Legal Q&A: Wills and Trusts Guidance
Purpose To offer expert legal advice on key issues regarding wills, trusts, and powers of attorney, tailored to individuals with severe ME/CFS and their carers.
Key Points
- Managing Financial Affairs
- Individuals with severe ME should consider granting a Lasting Power of Attorney (LPA) for Property and Finance, appointing both primary and replacement attorneys to ensure continuity.
- Medical Decision Support
- While an LPA for Welfare can only be used if the individual loses mental capacity, alternative support arrangements can be made for assisting with medical decisions while retaining autonomy.
- Protecting Inheritance
- A discretionary trust within a will, managed by independent trustees, can safeguard assets and ensure that funds are not depleted by care costs, allowing for tailored provisions.
- Including Beneficiaries
- Trusts should include multiple beneficiaries, such as charities, alongside the primary beneficiary to ensure flexibility and legal compliance.
- Professional Expertise
- Consulting a solicitor specializing in wills and trusts is highly recommended to prepare documents like discretionary trusts and letters of wishes effectively.
Target Audience Individuals with severe ME/CFS, their families, carers, and anyone seeking legal advice on wills, trusts, and powers of attorney.
Overall Outcome The provided legal guidance ensures financial security, continuity of decision-making, and protection of assets for individuals with severe ME/CFS. Consulting specialized solicitors is vital to navigate these complex legal matters effectively.
File Type:
pdf
File Size:
133 KB
Categories:
Newsletter Q&As