death to finalize your other affairs.

Enduring Power of Attorney

There has been an unfortunate increase in Dementia and illnesses that can render you mentally incapable. What happens if this happens to you and you do not already have your financial affairs in order?

An Enduring Power of Attorney (EPA) is a document that appoints a person of your choice to act on your behalf if you are unable to manage your own affairs. It is crucially important as you are still alive during this time so your Last Will does not come into effect and not having an EPA may cause delay or inability for your loved ones to be able to access potentially vital funds.

Estate Planning

As Benjamin Franklin once said “In this world nothing can be said to be certain, except death and taxes”. Whilst some countries, such as Hong Kong, do not have Inheritance Tax (IHT) it is vital to understand the tax implications of each country that you have assets in. For example, property owned in the UK is subject to IHT in the UK of 40% irrespective if you have lived there or not.

Estate planning strategies can help to mitigate or reduce taxes that may be due and can ensure that more of your wealth is passed to your loved ones.

Solutions For Business Owners

Owning a business can be very rewarding, but it can also add an additional level of complexity to your circumstances.

It is vital that business owners should have the appropriate solutions in place to ensure that equity can be passed on, any debts can be cleared and that the business can continue with minimal disruption.

If you are a business owner speak to us today to see how we can help.

Review and Update Service

As time goes by your circumstances may change and perhaps your wishes and estate planning needs will to.

For a small yearly fee our Annual Review Service will ensure that your Will remains up to date and that your wishes will always be actioned as you would hope.

We are pleased to offer changes to your Wills at no extra charge if you opt in to our annual review service.

Secure Will Storage

Having a Will is no good if it cannot be found and it is estimated that almost one third of Wills go missing! You should also note that a copy of a Will, whilst useful, is not valid for probate submission.

If your Will cannot be found then the court will deem you to have died Intestate and this may subsequently lead to un-necessary stress and delays to your family and beneficiaries, as well as your wishes not being executed as you would have hoped.

For a small yearly fee Phoenix can store and safeguard the original Will so that you and your beneficiaries will know at all times where it is should it be needed.

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Wills, Guardianship and Estate Planning