Our speaker was Anna Boucher, Senior associate from the Burnside Partnership who are based at Combe Mill - Anna had been headhunted by our Chair, Sue, who had asked if she'd do a talk for us.

Anna chose to use our microphone "Rock Star" style (hand held) and she certainly proved to be a star, her talk was very interesting and relevant - she started off by asking for some "shows of hands" .... Who here has a Will?(lots of hands); How many of them are less than 5 years old? (Not so many) and Who has a Power of Attorney? (quite a few).

Anna explained that setting up these documents is a bit like getting a made to measure suit - careful attention to the individual's circumstances is needed to get the best outcome.

Simple, and Mirror Wills are possible, but are rarely the best option. Wills are best tailored to individuals, and there is a lot to consider - they need to be carefully drafted so that they are clear, unambiguous and less likely to be contested in the future.

Anna mentioned that there can also be a "Letter of Wishes" that is subordinate to the Will, explaining points, and making specific requests about all sorts of things that need not be in the Will - perhaps about funeral arrangements - music, dress code, Flowers / No Flowers, favourite Charity for donations, but more, that a particular person should receive (or not receive) a particular item, and so on. These can be hand written but also could be professionally drafted.

Anna spoke about the two types of Power of Attorney - how useful and important they can be. They can be done using forms downloaded from the web https://www.gov.uk/power-of-attorney/make-lasting-power, this can be free but they MUST be registered and there is a fee to do that - around £100 each. Or of course you can employ an expert and be confident that the process has been done correctly.

Selecting the Attorney is important - and different people may be required - for the "Property and Finance Power of Attorney", you 'll want someone who has a good business head and able to record their actions, and are able to withstand "requests" and perhaps criticism from family members who do not agree with their decisions. But for the "Health and Welfare Lasting Power of Attorney" you'll want someone who knows you well and can make decisions about what you would like, for instance: medication, clothes to wear, food to eat, and so much more. "Backup" Attorneys can be appointed too - a couple of people named so if one is unable to fulfil the role, there are others.

Anna emphasised that doing all this is not a morbid or depressing business, and generally there's a great sense of relief when its all in place - "job done, get on with life" knowing that your wishes are known and will be fulfilled when the inevitable happens.

She also said that it is important to get on with it - don't wait till there are symptoms or till its needed, as you may not get warning! The alternatives should there not be Powers of Attorney in place are expensive, slow and cumbersome, involving the Courts appointing a "Deputy" who needs to work under the Court's direction. The Rules of Intestacy may well not reflect your intentions, or protect your assets in the way that you would like.

Anna also spoke about Trusts, and how common and useful they are - historically they can be linked back to the Crusades! "Will Trusts" protect the Estate and may also have some Inheritance Tax Benefits. They do need to be carefully set up and professional advice and assistance is more or less essential to get it right.

Inheritance Tax was mentioned, different rates and that Lifetime Gifts can be included in the IHT calculation.