Future-Proof Estate Planning

PRODUCTS & SERVICES

Products Available Through the Review

Whether you need to arrange or update your Will, understand how a Lasting Power of Attorney or Trust could help you, or even how we can assist you in the probate process, Future-Proof Estate Planning can help to protect your family wealth. 

Last Will and Testament 

Every adult should have an up to date Will that gives them- 

1.

Complete control of what happens to their assets after they die 

2.

Ensures their family and dependents have the security they deserve 

You can use our on line process to arrange a Will, with expert guidance, from just £99. 

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Lasting Power of Attorney 

LPA’s enable you to appoint a trusted person of your choice to handle your affairs for you in the event that you become unable to, due to illness or accident. 


A property and financial affairs LPA will allow your nominated attorney(s) to handle your bank accounts, deal with bills and investment decisions and manage your property interests. 


A Health and Welfare LPA covers decisions about your health and care and illnesses such as a stroke, Dementia or Parkinsons disease. 

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Protective Will Property Trust and Discretionary Will Trust 

Pass your share of a property to those that may otherwise miss out. 

Keeping your family home in the family 

A Property Trust can be created when a property is jointly owned. Our review process will recommend the products that can provide the correct protection for you, your family and your assets. 

  • What does it mean for the surviving partner?

    • The surviving owner has the right to live in the property for the rest of their life.  They cannot be evicted by the trustees (your chosen people who manage the Trust). 
    • The surviving owner can sell the house if they wish to and buy another, but any profit will be split equally between them and the trustees. 
    • The surviving owner usually controls the Trust with at least one other person, typically another family member. 

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Making a difficult time easier 

Probate and Estate Administration Services

Coming to terms with the loss of a loved one is difficult enough, therefore we aim to provide a service that will make the administration of an estate as stress free as possible. The Probate team at Honey Legal can smoothly guide you through the most complex or simplest of estates when the time comes.

  • What is Probate?

    • It’s a legal document that is submitted when a person dies. 
    • Probate is needed before any administration of the deceased’s estate can start. 
    • It can involve sorting out all claims, distributing assets left in the Will and making sure all legal and financial affairs are in order.

  • How could I benefit from this service?

    • Dealing with estate administration has many duties and responsibilities. 
    • It can be a huge burden on a person who is already enduring great emotional distress after losing a loved one. 
    • Probate can be a complicated process, and it’s very important that it is completed accurately. 

  • How can the Probate Service help my family?

    Experts will be on hand to guide your loved ones through the whole probate process.  They are on hand to make things as simple as possible during a very emotional and difficult time, guiding your relatives through all the legal, financial, tax, estate asset and communication duties. 


    Legal 

    • Drafting, preparing and submitting the probate papers. 

    • Establishing and managing any Trusts created by the Will. 

    • Identifying joint assets, or any life or minority interests. 



    Financial 

    • Ensuring all liabilities are paid from the estate. 

    • Preparing estate accounts and obtaining approval. 

    • Distributing the proceeds of the estate. 


     

    Tax 

    • Preparing income, inheritance and capital gains tax forms. 

    • Calculating and paying what’s owed. 

    • Obtaining clearance from HM Revenue and Customs. 



    Estate Assets 

    • Collecting all assets. 

    • Obtaining formal valuations. 

    • Arranging sales and closing accounts. 



    Communications 

    • Contacting financial, governmental bodies and interested parties. 

    • Obtaining details of all estate assets and liabilities. 

    • Placing Trustee Act Notices. 


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SIMPLE - EFFECTIVE - AFFORDABLE

Additional services you may need from our trusted partners

Do you know that without the right planning, HM Revenue and Customs can become the single largest beneficiary of your estate following your death?  Don’t worry – by working with your financial adviser we will make sure that you are fully aware of what the impact of inheritance tax might be and understand what can be done to significantly reduce its potential impact upon your estate. 




If you need to meet an unexpected expense or face a pension shortfall, you can release equity from your home.  You still keep your home and continue to live there, but you’ll also get a lump sum or a steady source of income just by using the value of the house.   


There are two types of equity release:  


1) Lifetime mortgages, which allow you to borrow money against your house


2) Home reversion, where you sell a share of your property 


We work closely with a number of equity release specialists who can help you to understand what options are available to you as part of your overall financial planning.      


 

Honey Legal’s Living Trusts are specifically designed to protect your assets for you during your lifetime. They give you the peace of mind that your estate can be passed on securely and intact to your spouse, your children and their bloodline, or other named beneficiaries, after your death. 


A Living Trust is a lot like a Will in that you set out your wishes about your assets and your heirs. However, a Will can only become effective when you die and after the probate process. A Living Trust is effective while you are still alive.  


  • You can place many assets into a Living Trust, such as property, savings and investments.  
  • The Trustees will take control of the assets immediately, which can be very beneficial to you and your family in certain circumstances.  
  • A Living Trust bypasses the time-consuming process of probate and assets can be managed without the need to wait for the Grant from the Court.  
  • If the Settlor wishes, the Trustees do not have to wait for the Settlor to die to provide assistance to the beneficiaries.  They can see their beneficiaries benefit during their lifetime.  
  • You can place your assets in a Trust to make sure your beneficiaries receive them at a time that’s right for you and for them.  
  • You have complete control – you decide on the trustees and what they can and cannot do.  This is beneficial if at some point in the future you are unable to manage your financial and legal affairs due to incapacity such as dementia.  
  • A Living Trust can protect your share of assets for your children in the event that your partner should marry or co-habit after you have gone. 

Case studies

These case studies give examples of how we can help in specific circumstances. They are drawn from the experience of Honey Legal, our trusted legal partner, who check and assure all the products Future-Proof Estate Planning offer.