It is essential to plan ahead for the future rather than leave things to chance and we offer a range of legal services that you should consider. These include Lasting Powers of Attorney and Wills with Inheritance Tax Planning plus measures to protect your property against the possible payment of care home fees.
We also understand the difficulties faced in times of bereavement and are sympathetic to the needs of our clients. We can guide you through the whole process of administering an Estate efficiently and professionally and we can tailor our services to suit your specific requirements.
Make a Will
Nobody wants to contemplate their own mortality, but it is a certainty that, at some point, we will all die.
A Will is a legal declaration of how you wish to dispose of your property, assets and personal belongings following your death. It can avoid unnecessary arguments amongst family members that all too often arise when a deceased’s person’s wishes are unclear and so it saves time and expense.
Writing a Will also allows you the opportunity to appoint your own choice of Personal Representatives, legal Guardians for minor children, more efficiently deal with any business assets and reduce the amount of Inheritance Tax your estate will pay, or even eliminate it entirely.
If you die without a Will, your Estate will pass in accordance with the “Intestacy Rules”. These rules set out who is entitled to inherit and, as you can imagine, they are unlikely to divide your assets in the way you would have chosen or even expect.
Do not assume that without a Will your spouse will automatically get everything. This is a myth, and it depends on the value and size of your estate. Also, if you do not make a Will then your partner / co-habitee stands to inherit nothing under these rules.
It is usually very quick and inexpensive to put a Will in place and gives you and your family peace of mind.
Probate and Estate Administration
At G M Wilson we appreciate that dealing with the administration of an Estate can be an upsetting and daunting task for the Personal Representatives. We can offer as much or as little help and assistance as the Executors or Administrators require.
Some clients will ask us to deal solely with an application for the Court Order known as a Grant of Representation (Probate when there is a Will and Letters of Administration without a Will) from the Probate Registry on their behalf. We do offer fixed fees for this work.
Alternatively, some Personal Representatives ask us to deal with the entire Estate including the Grant application, dealing with Inheritance Tax issues and the whole administration process. We will always give you an individual cost and time estimate at the start of the matter which will take account of the specific circumstances of your case.
G M Wilson Solicitors has over fifty years’ experience in this private client sector and we believe in the importance of maintaining quality standards and personal service in a friendly way and at a realistic price.
Contact us for further details and to take control of your future.
Consider a Lasting Power of Attorney (LPA)
It is an unpalatable thought to consider that we might, at some time, be unable to deal with our own property and finances or make decisions about our welfare and health care needs, either through ill health or mental incapacity. An LPA is a legal document that gives you the opportunity to appoint a person you trust to make these decisions for you.
There are two sorts of LPA.
A Financial Decisions LPA is used for running bank and savings accounts, making or selling investments, paying bills and buying or selling your house.
A Health and Care Decisions LPA covers decisions about your health and wellbeing, including healthcare and medical treatment, where you live, diet, daily routine, and life sustaining treatment.
If, for whatever reason, you do need someone to deal with your affairs, you have lost your mental capacity and there is no LPA in place, then a relative or other close individual will have to make an application to the Court of Protection on your behalf. This is an expensive and lengthy process and during this time, your finances can be severely damaged. Also, the Court appointed person may not be the individual that you would have chosen to appoint.
Contact Phillipa Hulse for more information.
Give us a call to discuss this service further