Attorney of an executrix who has lost mental capacity can administer an estate in her place. In the recent case of Whittaker v Hancock, the High Court held that where an executrix of a will had lost mental capacity, her attorney under a property and financial affairs lasting power of attorney (‘LPA’) could be appointed…
Wills are essential to the ordered devolution of your estate, to ensure your property passes to your chosen beneficiaries (which it may not do if you do not make a will), and does so in the most effective way.
Wills not only allow you to choose who should benefit, and to what extent, but also:-
- to choose who you want to manage the administration of your estate (your “executors”);
- to choose an age at which young beneficiaries inherit (many consider 18 to be too young);
- to appoint guardians of your children during their minority;
- to create on-going trusts to safeguard vulnerable beneficiaries;
- to minimise your estate’s inheritance tax liability;
- to reduce administration time and expense.
Clients with assets overseas may need local advice on Wills and succession planning. We frequently liaise with overseas lawyers to ensure appropriate testamentary documentation dealing with our clients’ worldwide estate is in place.