Services
Will Writing
You don’t arrange a Will for your own benefit. You arrange a Will so that your family and loved ones can deal with your affairs with the minimum of distress. Let’s face it, losign a loved one is bad enough. Having the additional complication of dealing with matters when a Will hasn’t been put in place makes it considerably worse.
A Will is such an important document but one that many people never get round to making. Yet, a straightforward Will can take very little time to put in place and the process can be so simple.
It makes sure your estate goes where you intended it to go – and not as the Courts would decide.
One of the satisfying aspects of our job is hearing our clients say, “It was so easy, I am so glad I have arranged this at last.”
Contact us and we can put a Will in place for you. Your family will thank you for it.
Powers of Attorney
Whilst a Will is essential to streamline the settling of your estate when you pass, you shouldn’t ignore a Power of Attorney which can be invaluable when you are still alive.
Many people think that a Power of Attorney is only useful for dealing with banks, utility companies etc.
However, whilst it will help with financial affairs, even more crucially it can also help with the aspects of your welfare.
There’s a greater awareness today of conditions like Alzheimer’s and Dementia. They can strike whilst we are still young. Having a Power of Attorney in place means that you are well prepared to face these and other health situations which impinge on your ability to act for yourself.
A worry about Powers of Attorney is that you lose control. But that is not the case. Attorneys have a responsibility to act as you would yourself. And, whilst you have capacity, they can only act on your behalf with your permission.
Trusts
In days gone by, Trusts were the preserve of the landed gentry. Not any more. They have become accessible and affordable.
Why would you have a Trust? Well, there are many reasons.
A Trust can help speed up the process of settling an estate as well as paying for itself in a reduction of Probate or Confirmation costs.
An inheritance taken through the Trust rather than outright can give the family protection against matrimonial and financial issues.
Sometimes it is not helpful for a child to take their inheritance in one lump sum. The child may be on benefits and lose them if they inherit. Or they might have personal issues which means that it is helpful if the Trustees can use their judgement to pass on the inheritance in smaller sums.
Or sometimes they simply help solve issues when the family dynamic is more complex if their have been children from previous relationships.
Inheritance Tax
Greyfriars Estate Planning are not experts on Inheritance Tax mitigation and so wouldn’t give advice on the matter. But we can perhaps help in identifying if, and how much, your liability might be and point you in the right direction of a solution. For instance, not many people know it is possible to increase your exemption allowance to £1million. Contact us and we can tell you how.