Estate planning insights

Securing generational inheritance starts with straightforward, transparent guidance. With over a decade of dedicated estate planning experience in Great Yarmouth, Legacy 1st debunks common myths around wills, lasting powers of attorney, and family trusts, helping you protect what matters most without legal jargon or hidden surprises.

Frequently asked questions

Over 60% of adults in the UK do not have a valid will, and more than 80% lack a Lasting Power of Attorney. Misconceptions around automatic spousal rights, sideways disinheritance, and probate rules cause preventable heartache for families across Great Yarmouth. Explore the facts below to safeguard your family's future.

Why do I need a Will?

Would you go into a restaurant give them £50 and let them decide what you ate, drunk and tipped? Obviously not and thats only £50 so why would you put at risk your whole lifes wealth?

A Will is like planning a holiday or ordering food? You know what you want and insist it is right? So surely you want at least the same or more for your estate. A Will ensures regardless how little or large your estate is you give it to who you want.. The little gift of a ring to a loved one, the ornament, the family heirloom, they may only have emotional value but without clear instructions what happens to them? The cost of a simple Will with very little to leave is minimal so why wouldnt you?

What is an LPA for?

In the words of Martin Lewis one of the UK's leading economy experts they are more important than a Will (Agree but they do not replace a Will in any way).

The importance of an LPA is they affect your life while you live it. An LPA ceases to have any value once you pass. Two different LPA's exisit both equally important and they replace the old Enduring Powers of Attorney. They are Health & Welfare and Financial & Property. With an LPA in place within days your nominated attorneys (People you appoint to handle your affairs) will have control of your finances. Should a medical or life episode occur leaving you with no capacity they can control how you are treated, were you are placed, the way you are handled. In short in my opinion EVERY adult in the UK should have the pair!

Why Legacy 1st?

For us a simple answer, you can trust us, trust us to give honest guidance, trust us to ensure your wishes are followed completely.

Experienced in both Estate Planning and life. We have personally dealt with our families affairs in life and in death. 3 out of 4 had the right protection in place sadly 1 did not, the situation was very different for the 1. Deputyship was required (another area). It was costly, painful and many other words, the member of family was highly educated but matters happened to fast and she always put it off to tomorrow! 

Today could already be to late, lets talk? 

What is Sideways Inheritance?

Great question and honestly happens more than any would ever think. I will try to keep it simple as it is easy to get lost in Jargon.

What is sideways inheritance firstly? Money intended for your family goes to a completely different family! Sounds unreal doesnt it, but very easy to happen.

Married couple with 3 children, they write "Mirror Wills" so in short they reflect each others wishes to leave equally to their children, sounds good?

One passes unexpectadly at 50 years of age, no age. The Will leaves everything to the other partner and their Will leaves everything to the children so whats the problem?

Four years later surviving partner meets a new partner and gets married, next few weeks are a blur of happiness and honeymoon as would be expected but then out of the blue a medical incident occurs and what was the surviving partner passes from a massive heart attack, sad but they had a Will yes? NO.

Upon marriage any previous Will is negated! So passed with no Will thus died Intestate (Another subject, sorry but the law is like that!) in Intestacy the children from the previous marriage are behind the new legal partner, thus ALL estate passes to new partner as a new Will was not drafted. A reason why Legacy 1st carries out 2 yearly reviews to ensure all is still relevant.

Are you married?

Yes, 21 years but 3rd marriage! Thus a blended family with step children and children from previous marriages.... A Minefield but luckily I know someone!

How long does this really take?

Difficult question as a simple Will from fact find to draft to execution (signing nothing more sinister!) is maybe 4-5 hours. Where as the all inclusive package is maybe 20-40 hours. In the middle LPA's drafting a pair for an individual around 3-4 hours and 5-6 hours for a couple.

What happens if it goes wrong?

It hasnt yet but should it happen we carry an Insurance policy valued at up to 2 million pounds per drafting. Should higher value estates be dealt with we will if required arrange bespoke insurance.

What if my circumstances change in 8 months?

We offer a FREE 2 year review so at 8 months no problem. Should the changes be small we will happily just carry the work out (maybe ask you to tell your friends & family how nice we are!). If it requires extreme re-drafting we will quote you in advance but will attempt to limit the fees as much as possible

Protect your family's future today

Don't leave your estate to the strict rules of intestacy or leave your health choices to chance. Explore our bespoke estate planning services or contact Legacy 1st to begin securing your generational legacy.

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