When we are drawing up Wills for clients who have children and grandchildren, we find that most of our clients want to benefit their family, and if possible pay as little Inheritance Tax as they legally can, so that future generations can benefit from the value of their property and their life savings.

Thinking and talking about what would happen if you lost your mental capacity to make decisions about your property and financial affairs and health and welfare can be very uncomfortable.  However, it is far more important to think about how much worse the situation would be for you if you suffered a stroke or was involved in a serious accident or had dementia without making LPAs first.

Life used to be less complicated when passing on such assets as photographs, CDs, DVDs and books.  Notebooks and diaries filled your ideas and thoughts. These items were normally held in physical form and distributed to family and friends or in accordance with a person’s wishes when they died.

Lasting powers of attorney (LPAs) allow you to appoint someone you trust to look after your affairs in the event that you no longer have the capacity to do so. Most people appoint their loved ones.

The Duke of Westminster died on 9 August 2016 with his title passing to his son, Hugh.  The estimated value of land owned by the Grosvenor family is on the region of around £9 billion.