Wills, Probate and Trusts
Whether you need advice on drafting a will or have been nominated as a personal representative and would like to understand more about your legal obligations or entitlements, we are here to help you every step of the way,
Estate planning is the preparation of tasks that serve to manage an individual's asset base in the event of their incapacitation or death.
The planning includes the bequest of assets to heirs and the settlement of estate taxes. Most estate plans are set up with the help of a solicitor experienced in estate law.
Setting up a trust allows you to make a gift to the next generation and protect your capital.
There are various types of trust that let you gift funds or assets to beneficiaries during your lifetime and our experts will help you to decide the most effective option for you.
INHERITANCE TAX PLANNING
Inheritance tax is the tax levied on your estate (in other words your property, money and possessions) when you die.
Contrary to what you might think, the vast majority of estates aren't impacted by inheritance tax, which is also known as IHT.
PROBATE & ESTATE ADMINISTRATION
Probate is the term used to deal with the legal process of dealing with a person's estate after their death.
We can take the burden off family members in dealing with the necessary legal procedures involved in administering a person's estate in the UK.
For the majority of people, their home is their main asset and consequently, their main concern is how best they can protect it for theirs and their loved one’s future.
Currently, anybody who needs to be cared for in a residential home with more than £23,250 in assets is required to fund their own care. Due to the high cost of residential care, some may be required to sell their property to release a large sum of capital.
DEEDS OF VARIATION
A Deed of Variation is a document that allows beneficiaries named in a Will to make changes to the distribution of an estate. Importantly, it allows existing beneficiaries to add new beneficiaries to an estate.
It also allows them to alter the distribution of an estate between themselves
Wills and Costings
Most people would like to ensure that their wishes are followed upon their death.
By making a Will you can prescribe who you will benefit from your estate and various non financial matters too. For example, your Will can appoint guardians for your children, stipulate how your animals are to be cared for and record your funeral wishes.
We consider your tax position and any care charge planning you may require when making your Will.
We are happy to talk to you about your requirements and we offer a free 20-minute appointment prior to taking your instructions. Please call in and have a chat with us.
The costs of our services vary according to the complexity and type of Will being worked on. Here are our standard fees, quoted excluding VAT.
Single Will from £225
Mirror Wills from £350 (pair)
Codicil from £125 (each)
Flexible Life Interest Trust Will from £450 (single)
Flexible Life Interest Trust Wills from £650 (pair)
Discretionary Trust Will from £495 (single)
Discretionary Trust Wills from £695 (pair)
Tax planning Wills from £950 (pair)