I'm changing my cryonics life insurance provider, and it seems I need a new "absolute trust" document. My IFA has found a lawyer who will draw me one up for £250
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What's the legal support for "Absolute trust" documents?
The reason a Will can work by you filling in a template is, I believe, because there's a specific set of law behind a Will which means that if you follow the correct format you don't need it done by a lawyer.
In general such statements of what you want in future or agreements of future actions can be done in various ways by lawyers, and "Will" has been special-cased with some law to support you doing it yourself. So perhaps a lack of such special casing prevents you having an "Absolute Trust" template for anyone to use?
But perhaps not and it's easy. I think you will, hahaha, have to consult a lawyer about this.
Speaking as a lawyer, I would say that you are not paying £250 for someone to change some names. You are paying for someone who is legally skilled to consider the reasons you want such a document and ensure that it meets your needs. A lot of the time I do work which is very similar to work I've done before and where 90% of the time the legal issues are completely standard. What I am really being paid for is to spot the 10% and deal with them as required.
My colleagues and I see no end of trouble caused by off-the-shelf pro forma DIY legal documents. Most of the time they work well enough but some of the time they don't, and unless you understand the underlying legal issues you are unlikely to recognise problem scenarios in advance.
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The reason a Will can work by you filling in a template is, I believe, because there's a specific set of law behind a Will which means that if you follow the correct format you don't need it done by a lawyer.
In general such statements of what you want in future or agreements of future actions can be done in various ways by lawyers, and "Will" has been special-cased with some law to support you doing it yourself. So perhaps a lack of such special casing prevents you having an "Absolute Trust" template for anyone to use?
But perhaps not and it's easy. I think you will, hahaha, have to consult a lawyer about this.
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My colleagues and I see no end of trouble caused by off-the-shelf pro forma DIY legal documents. Most of the time they work well enough but some of the time they don't, and unless you understand the underlying legal issues you are unlikely to recognise problem scenarios in advance.
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