The Situation:
Robert and Linda have been married for 30 years. They own their home together and have two adult children. Robert has never made a Will or an LPA. Linda has a Will leaving everything to Robert and then to the children, but no LPA. Robert develops dementia, which leads to an inability to manage his affairs, and he later passes away.
The Fallout:
- During life: Because Robert has no LPA, Linda cannot manage his bank accounts or pensions. She must apply to the Court of Protection for a Deputyship Order, which is slow, stressful, and costly.
- After death: Because Robert has no Will, his estate passes under the intestacy rules. Linda inherits only part of it, with the children inheriting a share immediately, creating unnecessary complexity and tax consequences.
What Would Have Happened:
If Robert had made both LPA and a Will, Linda could have:
- Managed his finances, health, and welfare decisions during his lifetime.
- Inherited smoothly and tax-efficiently after his death.
Why this matters:
LPAs are critical during life, and Wills are critical after death. Both are needed to ensure seamless protection for loved ones.
At Hedges Law, we help couples create Wills and LPAs that work together, protecting your family at every stage.
