People are living longer than ever, so the need to protect your assets for you and future generations is vital. Contacting a solicitor means you can get the help you need with estate planning, inheritance tax and finalising your will.
Our team of probate specialists provide advice around settling and administrating estates in a sensitive and understanding manner and can establish whether it is necessary to obtain a Grant of Probate or Letters of Administration to allow assets to be collected and distributed in accordance with the wishes of the deceased.
Where appropriate, the service includes tax saving advice to ensure the estate is passed on to the beneficiaries in as efficient a manner as possible.
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Probate and administration of estates on death
Wills, Probate, Tax & Trusts
Inheritance tax advice
House price inflation means many homeowners fall into the inheritance tax net and, with more people buying second homes in the UK or abroad, there is an increased need to use specialist advice to protect your estate.
Many of us will now be affected by Inheritance Tax, as a result of house price inflation. The threshold for Inheritance Tax is currently set at £325,000 for the 2018/2019 tax year and incurs a flat rate tax at 40%, payable on the value of the estate that exceeds the threshold figure.
A wide range of tax planning measures can be taken to reduce the potential liability for Inheritance Tax. Our experts can advise you on the best options for your situation.
Trusts provide considerable scope to pass on assets or reduce tax liability by placing the asset outside of your estate. We can act as trustees on your behalf or draft trust documentation to place the trusteeship with your nominated individuals.
Our specialist practitioners will advise how these documents can be best used to support your circumstances and will draft them in accordance with your wishes.
The process for drawing up a will is an action that provides you with the knowledge that, in the event of your death, your wishes will be acted on promptly and in a timely manner. It also ensures that the distribution of assets can be undertaken quickly and efficiently to provide security for your family.
Our wills solicitors and experts can advise on the drafting and updating of wills to ensure that, as your circumstances change, your will continues to reflect your wishes.
Power of attorney
Powers of attorney and lasting powers of attorney allow you to place the day-to-day administration of your finances with an attorney if your health is poor or your mental faculty prohibits you from attending to financial affairs. A lasting power of attorney provides the flexibility to continue to deal with matters while you are able or willing to do so.