Areas of Law
Wills, Trusts & Probates
The importance of making a will and inheritance tax planning cannot be over stressed. In some circumstances as much as £100,000 may be saved in inheritance tax. Each will is tailor-made taking into consideration personal financial circumstances, family and commitments and the possible incidence of taxation and in particular inheritance tax.
After a death it is important to those who are left behind that the estate is administered with sympathy as well as with efficiency. It involves obtaining valuations of all of the assets of the estate, determining the tax liability, applying for the Grant of Probate, and then with the benefit of that Grant gathering in the assets of the estate, administering them according to the will. In some cases a Trust may arise that could last for many years. It will normally require the advice and assistance of a solicitor and in many cases a skilled financial adviser too.
In dealing with the personal affairs of clients it is appropriate to mention powers of attorney and Court of Protection Orders. These are normally granted to enable relatives, friends or professional advisers to administer the affairs of elderly or infirm persons who, for whatever reason, are unwilling or unable to manage their own affairs.