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Frequently asked questions (FAQs)

Estate planning is all about arranging your personal affairs in a manner that suits your wishes. Getting the correct documentation in place can feel like a daunting task, but Key are here to guide your through the entire process. Here are some answers to the most common questions that we get asked, answered without any jargon!

What happens if I don't have a Will?

If you die without a Will (intestate) your estate is automatically passed on to the appropriate person/s as defined according to the Laws of Intestacy. 

What types of LPA are available?

A health and welfare power of attorney is there to act on your behalf should you become unable to communicate or mentally incapacitated. It covers aspects of your care such as your medical care and where you live.

A property and financial affairs power of attorney deals with your money and property, and can be used when you still have full mental capacity.

You can choose to set up just one type of LPA, but in order to be fully protected you will need both kinds. 

What happens if I don't have an LPA?

Should you become unable to make decisions for yourself and you do not have an LPA, then the only way someone can take control of your property and financial affairs or health and welfare will be to go through the Court of Protection (CoP). This could make it difficult for your wishes to be carried out if you lose the capacity to express them for yourself - and even when family members are able to take control of your affairs, this process will cause them additional stress at a difficult time. 

Are there any annual fees?

There are no annual fees with our estate planning service.

Can a beneficiary be an executor?

Yes, as long as they are aged 18 or above. 

How long does the process take?

It normally takes between two to three weeks for your Will documents to be created, but we generally allow for a 28 day completion period. For an LPA, the typical turnaround time is eight weeks.

Are your estate planners qualified?

 All of our Will writers are certified members of The Society of Will Writers. This means they are qualified to set up your Will in accordance with The Society's strict Code of Practice and with the appropriate training to ensure your wishes are correctly documented.

How many attorneys can I have?

You can choose to appoint more than one attorney. We recommend that you have at least two in place should anything happen to one of your attorneys.  

What is the definition of beneficiary?

A beneficiary is someone who receives something in a Will; this could be a sum of money, some land, property or a particular item e.g. jewellery. This can be a spouse, relative, or friend as well as a charity or organisation. 

Are the Office of the Public Guardian (OPG) fees included?

Fees by the Office of the Public Guardian are charged separately and are dependent on your financial circumstances. For example, people on income support may be entitled to a discount or this service free of charge.

Key promise

Customer satisfaction is at the heart of everything we do; we pride ourselves on being independent, transparent, supportive and straightforward. We're passionate about helping you to make the most of your finances when you’re in or approaching retirement.

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