One of the most essential arrangements to be made by you and the person you care for is a will. This is a legal document that enables a person to leave their money, property and possessions to those who are important to them. If a person dies without leaving a will, the law decides how the property should be divided up.
Although you can write a will yourself, it is advisable to employ a solicitor. They will require:
When a person dies, their estate is subject to Inheritance tax if its value is above a certain level. Even if they have little money, the value of their property could make the overall value of the estate subject to the tax. Foresight and careful wording of a will could save beneficiaries thousands of pounds.
A Power of Attorney gives you legal control over the finances of the person you care for, but becomes invalid if they become mentally ill. An Enduring Power of Attorney gives you greater control and allows you to manage their finances even if they become mentally ill. However, the right has to be granted to you before they become mentally incapable.