Powers of Attorney
About Crystal Financial Solutions
Crystal Financial Solutions understands the concerns people have about planning for later life.
Established in 2000, we have served the interests of individuals, families and businesses which has
allowed us to develop a friendly and approachable service.
Our Will Writing Service
Making a will need not be complicated. We offer this service for each client and their family,
whether married or not and for partners of the same sex. This service can help you safeguard the
interests of your family, friends and dependants. Using our questionnaire, we can draft your will
from the information you provide.
It is important for both partners to make wills because you may die together. In any event, you
should provide for what should happen when you both die.
The word “partners” is used in this document to refer to all partners, whether married or
unmarried, regardless of gender or sexuality.
What does making a Will involve?
A legally drawn up will is a written statement of your wishes. It enables you to make important
decisions that affect your family and friends after your death. Decisions such as:
Who will inherit your estate (i.e. everything you own)?
Your beneficiaries – the people, businesses or charities that will receive your estate
Who will act as guardians of your children?
Your Executors – the people who will carry out your wishes
Which charities are to benefit from your estate?
What arrangements should I make for my children?
You should consider appointing a legal guardian to look after children who are under 18. When a parent dies, the surviving parent normally becomes the legal guardian. But you may die at the same time, in which case it would be wise to appoint another member of your family or a close friend as a legal guardian.
Your trustees have power to pay money to the guardians for the maintenance, education and general welfare of your children.
Please note: Unless the mother appoints him, an unmarried father will not automatically become the
guardian of his natural child on the death of the mother.
Assets that may not be covered by your will
1. Death benefits under a pension scheme are usually distributed at the discretion of the pension fund trustees. You should therefore let them know of your wishes. Often, they will require you to complete a nomination form indicating who you would like to benefit. We would advise you to review your nominations annually.
2. Life assurance policies, if written in trust, are payable to the named person(s), whatever your will may say. We would advise you to check these annually.
3. Assets in joint names may pass to the survivor. If you wish to leave your share of jointlyowned assets to someone other than your co-owner, you may need to take steps to divide the ownership of those assets. If, for example, the jointly-owned asset is your home, you should have the wording of the title deeds checked. Normally, the title deeds are worded in such a way that your share would automatically pass to the other owner on your death. This requires conveyancing work such as drafting a declaration of ownership. This work falls outside the wills scheme.
What is a Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) is a legal document in which you name the people that you would like to manage your affairs and make decisions on your behalf if you should become unable to do so through accident or illness. The people you choose are called your ‘attorneys’.
Your LPA can only be used by your attorneys after it has been registered with the Office of the Public Guardian (OPG). The OPG is a government body responsible for registering and overseeing LPAs.
There are two different types of LPA:
A property and financial affairs LPA allows your attorneys to deal with your finances and property if you can’t manage these things anymore, or if you need some help with this.
This might include collecting your income and benefits, managing your savings and investments, selling your house and paying your bills. If you want to, you can limit the decisions your attorneys are allowed to make, or place conditions on what they can do or when they can act.
A health and welfare LPA allows your attorneys to make decisions about your medical treatment or your day-to-day care or even where you live. If you wish, you can also give your attorneys the authority to accept or refuse life sustaining treatment on your behalf.
Your attorneys will only be able to make decisions about your health and welfare if you have lost the mental capacity to make these decisions for yourself.
Speak to one of our Wills & Powers of Attorney specialists
Leave your details below and one of our advisers will be in touch to discuss your
wills and powers of attorney request and book you in for a detailed consultation.