Planning for Death

We can help to protect your wealth and minimise the tax liability due on your estate. Our team can help create a plan and provide the care you, your family and those close to you by looking at your current situation and future requirements.

Lasting Power of Attorney

There are two types, one for property and financial affairs and one for health and welfare. This document allows you to appoint a person to manage your affairs should you no longer have the ability yourself. This may range from paying bills, dealing with your bank, assisting with care etc.

You will be able to decide who will have the power as opposed to court applications and a decision by the judiciary which can be an expensive and lengthy process.

Estate planning & Wills

When you pass away all your assets and liabilities are netted off and called your Estate. During a person’s lifetime they may wish or structure their estate in such a way to maximise the benefits to individuals or charities.

Most people primary concern is to ensure that their loved ones are properly provided for as they would wish. This may be spouses, children or grandchildren and it can be actioned in many ways be it by legacies, gifts or trusts.

Minor children could be taken into care without guardians having been appointed.

We can advise you on the various aspects and indeed draft and hold your will for safe keeping.

Probate (Non- contentious)

We are authorised by the Institute of Chartered Accountants in England and Wales to carry out the reserved legal activity of non-contentious probate in England and Wales.

In order to remove any undue and additional stress, we are able to:

• Cover any and all lengthy and complex paperwork
• Assist with obtaining the official Grant of Probate
• Transfer the ownership of assets
• Calculate all taxes due and apply our specialist knowledge to mitigate these where possible.

From the administration and distribution of the estate to tax calculations, including inheritance tax liability, we believe our financial expertise and wealth of experience in this area equips us well to handle the probate process.

These are the services we can provide:-

a)         send notifications of death to the relevant government organisations, financial institutions, utility providers 
b)         finalise the income tax and capital gains tax position of the deceased for the tax year
c)         ensure the validity of the will, codicils and legacies;
d)         identify the beneficiaries based on the provided information;
e)         advise whether a grant is required;
f)         obtain a valuation of the estate;
g)         prepare the inheritance tax return;
h)         prepare the application for a [grant of probate] [grant of administration];
i)          place statutory notices in The Gazette and
j)          prepare and take any appropriate oaths;
k)         obtain the grant;
l)          take control and gather the assets of the estate;
m)        pay debts of the estate, including tax liabilities;
n)         finalise the estate tax;
o)         pay any legacies;
p)         transfer the remaining balance to the residuary beneficiaries; and
q)         prepare the estate accounts.

Fees:

The basis of our fees is either chargeable hours or as a percentage of the estate. This is agreed in advance and noted in our engagement letter.   

We expect our fees to obtain the grant to be in the region of three to seven thousand + VAT. This will be dependent on complexity & hence time or value. 

Timescales vary between 3 months to 2 years.