Since joining Thomas Flavell & Sons in April 2024 to look after the marketing, I’ve been on a learning journey about everything legal. My background in marketing was primarily in food retail, so I could tell you a lot about tins of beans, and locally sourced food and drink, but not so much about the importance of having the right legal documents in place. However, I’ve learnt a lot over the last couple of years, which I thought would be useful to share in this blog.
If you did a quick survey with a group of people, they would probably tell you that it’s really important to have a Will in place, and that this would be as far as most people go. However, to ensure your estate and your family are covered for the future, this often involves several important legal documents, each serving a different purpose.
Whatever stage in life you are at, from buying your first home, raising a family, running a business to planning for retirement, having the right documents in place can provide clarity, protection and peace of mind for you and your loved ones.
Here are the key legal documents every family should consider.
As I mentioned earlier, if you asked most people what legal document they should have in place, a Will would probably be the first answer.
A Will is incredibly important because it allows you to set out what should happen to your assets after you die. It can also help you appoint guardians for your children, make things easier for your loved ones, and reduce the likelihood of family disagreements at what is already a difficult time.
One thing I've learnt since working at Thomas Flavell is that making a Will isn't necessarily a "do it once" task. Life changes, and your Will should evolve with it. Events such as getting married, getting divorced, having children, buying property or receiving an inheritance are all good reasons to review your Will and make sure it still reflects your wishes.
Did you know – a marriage automatically revokes an existing Will, unless it has been written specifically in “contemplation of marriage”.
Although not legally binding, a Letter of Wishes can sit alongside a Will and provide additional guidance to those who are dealing with your affairs.
This could include:
A Letter of Wishes can help your family understand your intentions during what may already be a difficult time for them.
Before joining Thomas Flavell, I had heard of Lasting Powers of Attorney but, if I'm honest, I thought they were something only older people needed.
It's one of the biggest misconceptions I've come across.
An LPA allows you to appoint someone you trust to make decisions on your behalf if you become unable to make those decisions yourself. This could happen later in life, but it could just as easily result from an accident or unexpected illness.
There are two types:
Property and Financial Affairs LPA
Allows someone you trust to handle matters such as:
Health and Welfare LPA
Allows decisions relating to:
Without an LPA, loved ones may face a lengthy and costly court process before they can assist with your affairs.
This was another legal document I had never really heard of before joining the firm.
If two or more people are buying a property together, particularly where one person is contributing a larger deposit than the other, a Declaration of Trust can be incredibly useful.
It records who owns what share of the property, how mortgage payments are being contributed and can set out how any future sale proceeds should be divided.
Whilst nobody goes into buying a property expecting problems later on, having these conversations and recording them properly at the outset can help avoid misunderstandings further down the line.
Clear documentation today can help prevent misunderstandings in the future.
Trusts can sometimes feel like something that only applies to the very wealthy, but that's not always the case.
Depending on your circumstances, a trust can be used to help protect assets for children, vulnerable beneficiaries or future generations. A Trust can also help manage certain inheritance tax considerations.
Every family situation is different, which is why trust planning is never a one-size-fits-all solution. However, it's another example of a legal tool that many people aren't aware of until they start discussing their wider estate planning needs.
For business owners, there can be another layer of planning to consider.
If something unexpected happened to you tomorrow, would your family know what should happen to the business? Would your fellow directors, shareholders or business partners know what your wishes were?
Documents such as shareholder agreements, partnership agreements and succession plans can help provide certainty and reduce disruption at what could otherwise be a very challenging time.
It's something many business owners put off thinking about, but having a plan in place can make all the difference.
The biggest thing I've learnt over the last couple of years is that estate planning isn't really about paperwork.
It's about making life easier for the people you care about most.
A Will is often the starting point, but it isn't always the whole picture. Documents such as LPAs, Declarations of Trust, Letters of Wishes and succession plans can all play an important role in protecting your family, your assets and your future.
The good news is that you don't need to tackle everything at once. Even taking the first step and reviewing your current arrangements can help you identify any gaps and decide what action, if any, is needed.
As someone who arrived at Thomas Flavell knowing far more about food retail than legal planning, I can confidently say I've come to understand why these documents matter. They're not really about legal jargon or complicated processes – they're about giving yourself and your loved ones peace of mind for whatever the future may bring.
Our blogs and articles are not meant to serve as legal advice for any specific issue. The author assumes no responsibility for the accuracy of the content or any consequences that may arise from relying on it.
Thomas Flavell & Sons Ltd is authorised and regulated by the Solicitors Regulation Authority as an Alternative Business Structure (SRA ID: 620030) · Registered Company in England & Wales. Registered address Church Walk, Hinckley LE10 1DN. Company No: 08882394 · VAT Reg. No: 207 0095 44. We would like to make you aware of the Online Dispute Resolution website for advice on resolving online disputes. If we refer to the term 'partner' or 'member' at any time during your matter this means a 'Director' of the company. A list of Directors is available here.
