7 out of 10 people die without making a Will, but everyone should make one. If you don’t make a Will your assets may go to people who you did not wish to benefit and
not to your intended beneficiaries. If your Estate is worth more than the amount set
by the HM Revenue & Customs inheritance tax will be payable. This will mean significantly less will be left for your loved ones. You can make sure that the right people benefit after your death and avoid or reduce inheritance tax by having professional advice and a properly drafted Will.
Tax Planning
Having a properly drafted Will is not the only measure you can take to reduce or avoid inheritance tax. Measures can be taken before death to reduce the tax payable. We can provide specialist advice about the steps you can take now to reduce inheritance tax including advice on exemptions, reliefs and the setting up of trusts.
Living Wills
We can also advise you on drawing up a “Living Will” – setting out what care you
want in the event that you become so ill that you are unable to give medical staff
clear guidance.
Lasting Powers of Attorney
None of us like to think about losing the ability to manage our property and financial affairs or losing the ability to make decisions about our personal welfare.
You can however plan ahead by formally appointing a friend, relative or professional
as an Attorney to make decisions for you should you become mentally or physically unable to do so.
As of 1st October 2007 Enduring Powers of Attorney were replaced by the new Lasting Powers of Attorney (LPA). The main difference between the two is that an Enduring Power of Attorney was limited to dealing with a person’s financial affairs, whereas a Lasting Power of Attorney can cover both financial and personal welfare issues.
For a fixed fee our specialist legal team will give expert advice on lasting Powers of Attorney and guide you through the new procedures.
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Why choose Watkins & Gunn?
Whatever your needs for Wills and Probate advice we recognise the difficult decisions that may have to be made and will do our best to guide and support you and those
left behind in a sympathetic and sensitive way.
Meet the Team.
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