As many clients are aware a professionally
drafted Will allows them to express their wishes and
thereby ensure that their wishes will be carried
out.
We are able to
draft clauses into a Will ensuring for example
that you:
Determine
who you would like to benefit upon your death and the extent of their
entitlement.
Decide at what age young beneficiaries are
to inherit and give advice on this matter.
Create a
trust on death to make
provision for family members.
We will
advise upon the
importance of:
Selecting
executors/trustees (the people who will
administer the estate).
The appointment of guardians for children
under 18.
2. Enduring Powers of Attorney
We can prepare and
advise on the need for an Enduring Power of
Attorney where we believe that it will benefit
you.
An enduring power of attorney is a legal
document which gives the person you nominate and
trust the right to deal with your financial affairs
should you become physically or mentally unable to
do so.
An attorney has the power to do anything you
could do yourself
3. Probate
We will administer the estate of a deceased
person and obtain the grant of probate. Essentially
this means that we prove that the executors of the
deceased's Will are entitled to act in accordance
with the instructions of the Will and that they have
the funds to distribute as directed.
We will also manage the inheritance tax
liability of the estate if it applies and advise our
clients accordingly.
4. Estate Planning
We have found that
we are increasingly being asked for advice to
minimise inheritance tax that is due on a deceased's estate.
This concern has arisen as a result of the
increase in house prices over the recent years which
has elevated many peoples estates over the threshold
at which inheritance tax becomes payable.
The current level at which inheritance tax
becomes payable is £300,000.
The tax is levied at a rate of 40% on assets
held over the payable amount.
Wills and Estate planning matters will be dealt with
by Richard Merrick or Elaine Henderson.
Probate will be dealt with by Rita Adams.
For further information or to enquire whether we can
help you please contact the office or click here to email
us with your query.
