This has become for many a very onerous tax.  With careful planning much can be done to mitigate the tax bill.  We can discuss how appropriate such planning is for you. There are several schemes that may be appropriate for the Client's individual circumstances and these will be fully explored and discussed in depth with the Client to ensure that the correct course of action is taken. The Government has recently amended the Inheritance Tax Rules relating to married couples, which may result in Wills prepared some years ago having to be amended to take advantage of the latest tax-planning schemes. It is very important for any Wills that involve an element of tax-planning to be reviewed every few years, especially in the present economic climate.

 

It is possible to appoint in advance someone to deal with your financial matters even when you are becoming mentally incapable of handling your own affairs.  We will be happy to survey your choices and decide with you the best way forward.

An extremely important change occurred on 1^st October 2007; the replacement of Enduring Powers of Attorney by Lasting Powers. The new regime now in place involves a complex and expensive procedure. Clients have to set-up a Property and Affairs Lasting Power and / or a Personal Welfare Lasting Power. In this latter case, a new concept is introduced whereby the Attorney will be permited by the individual creating the Power to decide when and if medication to sustain the life of the individual should be continued. Lasting Powers require registration almost immediately in order to be effective. There have been relatively few Lasting Powers created so far, but it is inevitable that these will become more common. It is vitally important to discuss the creation of these Powers sooner rather than later and again, if the Client prefers, a home visit can be arranged. 

 

Dealing with someone's estate when they die can be very demanding particularly for family and friends.  This whole area of work has become increasingly complex due to the range of financial products often used by people and also the nature of the inheritance tax regime.  It is just so easy for those not experienced to miss some important aspects in this process. Recently there have been several reports in the press of how delays in the Probate process can affect people and their expectations. Clients will no doubt have read in the national press over the last year, almost on a daily basis, the increasing number of cases that come before the courts where Wills are disputed by either family members or other disappointed beneficiaries. It is often overlooked by Executors that, should they decide to deal with the Probate and administration of an estate themselves without seeking professional advice and assistance, they can be held personally liable to various classes of claimants should either the Will or the administration be disputed in the courts. It is even more important therefore these days to seek specialist professional assistance in these matters. The whole procedure is fully explained in detail at the outset of each matter and, as far as possible, a time estimate is given so as to avoid disappointments. As required by the Solicitors Regulatory Authority, we will always provide an estimate of the probable costs involved when instructions are first taken, and this is updated on a regular basis as the matter proceeds. We will be pleased to work with you to seek to implement the wishes of the person who has died.

 

These structures are used in a variety of different ways and we are happy to advise on either their setting up, their implementation or their closure. This is a complex area of law and our specialist Solicitor, Andrew, would be happy to advise on each individual case. As before, a home visit can be arranged if desired.