Wills, Probate & Trusts
Many people underestimate the importance of making a Will. A properly prepared Will not only gives you peace of mind that your family and loved ones are provided for when you are gone, but ensures your estate can be administered easily by or on behalf of your loved ones during that vulnerable time. A professionally drafted Will can also provide planning for long term care to save your family paying unnecessary inheritance tax and also to preserve your assets for the benefit of your family in the most tax effective way.
When a loved one dies someone has the responsibility of administering their estate. This involves identifying and gathering in all the assets, discharging any liabilities, liaising with Her Majesty's Revenue and Customs to deal with both inheritance tax and income tax, distributing the estate to those persons entitled, whether under the terms of a Will or the laws of intestacy (where there is no Will) and establishing and administering any trusts arising under the Will. Deeds of Family Arrangement are beneficial to make the distribution of the estate inheritance tax efficient or to benefit persons other than the original beneficiary. For relatives who are grieving this can be a difficult burden at an emotional time and many families choose to seek the guidance, advice and assistance of a solicitor.
Trusts are a simple means of passing your monies on in a tax efficient manner. Primarily used to mitigate inheritance tax, trusts can also be used to manage monies left for the benefit of children, either in the event of death of both parents or where grandparents wish to leave a substantial legacy to the grandchildren. Trusts are also useful for families who want to provide for vulnerable adults who may be wayward or suffering from a disability, going through marital difficulties.
Sadly many of us have encountered family members or friends who either through age or accident become mentally incapable of managing their own affairs, either financial or welfare affairs. In these circumstances it is important to both protect and assist our loved ones either by the preparation of a Lasting Power of Attorney, or where someone has already lost their mental capacity, by an application to the Court of Protection for someone to be appointed as Deputy to deal with these affairs on their behalf. The Mental Capacity Act 2005 governs the law and procedures for applying to the Court of Protection and are complex. Roebucks have years of experience in assisting individuals in making applications to the Court of Protection and also in acting as professional Deputies and Attorneys where there is no family member or anyone else willing or able to take on that role.
Our services include: -
- Preparation of Wills
- Inheritance Tax Planning
- Trust creation and administration
- Probate
- Investment Advice Intestacy
- Lasting Powers of Attorney
- Court of Protection Applications
- Capital Taxation Advice
- Accumulation & Maintenance Trusts
- Deeds of Family Arrangement
- Home Visiting