Making a will creates certainty, reduces worry and gives you the best possible peace of mind of knowing that your money, property and possessions will be dealt with after your death in the manner that you would like to see.
A will guides those who are left behind and saves worry and heartache at a time of great emotional stress. Making a will is also usually the first step to take in structuring your affairs in order to minimise your liability for Inheritance Tax.
Our services include :-
- Advice on lifetime gifts to your family and potential Inheritance Tax implications.
- Issues in wills such as; guardianship, adoption and divorce – including contact and residence issues relating to children.
- Preparation of wills, trusts and deeds.
- Reviewing, amending and storage of wills.
Probate and Estate Administration
A person’s estate is considered to be made up of the money, property and possessions they had at the time of their death. The process of estate administration involves collecting in the money and assets, settling any debts due and dividing the estate amongst the respective beneficiaries.
Generally, the assets in an estate will remain frozen, until the Probate Registry gives authority (via a “Grant of Representation”) to the “Executors” named in the will. If there is no valid will, then it is up to the most appropriate member of the family to act on behalf of the estate. In that case the people dealing with the estate are known as “Administrators”.
If there is a will the estate should go to the people named in the will. If there is no will certain rules known as the rules of “Intestacy” will apply.
We can provide practical guidance, from start to finish, to help you deal with the administration of an estate including:
- Determining the size of an estate for Probate and Inheritance Tax purposes.
- Dealing with tax issues.
- Preparing and lodging the application for a Grant of Representation
- Dealing with relevant organisations and financial institutions to collect in monies due to the estate.
- Settling any outstanding debts.
- Distributing the remaining estate to the beneficiaries
- Sale of shares.
- Sale of land and property.