Wills, Trusts, Probate & Estate Planning
Wills, Trusts, Probate & Estate Planning
Wills & Probate
Death is something we would rather not think about which is why over 60% of us die without ever having made a will. A well drawn will is the only way our assets pass to desired beneficiaries and the absence of a will makes life more complicated for those who are left behind. Assets may end up being left to someone completely different from whom you intended. A home made will can be a family disaster.
If you have:
• Assets exceeding £275,000
• Your own home
• Children who are minors
• Business interests such as a business or family company
• Specific funeral requirements
• Specific wishes with regard to personal possessions and family heirlooms
• Specific wishes with regard to gifts to charity, free of Inheritance Tax ( IHT )
It is imperative that you consult a professional to advise and draft your will to take advantage of provisions to save IHT ( see Estate Planning ), safeguard minor children, appoint executors to administer your estate and/or hold your property on trust for others.
When a person dies their Executors make a formal application for grant of Probate of the will to the Family Division of the High Court or if they die without having made a will grant of Letters of Administration. Before any grant is issued inheritance tax must be calculated and paid to the Capital Taxes Office and when an estate comprises of stocks, shares and investment portfolios, this is often a complex issue. It is strongly recommended that professional advice and assistance is sought in preparing the complicated IHT forms and in calculating the tax payable.
How can Game and Brill Solicitors can assist you?
We take instructions and give expert advice as qualified Trust Estate Practitioners on the drafting, preparation and execution of either simple wills or wills containing trusts and IHT avoidance provisions.
We advise on the best way of protecting your assets from IHT which is a tax that can be avoided. We manage trust funds for Trustees on an annual basis on lifetime or will settlements and can advise on variations of trusts, deeds of family arrangement and all aspects of the law affecting Trustees and Beneficiaries.
