Estate Planning - Private Client Solicitors

Estate Planning

Estate planning is understandably something people don’t always like to talk about, but it is in fact one of the most important conversations you will ever have. It’s about providing for those difficult events in life should something happen to you. It won’t take the emotional strain away from your loved ones, but it will help them if your affairs are organised, and your wishes are clear.

Our solicitors can assist during your lifetime with the following services:

  • Wills – all types from simple to complex tax efficient trust structures on death

Having a well drafted Will in place ensures that your chosen beneficiaries can inherit your estate in the manner you chose. It prevents the government from dictating what happens and means your executors can act from the day of your death. Various protection and tax planning opportunities can be utilised by having a well drafted Will. We are also experts in Shariah compliant Will drafting.

  • Powers of Attorney – general, financial and health

Powers of Attorney can be used when an individual has capacity (at their direction) and also when they have lost capacity. An individual chooses who they would like to “step into their shoes” and deal with matters for them. There are separate documents that can be entered into for your financial affairs, business affairs and your health matters. If Lasting Powers of Attorney are not put in place whilst you have the requisite mental capacity to do so and something happens, an application to Court is required which can take months, is costly and may well appoint someone that you would not have chosen.

  • Trusts – all types including bare trusts, discretionary trusts and life interest trusts

Trusts are usually created for tax efficiency and protection reasons, allowing funds to be ring fenced for particular people or future generations. Our trusts are not “off the shelf products” and can therefore be tailored to meet any specific needs or wishes of the individual. We can assist with creation, registration and administration of trusts.

  • Inheritance tax and succession planning

We can comprehensively review your family circumstances and where possible assist you to save considerable amounts of inheritance tax for the benefit of future generations which may include a range of gifting, trusts and/or a family investment company. We are happy to work alongside your chosen accountants, tax advisors and wealth managers to ensure that your aims and objectives are met in the most tax efficient way.

  • Family investment companies – a private company whose shareholders are family members

 

Created to ensure that family wealth can be protected and invested in a tax efficient manner. A Family Investment Company can be structured to suit the specific needs of the family, and the company documents (such as Memorandum, Articles of Association and Shareholders Agreement) will specify how specific family members will benefit with regards to voting rights, future profits, income and/or capital. Different classes of shareholdings allow individuals to differentiate between the tax planning and succession needs of all family members.

 

We are happy to have an initial no obligation telephone call, in person or online meeting to understand your requirements and where possible, we will provide our services for a fixed fee.

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Private client legal services

We have extensive experience in relation to wills, trusts, tax, estate planning, succession, wealth preservation, probate, mental capacity law and philanthropy. Our priority is to ensure that your legacy planning produces the best possible outcome for you and your family.