It is important to make a Will and keep it up-to-date, to ensure that your money and possessions are allocated according to your wishes, to dictate who will look after any children you have and to inform people of the funeral arrangements you want. Failure to leave a Will can mean that family and friends have to make difficult decisions on your behalf when they are unsure of your wishes. Once you have made your Will store it in a safe place and inform your next of kin of its whereabouts to avoid any delay or anxiety.
Free Will Month
Will Aid is a UK wide scheme, which runs every November, to offer free wills to people of any age. Will Aid teams up with over 1,000 solicitors to provide basic wills, and whilst there is no set fee it is hoped that you make a charitable donation in return. Suggested donations are around £75 for a single will, £110 for a couple, and £40 for an amendment – much less than it would normally cost. For more information on the scheme, and to find a participating solicitor, visit their website: www.willaid.org.uk.
Power of Attorney
A Power of Attorney is a legal document whereby one person gives another person/persons the power to act on his or her behalf with regard to his or her health, welfare and/or financial decisions. The Power of Attorney can be limited to certain tasks and for a limited time period, or can be put in place for the future in case they become unable to make these decisions for themselves in the event of, say, accident, injury or absence on deployment.
Have you appointed a Power of Attorney? Click here for information and advice on the subject.
Exemption from Inheritance Tax for Fallen Personnel
Did you know that there is a statute in place that provides a complete and unlimited exemption from inheritance tax for members of the Armed Forces, and former members, where active service was a contributory factor in their death, whenever it occurred?
The exemption is outlined in section 154 of the Inheritance Tax Act which is referred to in the literature of the Ministry of Defence (MOD) and Her Majesty’s Revenue & Customs (HMRC).
If you would like any more information on this matter please contact the Joint Casualty and Compassionate Centre (JCCC) on: 01452 519 951.