What does the Wills, Trusts and Probate service involve?
Broadly speaking, it covers the legal processes by which a person's property and possessions are protected as far as possible during their life, and then distributed after their death - including: . Preparation of wills
. Administration of estates
. Advice about setting up trusts
. Preparing powers of attorney - including enduring powers of attorney
. Preparing deeds of variation to change the way an estate is divided after death
. Tax planning, including inheritance tax and capital gains tax planning
. Court of Protection matters - including receivership applications to protect the assets of incapable persons
. Advising business people on the most tax efficient method of disposing of their business interests
. Advising on Will disputes and potentially contentious estate matters
Why do I need a will?
If you don't make a will all your wishes can be ignored or wilfully misunderstood. It's simply not enough to express what you have in mind informally. A document lacking the legally binding wording, format and framework of a properly constructed will is at best open to interpretations contrary to your wishes. At worst it might not be legally binding at all.
What exactly is a will?
A legally binding document that specifies exactly what you want to happen to your money and property after your death. It sets out your arrangements for the care of your children, allows you to make provisions for your dependants, bequests to family, friends and charities and details the arrangements for your funeral. So it's vitally important that you get it right!
Reassurance and trust in trying times
Our experienced and sympathetic team of advisors never forget the great import and personal significance of your final wishes - and they're here to help you tailor your will to suit your particular circumstances. That might include using appropriate will trusts for a |
variety of purposes including Inheritance Tax Planning and the protection of vulnerable or minor beneficiaries, for example.
Your family will find our team's support invaluable at the time of bereavement and, if you wish, we can also act as your executors, administering your estate in a consummately professional yet sensitive manner while shielding your family from the labyrinth of legal issues that arise when a person dies.
Planning ahead - for reassurance in retirement and old age
Financial security in retirement's rarely something you can leave to chance - and many of our clients find it reassuring to use us as a 'family solicitor'. That role extends beyond drafting wills to the provision of clear and impartial advice on how best to provide for your own and your dependants' future.
That includes advice on Inheritance Tax and Capital Gains Tax, in life and on death, with special emphasis on the preparation of Tax Planning Wills designed to reduce the Inheritance Tax liability of clients whose assets exceed the Inheritance Tax threshold. It may also involve drafting and setting up family trusts and powers of attorney so that your chosen representatives can make decisions and act for you if you become unable to do so.
We can also advise on the funding of residential nursing care. A question frequently on our clients' lips is: Can I protect my home if I need residential nursing care? Whilst this is a complex area, with careful planning we can in many instances help you achieve a high degree of asset protection, providing both security and peace of mind for the future.
Your peace of mind comes first
Of course, no one enjoys thinking about the end of their life or dwelling on potential infirmity - but you'll find our Wills, Probate and Trusts team easy and comfortable to talk to about the most delicate of matters and you're welcome to do so at our offices or in your own home.
To begin planning ahead for peace of mind, contact David Bird or Eileen Ismay, Partners in the Wills, Trust and Probate Department. |