Wills & Probate
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You should make a will to make sure your possessions and assets go to the people you want, not who the State says.
You can name your Executor, Guardians for your children and say how your funeral should be dealt with.
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If you don't make a Will it may get complicated. For example, there is no executor who can take charge and look after things straight away. If you leave a spouse and children, the spouse gets a limited amount.
If you have a will probate is an official form needed to deal with the assets. It may not be needed with small value estates. Solicitors can be appointed to obtain Probate to save the Executors the trouble of making applications in person to the Probate Registry.
Inheritance Tax may be payable if your assets
plus any gifts you made in the last 7 years total
more than £312,000 increasing by increments to
£350,000 in 2010. There are exemptions.
There are ways of minimising tax if the Will
includes a Discretionary Trust. We will be happy
to discuss your preferences and advise on the options.
On the death of a surviving spouse that estate can take advantage of double Inheritance Tax relief if the exempt part of the estate of the first spouse to die did not use that relief.
This could mean that on the second spouses death no Inheritance Tax will be paid on the first £624,000.
The cost of using us as Solicitors will be less than other institutions and may save your family a tax bill in the long run.
Lasting Powers of Attorney
Click the button below for details:
We can relieve the stress form filling and worry of the
executors by collecting the estate monies , transferring or selling any
property, paying debts and funeral expenses, dealing with the Inland
Revenue and distributing the estate in accordance with the Will of the
deceased.
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