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Wills Trusts & Estates
The importance of making a Will cannot be overstressed. Each Will is tailormade for the client taking into consideration his or her personal financial circumstances, family and commitments and the possible incidence of taxation and in particular inheritance tax.
After a death it is important to those who are left behind that the Estate is administered with sympathy as well as with efficiency. This involves obtaining valuations of all of the assets of the Estate, agreeing the tax liability, petitioning the Court for the appointment of an Executor or Executrix, (where appropriate) and applying for Confirmation. Thereafter with the benefit of Confirmation gathering in the assets of the Estate and administering them according to the Will or according to law as the case may be. In many cases Trusts may arise under the provisions of a Will or an Intestacy and that Trust could last for many years.
In dealing with the personal affairs of clients it is appropriate to mention Powers of Attorney and Court Orders available to enable relatives, friends, or professional advisors to administer the affairs of elderly or infirm persons who, for whatever reason, are unwilling or unable to manage their own affairs. |
