Estate Planning in Reading & Caversham
Through our Estate Planning department, we offer professional estate planning services including will writing, trust formation and lasting power of attorney. Just like our mortgage advice, we explain everything in plain English and provide transparent, fair pricing.
Our estate planning services
Wills
A will is a legal document that sets out what happens to your assets when you die. Without a valid will, your estate will be distributed according to intestacy rules, which may not reflect your wishes. We help you create a clear, legally valid will that protects your family and ensures your assets go to the people you choose. Using Wills with Trusts can afford greater protection. You also choose guardians for your children aged under 18.
Lasting Power of Attorney (LPA)
A Lasting Power of Attorney allows you to appoint someone you trust to make decisions on your behalf. There are two types of LPA: Property and Financial Affairs LPA (for managing your finances and property) and Health and Welfare LPA (for making decisions about your medical care). We can also for POAs for Scotland.
What a Will Covers
- Who inherits your property, savings, and possessions
- Who looks after your children if they are under 18
- Who manages your estate (your executor)
- Funeral wishes
- Charitable donations
- Trust creation for greater asset and beneficiary protection
Why estate planning matters
- Once you own property, getting your estate planning in order becomes crucial
- Without a will, your property may not go to who you intend
- Without an LPA, your family may face expensive and stressful court proceedings for deputyship, if you lose capacity.
Common questions about estate planning
What happens if I die without a will?
How much does it cost to make a will?
A simple will through Templar Estate Planning typically costs £300 +VAT for a single will, or £450 +VAT for mirror wills for couples. More complex wills involving trusts or business assets cost more. This includes professional advice, drafting, and execution. While DIY wills are cheaper, mistakes can make them invalid or lead to expensive disputes after you die. Professional will writing ensures your will is legally valid and properly reflects your wishes. Whilst using Trusts also offers you more protection for your assets and could save thousands in inheritance tax.
What are mirror wills?
Mirror wills are matching wills for couples where each person leaves everything to the other, and then to the same beneficiaries (usually children) if they both die. They are called “mirror” wills because they reflect each other. Mirror wills are common for married couples or civil partners who want to ensure the surviving partner is provided for, then their children inherit. They are usually more cost-effective than two indepentantly drafted wills.
Can I write my own will?
Legally, yes, you can write your own will. However, wills must follow strict legal requirements to be valid. Common mistakes in DIY wills include: not being properly witnessed, unclear wording leading to disputes, not covering all assets, not considering tax implications, and not accounting for what happens if beneficiaries die before you. A professionally written will ensures it is legally valid and properly structured. Given what is at stake, professional help is worthwhile. At our free consultation we advise on all aspects.
What is a Lasting Power of Attorney and why do I need one?
A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint someone you trust (your “attorney”) to make decisions on your behalf if you lose mental capacity through illness, accident, or dementia. Financial LPAs can be set up to be used from registration and not just if capacity is lost. Without an LPA, your family would need to apply to the Court of Protection for Deputyshipto manage your affairs, which is expensive (£3,000+), time-consuming (typically 12-18 months), and stressful. An LPA ensures your chosen person can act immediately if needed.
What is the difference between the two types of LPA?
In England and Wales There are two types of LPA: Property and Financial Affairs LPA allows your attorney to manage your money, property, and financial affairs. This can be used as soon as it is registered (with your permission) or if you lose capacity. Health and Welfare LPA allows your attorney to make decisions about your medical treatment, care arrangements, and daily routine. This can only be used after you lose capacity. We recommend having both LPAs in place. We can also produce POAs for Scotland.
How long does it take to set up an LPA?
Who should I choose as my attorney?
Estate planning services are not regulated by the Financial Conduct Authority
The products and services promoted here are not part of The Openwork Partnership offering and The Openwork Partnership accept no responsibility for this aspect of our business
