Honey Legal

There are two types of LPA:
1. A Property and Financial Affairs. This allows your chosen Attornies to handle your bank accounts, mortgage, investments, bills and property.

2. A Health and Welfare LPA covers decisions about your health and care.

If you lose mental capacity without either LPA in place, it will then be necessary for your family to apply to the Court of Protection to obtain a deputyship to be able to deal with everyday financial matters, while being overlooked by the Court of Protection.

This is a slow and very expensive process, costing between £1,500 - £3,500, and can take unto 12 months to setup. Then it can cost upto £2,000+ per year thereafter.

If you already have an LPA in place, this will not be necessary.

Don’t worry – Honey will guide you through the LPA process.

Be in complete control in your lifetime
Our Living Trusts are specifically designed to protect your assets for you during your lifetime. They give you the peace of mind that your estate can be passed on securely and intact to your spouse, your children and their bloodline, or other named beneficiaries, after your death.
What is a Living Trust?
A Living Trust is a lot like a Will, in that you set out your wishes about your assets and your heirs.
However, a Will only becomes effective when you die and after the probate process. A Living Trust is effective while you are still alive.
You can place many assets into a Living Trust, such as property, savings and investments.
The Trustees will take control of the assets immediately, which can be very beneficial to you and your family in certain circumstances.

Keeping your family home in the family
A Property Trust can be created when a property is jointly owned. One of our experts can visit you in the comfort of your own home at your earliest convenience to recommend the products that will provide the correct protection for you, your family and your assets.
What is a *Protective Will Property Trust?
It is an enhanced Will that offers some protection for the property by ensuring that on the first death, that share is protected from interference by third parties. That share will also be protected from assessment for care home fees should the surviving owner require care in the future.
It's designed to enable joint owners to be more flexible with their share of the property enabling them to pass it to someone other than the joint owner.
If the current joint owner remarries or decides to gift their share to someone else then your share is fully protected for your beneficiaries.
This means that if the surviving owner needs residential care or gets into financial difficulties, then the first share of the property is protected and will not be assessed or at risk.
What does it mean for the surviving partner?
The surviving owner has the right to live in the property for the rest of their life. They cannot be evicted by the trustees (your chosen people who manage the Trust).
The surviving owner can sell the house if they wish to and buy another, but any profit will be split equally between them and the trustees.
The surviving owner usually controls the Trust with at least one other person, typically another family member.

Reduce the threat of third party elements
Without adequate estate planning your estate could pass outside of your choice of beneficiary. Helping you to organise a Severance of Tenancy is one way Honey can help you to protect your property for the benefit of those you care about.
What is a Severance of Tenancy?
Normally, when people buy a property together, they purchase as Joint Tenants, meaning that they both own the whole of the property. When a Severance of Tenancy occurs they become Tenants in Common instead.
Becoming Tenants in Common means you each own a percentage of the property – usually 50% each but you can define the portions into unequal shares if you wish, for example, if you have put a disproportionate amount of funds into the purchase of the property.
More often than not the application is done mutually by both parties, however this is not necessary and can be done by one party alone as long as the joint owner is notified. This is useful when divorce proceedings are considered and there is a need to avoid your share of the property transferring automatically to your spouse if you should die before the financial situation is resolved.
What are the benefits of a Severance of Tenancy?
A Protective Will Property Trust is only effective if the tenancy is severed.
If joint owners have contributed unequal funds towards the purchase of a property and the tenancy is severed into defined portions, the proceeds of sale will pass to the right beneficiary under the terms of the owner’s Will.
If a Severance hasn’t taken place and one of you dies, the property will automatically transfer to the other owner – severing the tenancy avoids the automatic transfer to the joint owner and your share can be protected for someone other than your partner.
When there is a Severance and a Protective Will Property Trust - if you die and your joint owner change their mind about their choice of beneficiaries this will not affect your decision thereby protecting your chosen beneficiaries.
No one likes to think about their spouse re-marrying after they have died but it could happen and in doing so any existing Will they had would become void. The new partner would inherit whatever your spouse owned should they predecease them, meaning your estate could pass to your spouse’s new partner and not your children. Severing a tenancy is the start of you protecting your share of your property for your loved ones.

Easing the burden
With a Funeral Plan arranged by Honey you choose the funeral you want, and then pay for the funeral director's services included in your plan at today's prices.
Why do I need a Funeral Plan?
To leave your loved ones with a pre-paid funeral, so they don’t have to bear the emotional and financial burden
To protect against rising funeral costs which have risen *7% p.a. over the last 10 years.
To have all funeral arrangements taken care of with one phone call.
You can choose the funeral you want.
How your money is protected:
No matter how much funeral costs rise you and your loved ones can rest assured you are covered.**
We work with some of the UK’s largest and most reputable funeral providers so you can have complete confidence.
Flexible payment options put you in control.
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*Source: The Guardian.
**For further details on the level of insurance, please contact me.