Our experienced Estate Planners collaborate with specialist partners in legal, estate, and life planning. We are well-equipped to assist independent business owners and their families. Our Estate Planners provide guidance on a wide range of matters, from crafting simple Wills to arranging funeral plans and executing intricate Inheritance Tax planning strategies.
We believe in getting to know our clients, understanding their needs, plans, and wishes before designing a solution that aligns perfectly with their objectives. Our aim is to safeguard the future for you and your family. Each year, we assist numerous individuals with legal, inheritance, and later life planning matters. Rest assured, all legal documentation is meticulously prepared, and we operate under the authorization and regulation of the Solicitors Regulation Authority.
Wills
When an individual passes away without a valid Will, the law steps in to determine the distribution of their assets. If you want to ensure that your assets are passed on to your loved ones according to your wishes, creating a Will is essential.
Crafting a comprehensive Will involves numerous considerations, especially when businesses are involved. Here are a few key factors:
Trusts can be integrated into a Will to offer protection for your home and savings, along with providing flexibility and tax advantages for your business. Concerns such as care fees, Inheritance Tax, and family relationship dynamics can significantly impact the intended inheritance.
Including a Trust in your Will can provide a valuable layer of protection and adaptability. In some cases, establishing a trust during your lifetime may be the most appropriate solution. Recommendations will be made based on your individual circumstances and objectives.
A Lasting Power of Attorney empowers you to appoint a trusted individual to make decisions regarding your health, welfare, or finances if you become incapable of doing so yourself. Mental incapacity can affect people of all ages, and accidents or illnesses can strike unexpectedly.
Without an LPA, no one can manage your finances or make critical healthcare decisions on your behalf without a court order, not even a spouse. This can be particularly problematic for business owners, where everyday business decisions, such as signing checks or making payments, may be hindered.
Many business owners choose to create separate LPAs for their business affairs and personal finances, often designating different individuals for each. With an LPA, trusted individuals can oversee financial matters and make crucial decisions, including where you should reside and whether medical procedures should be carried out.
Handling an individual’s estate after their passing involves complex legal, tax, and administrative tasks. Errors along the way can lead to personal liability for those responsible.
Our Probate and Estate Administration service assumes full responsibility for managing these tasks on your behalf. We liaise with HM Revenue & Customs, handle the sale or transfer of assets like shares or property, locate any concealed assets, contact beneficiaries, and distribute the estate in accordance with the Will (if available) and inheritance laws.