Estate Planning

Estate Planning in Peterborough, Market Deeping and Bourne

Make clear arrangements for your future and the people who matter to you.

Estate Planning brings together decisions about your property, money, personal wishes and family responsibilities. It helps you consider who should inherit your assets, who could make decisions if you needed support, and what arrangements may be appropriate for your circumstances.

Liberty Estate Planning provides practical advice for individuals and families across Peterborough and the surrounding areas. We offer appointments at our Market Deeping and Bourne offices, with remote appointments also available.

Discuss your Estate Planning with us

What is Estate Planning?

Estate Planning is the process of organising your affairs for later life and deciding how your assets should be dealt with after your death.

Your estate can include your home, savings, investments, personal belongings and business interests. Planning also involves the people connected to those assets: who you want to provide for, who you trust to carry out your wishes, and whether anyone may need additional support.

Depending on your circumstances, your plan may include a Will, Lasting Powers of Attorney, Trust arrangements and Inheritance Tax advice. Some people need straightforward documents, while others need more detailed planning.

The aim is to create arrangements that work together and reflect your wishes.

What does our Estate Planning service include?

We start with your circumstances and priorities, then explain which areas of planning may be relevant to you.

Making or updating your Will

Your Will records how you want your estate to be distributed after your death. It can also name Executors to deal with your affairs and guardians for children.

We can help you consider your beneficiaries, family circumstances and any specific gifts or arrangements you want to include. If you already have a Will, we can discuss whether it still reflects your wishes.

Find out about Will Writing.

Arranging Lasting Powers of Attorney

Lasting Powers of Attorney allow you to appoint trusted people to make certain decisions on your behalf.

There are separate documents for property and financial affairs and for health and welfare. Considering these alongside your Will helps you plan for support during your lifetime as well as arrangements after death.

Read about Lasting Powers of Attorney.

Considering Trusts and family circumstances

A Trust may be appropriate where assets need to be held or managed for someone else. This might involve providing for children, supporting a vulnerable beneficiary or balancing the needs of a partner and children from an earlier relationship.

Trusts have different purposes, responsibilities and tax implications. We can discuss whether Trust Planning is relevant to your circumstances and explain the options.

Explore Trust Planning.

Understanding Inheritance Tax considerations

Inheritance Tax may affect what passes to your beneficiaries. The position depends on factors such as the value of your estate, who inherits and which allowances or exemptions apply.

We can help you consider Inheritance Tax as part of your wider planning. Any proposed arrangements should take account of your own financial needs as well as your wishes for future beneficiaries.

Read about Inheritance Tax Planning.

Planning for later life

Your priorities may include future care needs, support with financial decisions or making important information easier for your family to find.

We can discuss how these concerns fit into your Estate Planning and whether you would benefit from reviewing your existing arrangements.

Find out about Long Term Care Planning.

Who can benefit from Estate Planning?

Estate Planning can be useful at many stages of life. You do not need a large estate to benefit from making your wishes clear.

It may be particularly relevant if you:

• Own a home or have savings you want to pass on.
• Have children or other people who depend on you.
• Are unmarried and want to provide for your partner.
• Have children from a previous relationship.
• Want to support a vulnerable family member.
• Are approaching retirement or considering future care needs.
• Have received an inheritance or experienced a significant financial change.
• Have an existing Will that no longer reflects your circumstances.

You may also simply want to understand what you already have in place and whether anything needs attention.

Planning for couples and blended families

Couples do not always have identical needs, even when they share a home and finances.

You may want to provide for each other while also considering children from previous relationships, other dependants or different wishes about inheritance.

We take time to understand who you want to provide for and what you want your arrangements to achieve. This gives us a starting point for discussing suitable Wills, any relevant Trust options and the people you would choose to act on your behalf.

How to get started with Estate Planning

1. Tell us about your circumstances

Contact us to arrange a conversation about your family, existing arrangements and the matters you would like to address.

You do not need to arrive with a finished plan or know which documents you need.

2. Gather the information you already have

Useful information may include:

• Copies of existing Wills, LPAs or Trust documents.
• A broad outline of your property, savings and other assets.
• Details of mortgages or other significant liabilities.
• The names of people you would like to provide for.
• Any particular concerns or questions.

An initial overview is a helpful starting point. We can explain what further information is needed.

3. Consider the advice and proposed work

We explain the relevant options, the work recommended and the associated fees so you can decide how to proceed.

Where new Wills are required, our advice and recommendations are set out with our Terms of Business. Drafting begins once those terms have been signed.

4. Review and complete your arrangements

You have the opportunity to review drafted documents and raise questions before signing. We explain the completion requirements for the work being undertaken.

5. Keep your plan under review

Your arrangements should continue to reflect your circumstances. Let us know when significant changes occur so we can discuss whether an update is needed.

How much does Estate Planning cost?

The cost depends on the advice and documents you need.

For some clients, the work may involve a straightforward Will or Lasting Powers of Attorney. Other circumstances may require Trust Planning or more detailed advice.

Our price list sets out fees for common services. We will explain the scope and applicable costs before you decide to proceed.

View our Estate Planning prices.

Frequently asked questions

Is Estate Planning the same as making a Will?

A Will is an important part of Estate Planning, but the wider process also considers arrangements during your lifetime. This may include Lasting Powers of Attorney, Trusts and how your existing documents work together.

Do I need Estate Planning if my estate is modest?

It can still be helpful. Decisions about who should inherit, who should act as your Executor and who could support you with important decisions matter regardless of the size of your estate.

Can you review arrangements I already have?

Yes. Bring details of your existing documents and explain what has changed or what concerns you. We can discuss whether your current arrangements still meet your needs and what work may be appropriate.

Will I need a Trust?

Not necessarily. A Trust is one possible planning option, and its suitability depends on your circumstances. We can explain why one might be considered, together with the responsibilities and implications involved.

When should I review my Estate Planning?

It is sensible to review your arrangements after significant changes, such as marriage, separation, divorce, the arrival of children or grandchildren, a bereavement or a substantial change in your assets. You should also review them periodically, even if your circumstances appear similar.

Can I have a remote appointment?

Yes. Remote appointments are available, alongside appointments at our Market Deeping and Bourne offices. Contact us to discuss which arrangement suits you and the advice you need.