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                             WILLS & PROBATE & TRUSTS                      

WILLS

A Will ensures that our assets go to those to whom we choose to leave them. Some people make the incorrect assumption that if they die without a Will their assets will automatically pass to their spouse or their civil partner, or even worse, their so-called ‘common law spouse’.

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A Will can offer you the security of knowing your estate will be shared between those you wish to benefit and you will know you have done what you could to make things easier for those you have left behind. Our wills are sensibly priced and we still offer free safe keeping of your wills.

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Our experienced team can advise on the following:

  • Who is suitable as executor(s)

  • What is achievable by way of split of legacies

  • How you can protect parts of your estate for certain beneficiaries

  • Whether there are any tax saving to be made

POWER OF ATTORNEY

Making a Lasting Power of Attorney is as important as making a Will.

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A Lasting Power of Attorney is a legal document which allows you to delegate certain responsibilities for day to day living that you could otherwise carry out for yourself but anticipate that in the future you may wish someone else to assist you. You choose a person you trust whilst you are fit and well and you will know, not only who will look after you if ever you become vulnerable, but also that you have done all you could to make it easier for them.

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Our experienced team can advise on the following:

  • the types of power of attorney

  • when they come onto effect

  • the legal effect of the choices you make

  • new LPA’s work in practice

  • any potential conflict between a welfare LPA and a living will

If you are trying to help someone else and they haven’t put powers of attorney in place, then we can also help when a Court of Protection application is required.

ADMINISTRATION OF ESTATES

We provide a supportive professional service for those who have to wind up the Estate. Often these are also the people who are bereaved, it is a time of grief and it can also be a stressful time, and we provide you with expert advice and assistance sensitively. Whilst dealing with the legal formalities complex issues can arise during the administration of an estate.

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Our experienced team can advise on the following:

  • What needs to be done urgently

  • Whether a grant is required

  • Whether inheritance tax will be payable

  • Explain the intestacy rules if there is no will

  • How to deal with joint assets

  • How to deal with the estate

  • What to do when somebody want to challenge the will

In England, a testator can create various types of trusts in their will to manage and distribute their assets according to their wishes. Each type of trust has its own benefits and drawbacks, and the choice of trust will depend on the specific circumstances and objectives of the testator. 

1. Bare Trusts

  • Description: The beneficiary has an absolute right to the trust property and income.

2. Life Interest Trusts

  • Description: Allows a person (the life tenant) to benefit from the trust property (e.g., live in a house or receive income) during their lifetime. After their death, the property passes to other beneficiaries (remainder beneficiaries).

3. Discretionary Trusts

  • Description: Trustees have discretion over how the trust assets are used and distributed among the beneficiaries.

4. Accumulation and Maintenance Trusts

  • Description: Allows trustees to accumulate income within the trust and use it for the maintenance, education, or benefit of the beneficiaries until they reach a specified age.

5. Disabled Persons Trusts

  • Description: Specifically designed for beneficiaries who are disabled, providing them with financial support while ensuring they remain eligible for means-tested benefits.

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6. Interest in Possession Trusts

  • Description: The beneficiary has an immediate and automatic right to the income generated by the trust assets.

7. Charitable Trusts

  • Description: Established for charitable purposes and must be exclusively for the public benefit.

8. Personal Injury Trusts

  • Description: Holds and manages compensation received from a personal injury claim separately from personal assets.

9. Family Trusts

  • Description: Used to manage and protect family assets, often across multiple generations.

10. Protective Trusts

  • Description: Provides a beneficiary with income from the trust but protects the capital from being accessed directly by the beneficiary.

TRUSTS

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