Wills, Probate & Estate Planning
Our team of highly trained and experienced professionals will provide independent, impartial advice, which is in your best interest. Our aim is to provide you with advice and information on all of your options in order to protect you, those you care about, and your estate, to avoid problems and prevent unnecessary costs, losses or expense from being incurred.
It is essential to obtain specialist advice to ensure that your wealth is well managed and that your loved ones are provided for after you are gone.
Our team is able to advise on the following issues:-
- Inheritance Tax advice
- Estate Planning
- Equity Release
- Powers of Attorney & Court of Protection:
- Lasting Powers of Attorney
- Deputyship Matters
- Advice regarding Enduring Powers of Attorney
- Statutory Wills
Wills & Estate Planning
If you die without having made a Will, your assets pass in accordance with a set of rules, known as the Intestacy Provisions, which may not reflect your actual wishes. By making a Will, you can have peace of mind that your assets will pass as you intend, to those whom you wish to benefit.
Making a Will allows you to specify whom you would like to deal with your estate in the event of your death and look after assets until any minor beneficiaries reach the age of 18. These are known as executors. You can also appoint guardians to look after minor children in the event of the parents’ death.
Many people have specific funeral wishes and these too can be included in your Will, which will also assist your executors with arranging the funeral.
Any personal possessions that you may have can be left to loved ones in your Will, as can money legacies. The bulk of your estate can be divided between friends, family or charity.
We also provide you with tax planning advice as part of our Will making service. Giving gifts to friends and family members during your lifetime can help to minimise Inheritance Tax on your death. We are able to assist you in maximising your Inheritance Tax nil-rate band and can advise about whether the new residence nil-rate band is likely to apply to your estate on your death. The new Inheritance Tax rules are quite complex and more information can be found on the gov.uk website, by clicking here.
Dealing with a loved one’s estate after their death can be an extremely overwhelming and upsetting task. We can assist personal representatives (those appointed as executors in a Will or who are entitled to obtain the grant under the Intestacy Provisions if there is no Will) with obtaining probate in an efficient and sensitive manner.
Obtaining probate (or letters of administration if there is no Will) involves the following:-
- Ascertaining whether the deceased made a valid Will before their death;
- Gathering information about the value of the deceased’s estate at the date of their death;
- Completing and submitting an Inheritance Tax return and paying the Inheritance Tax, if any;
- Collecting the assets of the estate on receipt of the grant and settling debts of the estate;
- Distributing the estate in accordance with the Will or Intestacy Provisions.
We can guide personal representatives through the probate process and advise them about their duties and responsibilities. We are also able to assist with estates that have international elements.
Please use the following link for more information from the gov.uk website, by clicking here.
For further information about Wills, Probate and Estate Planning please contact Outi Hubbard or Sarah Ellis.
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