Compass IFS Legal Ltd
Compass can help you plan for your future with our Legal Services, including Wills and Powers of Attorney.
Compass IFS Legal Ltd is a newly launched and wholly owned subsidiary of Compass Independent Financial Services Ltd, offering wills and powers of attorney. It is headed up by our experienced legal specialist Rachel, who is a Fellow of the Chartered Institute of Legal Executives and has worked in the legal sector for 10 years.
Rachel specialises in wills and powers of attorney and you can find out more about her on our Meet the Team page.
You can rest assured that clients of Compass IFS Legal will experience the same, friendly and knowledgeable ethos Compass has had since it was established in 2001:
We are friendly, approachable and truly care about our clients.
We don’t use legal jargon, just plain and simple language.
We listen and advise from our many years of experience.
If you need to make a Will or Lasting Powers of Attorney call Rachel on 01603 717202 to find out more details about how we can help you and your situation.
Lasting Powers of Attorney
None of us know what the future will hold. The purpose of making a (LPA) is to appoint someone else to act on your behalf. The person making the power of attorney is called a Donor and the person appointed to act on their behalf is called an Attorney. The document needs to be registered with the Office of the Public Guardian (OPG) before it can be used.
We all put in place insurance policies for the unexpected, giving peace of mind and having LPAs is the same principle. We do not all make an insurance claim, but if we need to the policy is there. You may assume that if you are married or in a civil partnership, that you have nothing to worry about and your spouse can deal with things without any problem, however, in practice it does not work that way. As soon as a bank learns that one of you has lost capacity, they will usually freeze any accounts and third party mandates.
When can you put an LPA in place?
You must be capable of making decisions for yourself, able to understand information about a decision, use this information in order to make a decision or communicate your decision. This is called having mental capacity. If there is any doubt about having mental capacity, then it would be necessary to seek a medical report before the LPA could be put in place. E-mail Rachel today for advice and guidance on the types of support we can offer.
Making a Will puts you in control of how your estate will pass and who will deal with it for you. There are different types of Will to suit your circumstances and Compass IFS Legal Ltd can help support you, whether its a single, straightforward mirror, life interest trust or a bespoke will. If your needs are more complex these would be discussed at the initial instruction and fees advised accordingly.
What happens without having a Will?
If you die without a Will your estate is dealt with according to the Intestacy Rules of 1925 and updated in 2014. Therefore, your estate would be administered according to this fixed set of rules regardless of your wishes and intentions. In some cases, intestacy rules can cause your loved ones to miss out entirely and receive nothing or force them to pay a hefty inheritance tax bill that you could have avoided by making a will.
Why make a Will?
Making a Will leaves things clear and easy for those you leave behind. You can review and keep it up to date when your life and circumstances change. At an emotional time, your nearest and dearest will be able to carry out your instructions. Do you want to leave your family provided for and protecting against possible difficulties? Hostilities over a disputed estate upon death can tear families apart.
Get in touch with Rachel today if you are considering the peace and security of a Will for your your family.