Legal News | 6.04.23
For the love of… getting your affairs in order
Paul O’Grady died last week and he is the inspiration for this week’s newsletter brought to you by Emma Tandy, a solicitor in Wansbroughs’ Private Client team.
Paul O’Grady’s multi-award winning reality documentary series ‘For the Love of Dogs’ highlighted his passion for his four-legged friends. And, although less well known, Paul also housed alpacas, pigs, ducks and various other animals on his farm.
It is important consider your pets’ welfare if you were to die, including who will look after them and who will pay for their care, so you may wish to make some pet-friendly provisions in your Will or at least start the conversations with those close to you.
One of Paul’s companies, Buster Productions, was perhaps unsurprisingly named after one of his late dogs.
If you run a company, it is important to consider what will happen if you become unable to make decisions regarding your business interests during your lifetime.
You may therefore wish to consider having a Lasting Power of Attorney in place to offer reassurance that your business interests are taken care of if you are, for any reason, unable to act.
You may also wish to give careful consideration to your company’s articles of association and check the procedures that you have in place for when you (and any other shareholders/members/directors) die.
It has been reported that donations to Paul’s beloved Battersea Dogs and Cats Home surged past £100,000 last weekend.
Not only does financially supporting charities help them in so many ways, legacies left to UK charities are free of inheritance tax and therefore can help to reduce the size of your estate for inheritance tax purposes.
If you would like help with getting your affairs in order or wish to discuss your current arrangements, please do not hesitate to contact your usual Wansbroughs contact or email firstname.lastname@example.org.