Wills & Probate
The department is very active in the preparation of Wills for clients covering the most basic of needs, to more sophisticated Wills, including Inheritance Tax planning, for senior business figures and high profile figures from the business, entertainment and sporting world.
Estate and Inheritance Tax planning is an area of advice required by growing numbers of people particularly as a result of property inflation over recent years as well as covering the needs of individual business people. With the right type of planning, it is often possible to save considerable sums being paid in Inheritance Tax. Since the Civil Partnership Act 2004, civil partners have been given the same tax saving opportunities as heterosexual married couples.
The department also deals with advising and preparing Powers of Attorney which give an authorised person the right to act for an individual in relation to their financial affairs and to continue to do so should the individual become mentally incapable. Also the department advises in relation to other Court of Protection related matters. The Mental Capacity Act 2005 was implemented in October 2007 introducing major changes in relation to both Powers of Attorney and the appointment of representatives for mental patients.
There can frequently be complications that arise because of family disputes, challenges over the validity of a Will, challenges over interpretation of a Will, claims against the estate etc, which can result in executors being dragged into litigation.
If there is no Will, the intestacy rules are complicated, and can result on the estate being distributed to people the deceased never intended to benefit.
It must be emphasised that becoming an executor carries responsibilities, and we would urge anyone seeking to obtain a grant of representation, to seek professional advice.
If you wish to discuss your matte (or the making of a Will) without obligation, please telephone to speak to one of our STEP accredited solicitors on 0161 827 1800.