Wills
Unbelievably, over 70% of the UK population does not have a current Will that is an accurate reflection of their financial circumstances and their personal choices at the time of their death. Making a Will creates certainty, reduces worry and gives the peace of mind of knowing exactly how a persons money, property and possessions will be dealt with after their death.A Will guides those who are left behind and saves worry and heartache at a time of great emotional stress. Making a Will is usually the first step to take in structuring cleints' affairs in order to minimise their liability for Inheritance Tax.
Our services include:
- Preparation of Wills, trusts and deeds
- Preparation of enduring powers of attorney
- Reviewing and amending existing Wills
- Winding up and distributing estates
Probate and Estate Administration
When someone dies their "estate" has to be sorted out. A person's estate is considered to be made up of the money, property and any possessions they had at the time of their death. The process of Probate involves collecting any money that is owed, settling any debts due (including outstanding taxes) and dividing the estate amongst the respective beneficiaries.All assets (including property) in an estate will remain frozen until the Probate Registry gives the authority (via a document know as a Grant of Representation) to the individual(s) nominated in the Will, the "Executor". If there is no Will then the most appropriate person in the circumstances will take on this role.
If there is a Will then the estate will pass to the people named in it as beneficiaries. If there is no Will certain rules known as the “Rules of Intestacy” will apply.
Whether acting for an Executor or the next of kin, we can provide practical guidance to help deal with the administration of an estate. We can help to ascertain the size of an estate for Probate and Inheritance Tax purposes. We can prepare an application for the Grant of Representation and help with lodging the required forms with the relevant organisations to collect monies due to the estate and settle any outstanding debts.
We can also arrange the transfer or sale of any shares and work with our residential property team to handle the sale of any property or land owned by the deceased.
