Making a will and inheritance tax planning
P
lanning for the future is not just about making a will. When you meet with our specialist will tax and probate lawyer you will be given invaluable advice about planning for the future and ensuring your estate is distributed as you would wish.
We will draft a comprehensive will give you specialist advice on appointing executors, administration of your estate, and mitigating inheritance tax.
We pride ourselves on our professionalism, confidentiality and efficiency. We will do our best to ensure that your will and any other paperwork is prepared in a timely manner especially if you are planning to travel in the near future or if you are currently receiving medical treatment.
For an additional fee we would be willing to make home visits.
Without proper estate planning your estate to be subject to an unnecessarily large tax burden on your death, money which could better be used for the care of those that you leave behind.
A spouse, civil partner, cohabitees, child, stepchild or other dependents could potentially lose out. Minors could inherit at 18 by default and only by will can you increase this age.
It is only through making a will that you can appoint guardians for a minor child and they would be appointed to care for your child/children on the event of your death on a day-to-day basis. Alternatively, it would be for the state who decides on the care of your child.
Carrying wishes in your head and telling your friends and family of your proposed wishes is a recipe for future litigation.
Make a will and mitigate inheritance tax, care home costs and avoid misunderstandings.
Lasting Power of Attorney
Property and Financial LPA
W
e recommend having an LPA drawn up whilst you are physically and mentally able to do so in case you are unable to manage your affairs in the future. It would usually be a member of your family or a close friend that you would appoint to assist with the management of financial matters and if in the absence of an Attorney being in place, misunderstandings of the donor’s wishes can take place within the family. Also, in the event that the donor loses the mental capacity to enter into a Power of Attorney, the only route available to the family would be to apply to the Court of Protection for Guardianship/Receivership which is not only time consuming but is a lot more expensive and cumbersome.
The named persons will be assigned to deal with banks, pensions, care fees, household bills and if there is no LPA in place in the court of protection is a very expensive and time-consuming alternative.
Think of an LPA like an insurance policy. It is only there if needed.
Health and Welfare LPA
P
erhaps you or someone close to you is finding it difficult to make decisions about personal matters such as where to live or what treatment or services might be appropriate.
Health and welfare LPA deals with your personal welfare, for example, medical i.e. whether to give or refuse life-sustaining treatments and gives guidance on this/when you should go into a care home.
We can provide you with a fixed fee quote for will and an LPA