WHAT WE DO
WHAT WE DO
WILLS
Your Will states what should happen to your money, possessions and property after you die (all these things together are called your ‘estate’). Whatever your age it is important that you make a Will. Making a Will enables you to do many vital things including:
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Specify how your estate is distributed on your death
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Protect assets for the benefit of children (including children from a previous relationship) and appoint a guardian for children under 18
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Help protect your estate from a claim
If you already have a Will, it is essential to obtain advice to ensure your Will reflects your current wishes.
Making a Will can also bring significant peace of mind.
Please contact us to arrange a free initial telephone consultation.
PROBATE AND ESTATE ADMINISTRATION
Probate and Estate Administration is the process of dealing with the estate of someone who has died.
Obtaining professional support is really important during this process:
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Probate and Estate Administration is often complex, involving different types of taxation (such as Inheritance Tax, Income Tax and Capital Gains Tax), different assets, and numerous third parties
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If any mistakes are made, there can be significant costs and penalties (such as from HMRC). The personal representative (called the executor where there is a Will) may be held personally liable for any mistakes
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It is often a very difficult time emotionally for the family. Administering an estate involves completing difficult tasks at an upsetting time
Please contact us to arrange a free initial telephone consultation.
POWERS OF ATTORNEY
A Lasting Power of Attorney (LPA) is a legal document that lets you appoint one or more people (known as ‘Attorneys’) to help you make decisions or to make decisions on your behalf. There are two types: Property and Financial Affairs LPA; and Health and Welfare LPA. Creating these documents is important:
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You have more control over what happens to you if you lose mental capacity
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It is easier for your loved ones to help you
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If you do not create these documents and lose mental capacity in the future a Court of Protection may have to be made on your behalf (this is a costly and lengthy process)
We can also assist you if you would like to create an 'ordinary' power of attorney or if you need to register an 'Enduring Power of Attorney'.
Please contact us to arrange a free initial telephone consultation.
COURT OF PROTECTION
If someone close to you lacks the mental capacity to manage their own affairs, we can provide practical help and advice.
If the person affected does not have an LPA (please see the section on Powers of Attorney) a person such as a family member or friend may need to apply to the Court of Protection to be appointed as a person to make decisions on your behalf (a 'deputy') or ask the Court to make a decision. Such an application may also need to be made if the matter is beyond the authority conferred by an LPA.
Please contact us to arrange a free initial telephone consultation.
TRUSTS
A trust involves one or more people (each a ‘trustee’) holding and managing assets for the benefit of another person (each a ‘beneficiary’).
Trusts can be set up during your lifetime or in your Will.
Trusts can be created for a number of reasons, such as:
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To hold assets until a beneficiary is of a suitable age to receive outright
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To provide for a vulnerable loved one
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To provide for a partner whilst preserving assets for children (including, for example, children from a previous relationship)
Please contact us to arrange a free initial telephone consultation.
INHERITANCE TAX
Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who has died.
We are able to advise you in relation to numerous Inheritance Tax Planning aspects including:
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Inheritance Tax allowances, exemptions and reliefs
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Making gifts
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Creating Trusts
Please contact us to arrange a free initial telephone consultation.
