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Preserve it and save: how conditional exemption can protect your heritage... and your wallet
Charles Richardson
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CoP Talks: Empowering minds, protecting lives - Introduction to capacity and CoP (Part 1)
CoP Talks: Empowering minds, protecting lives - FAQ’s - What are LPAs? (Part 2)
CoP Talks: Empowering minds, protecting lives - Health and Welfare Deputyships (Part 3)
CoP Talks: Empowering minds, protecting lives - Can a person who lacks capacity get married? (Part 4)
CoP Talks: Empowering minds, protecting lives - When does a Deputy need CoP approval for legal work? (Part 5)
CoP Talks: Empowering minds, protecting lives - What is a Statutory Will? (Part 6)
CoP Talks: Empowering minds, protecting lives - Can an attorney/deputy make gifts? (Part 7)
CoP Talks: Empowering minds, protecting lives - How can a Professional Deputy assist after a Personal Injury? (Part 8)
CoP Talks: Empowering minds, protecting lives - How does a Professional Deputy manage a client’s affairs? (Part 9)
In this podcast episode, we discuss Statutory Wills, a special type of Will made by the Court of Protection for individuals who lack the mental capacity to create a standard Will themselves.
Key points covered include:
- What a Statutory Will is and how it differs from a regular Will. The crucial role it can play in ensuring an incapacitated person's estate is distributed according to their best interests.
- A Statutory Will may be needed, such as to avoid intestacy (no Will), update an existing outdated Will, or prevent potential post-death disputes.
- The application process for obtaining a Statutory Will, including the required medical evidence of lack of testamentary capacity and best interests considerations. Who can apply for a Statutory Will - interested parties like beneficiaries, deputies, or attorneys acting on the person's behalf.
- The types of provisions typically included in a Statutory Will, covering executors, funeral wishes, legacies, and residuary estate distribution.
- When possible, it is important to consult the incapacitated person about the proposed Will, as well as their family and friends.
Whether you're supporting a loved one who may require a Statutory Will, work in legal/financial services, or simply want to understand this specialised area of estate planning, this podcast offers valuable insights. Learn how Statutory Wills can protect the interests of those who can no longer make their own testamentary decisions.
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