Wills, Trusts & Estates · Estate Planning

Part of our wider Wills, Trusts & Estates services

Estate Planning Guide

Benefits of Wills, Trusts and Powers of Attorney

A will, a trust, and a lasting power of attorney are the three cornerstones of a complete estate plan. Together, they protect your assets, your family, and your wishes — both during your lifetime and after your death.

Chester-based solicitors acting across Cheshire, North Wales and throughout England and Wales. We explain every option clearly before you commit — and confirm costs in writing before any work begins.

SRA Regulated

Sensitive & Confidential

Free Initial Consultation

Chester, Cheshire & North Wales

Speak to a Solicitor Request a Callback

No obligation — talk through your options first. Costs explained clearly.

Why estate planning matters

Estate planning is not just for the wealthy or the elderly. It is the practical process of putting legal documents in place so that — whatever happens to you — your assets go to the right people, your healthcare wishes are respected, and the people you love are protected.

In England and Wales, a complete estate plan addresses two scenarios: death (covered by your will and any trusts) and incapacity (covered by your lasting powers of attorney). Most people need all three.

Your Will

Decides who inherits your estate, appoints your executor, and appoints guardians for minor children. Operates after death.

About wills

Trusts

Protects assets, controls timing of inheritance, reduces tax, and provides for vulnerable beneficiaries. Can operate during lifetime and after death.

About trusts

Lasting Power of Attorney

Appoints someone you trust to manage your finances and healthcare if you lose mental capacity. Operates during your lifetime.

About LPAs

Benefits of making a will

A will is the foundation of any estate plan. Without one, the intestacy rules under the Administration of Estates Act 1925 decide who inherits — and the outcome is often not what people intend.

You decide who inherits

Without a will, the intestacy rules decide who receives your estate — and the outcome is often not what you would have chosen. A will ensures your estate passes to the people you choose, in the proportions you specify.

You appoint your executor

Your executor manages your estate after your death — collecting assets, paying debts, and distributing what remains. Appointing someone you trust avoids disputes and delays.

You protect your home

If you own property with a partner, the way you hold it affects what happens on death. A will — combined with the right ownership structure — ensures your home passes as you intend.

You appoint guardians for children

If you have children under 18, your will is the only legal mechanism for appointing a guardian. Without one, the courts decide — and the outcome may not reflect your wishes.

You reduce the risk of disputes

A professionally drafted will is clear, unambiguous, and harder to challenge. DIY wills and online services frequently contain errors that lead to costly disputes after death.

You can reduce inheritance tax

A well-structured will — combined with trusts and lifetime planning — can significantly reduce the inheritance tax payable on your estate, preserving more for your beneficiaries.

What happens without a will?

Unmarried partners receive nothing under the intestacy rules — regardless of how long they lived together. Stepchildren are excluded entirely. Your estate is divided by a statutory formula, not your wishes. If you have minor children and no will, the courts decide who cares for them.

What happens if you die without a will

Benefits of setting up a trust

Trusts give you control over how and when your assets are distributed. They are not just for the very wealthy — trusts are used by many families to protect assets, reduce tax, and provide for vulnerable loved ones.

Asset protection

A trust can protect assets from creditors, divorce proceedings, or a beneficiary's financial difficulties. Assets held in trust are not owned outright by the beneficiary and are therefore harder to reach.

Control over timing and conditions

A trust allows you to specify when and how beneficiaries receive their inheritance — for example, at age 25, or only for education and housing costs. This is particularly useful for younger or more vulnerable beneficiaries.

Inheritance tax efficiency

Certain trusts can reduce the value of your taxable estate, lowering the inheritance tax payable on death. Discretionary trusts, life interest trusts, and nil-rate band trusts are commonly used for this purpose.

Protecting vulnerable beneficiaries

If a beneficiary has a disability, mental health condition, or is otherwise vulnerable, a trust ensures they are provided for without affecting their entitlement to means-tested benefits.

Protecting the family home

A property trust (or life interest trust) can protect your share of the family home for your children while allowing a surviving spouse or partner to continue living there.

Business and agricultural succession

Trusts are widely used in business and agricultural succession planning to ensure assets pass to the right people while maximising available reliefs such as Business Property Relief and Agricultural Property Relief.

Benefits of a lasting power of attorney

A lasting power of attorney (LPA) is one of the most important documents you can put in place — yet it is frequently overlooked until it is too late. Mental incapacity can occur at any age through accident or illness.

You choose who acts for you

An LPA lets you appoint someone you trust to manage your affairs if you lose mental capacity. Without one, your family has no automatic legal authority — even a spouse cannot access your bank account without a court order.

Avoids Court of Protection costs

Without an LPA, your family must apply to the Court of Protection for a Deputyship order — a process that typically costs £3,000–£5,000 and takes several months. An LPA costs a fraction of this and is far quicker to set up.

Your healthcare wishes are respected

A Health & Welfare LPA allows your attorney to make decisions about your medical treatment, care arrangements, and — if you choose — life-sustaining treatment. Without one, these decisions are made by doctors and social workers.

Financial affairs continue uninterrupted

A Property & Financial Affairs LPA allows your attorney to manage your bank accounts, pay your bills, deal with your property, and handle investments — keeping your financial affairs running smoothly.

You remain in control while you have capacity

An LPA only takes effect when needed. You retain full control of your affairs while you have mental capacity. A Property & Financial Affairs LPA can also be used with your consent before capacity is lost.

Peace of mind for your family

Knowing that legal arrangements are in place removes an enormous burden from your family at an already difficult time. An LPA is one of the most important gifts you can give to the people you love.

The cost of not planning

Problem	Cause	Typical consequence
Unmarried partner inherits nothing	No will — intestacy rules apply	Entire estate to relatives instead
Court of Protection Deputyship	No LPA — incapacity crisis	£3,000–£5,000+ and months of delay
Assets reach wrong beneficiaries	No trust — no control over distribution	Inheritance lost to divorce or creditors
Contested will litigation	Unclear will or DIY will errors	£10,000–£100,000+ in legal costs
Avoidable inheritance tax	No tax planning or trust structure	Up to 40% of estate above threshold

Frequently asked questions

What is the most important benefit of making a will?

The most important benefit is certainty — your estate passes to the people you choose, in the way you intend. Without a will, the intestacy rules apply, and the outcome is often not what the deceased would have wanted. Unmarried partners receive nothing under intestacy, regardless of how long they lived together.

What are the tax benefits of a trust?

Trusts can reduce inheritance tax in several ways — by removing assets from your taxable estate, by using nil-rate band trusts to preserve the threshold on first death, or by holding assets in a way that qualifies for reliefs such as Business Property Relief. The right trust structure depends on your individual circumstances and should be discussed with a specialist solicitor.

Do I need both a will and a lasting power of attorney?

Yes — they serve different purposes. A will operates after your death and deals with your estate. An LPA operates during your lifetime if you lose mental capacity. Without a will, your estate follows the intestacy rules. Without an LPA, your family must apply to the Court of Protection. You need both to be fully protected.

Can a trust protect my assets from care home fees?

This is a complex area. Placing assets into a trust specifically to avoid care home fees can be challenged by local authorities as deliberate deprivation of assets. However, there are legitimate reasons to set up a trust — such as protecting a spouse's interest in the family home — that may also have the incidental effect of ring-fencing assets. We advise on care fee planning as part of a wider estate planning review.

What happens if I lose mental capacity without an LPA?

Without an LPA, your family must apply to the Court of Protection for a Deputyship order. This process typically takes 3–6 months and costs £3,000–£5,000 or more. During that time, no one has legal authority to manage your financial affairs — banks will freeze accounts and bills may go unpaid. A Deputyship is also subject to ongoing supervision by the Court, adding further cost and complexity.

At what age should I make a will and set up an LPA?

As soon as you have assets, dependants, or a partner — regardless of age. Mental incapacity can occur at any age through accident or illness. The most common trigger for making a will is buying a property, getting married, or having children. The most common trigger for an LPA is a family member losing capacity without one. Both are best put in place before they are needed.

Related Wills, Trusts & Estates Services

Wills

Solicitor-drafted wills — single, mirror, and wills with trusts.