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A Life Interest Trust (LIT), also known as an Interest in Possession Trust, is a document that names one or more beneficiaries to an estate and their entitlement to an income from assets held in trust over their life time.

This person is known as the Life Tenant. If that asset is a house or property, then the Life Tenant is entitled to either the rental income on the property, if it is rented out, or to live in the property if they wish to.

David Cameron, Nick Clegg and Ed Miliband have all agreed to give one tenth of their estates to charity when they die.

In an unusual cross-party move, the three leaders have signed up to support a campaign called Legacy10 to promote charitable giving.

Lasting Power of Attorney is a document your chosen attorney/s can use on your behalf if you become incapable of dealing with your property and financial affairs

When we think about this document most of us relate this to age. We tend to think that this document is for the elderly as there is more chance of them developing dementia than someone in their 30's or 40's.

How wrong we are.

The Guardian reported in August 2011 that there are 69 million Single Parents in Britain, caring for three million children.

But what happens if the parent dies - who will look after these children? Throughout the whole of January Abbotts Wills and Probate Services will complete a for a single parent for £50 (plus VAT) at a meeting held at our offices in Hertford. This consultation will be full of advice and guidance as well as a legally binding Will at the end which will cater for all of your needs especially appointing guardians for your children.

It is an awful time when you watch the person you love slowly but surely slip away. I don't mean slip away into death but mentally slip away. They become forgetful then forget who you are, they randomly wander. This can be very distressing. This person could become a target and be financially taken advantage of.

Statistics are showing a higher number of people are living well into their 80's. However it has been stated that at least half of those who live to be 80 plus will develop some form of dementia or Alzheimer's.

To write a Will the individual (testator) must be over 18 years of age, have the required capacity and comply with the execution formalities as laid out in the Wills Act 1837.