Probate and Trusts

Probate

Our Probate team has many years of experience in dealing with estates whether they are worth a few thousand pounds or over a million pounds. With our Partner Andrew Hurrell being a Notary Public as well he can offer assistance in dealing with any assets abroad. He is also a member of the Society of Estate and Trust Practitioners (STEP) and the Law Society's Probate Section Group.

We can assist you with the following :-

Valuing assets
Obtaining Grant of Probate (where there is a Will) or Grant of Letters of Administration (where there is no Will - Intestacy)
Preparing the Inheritance Tax forms - calculating Inheritance Tax
Payment of liabilities
Settling the deceased's tax affairs including income tax and Capital Gains Tax liabilities
Paying legacies under the Will and transferring assets to beneficiaries where necessary
Preparing the estate Accounts.
Where a Trust arises under the Will or Intestacy arranging for the investment of the of the Assets.
Making final distribution to beneficiaries
Advising on Deed of Variation
Advising on any potential claims against the estate including Inheritance Tax claims

Trusts

A Trust is a legal device which enables you to separate ownership of an asset (whether that asset is a house investment or cash) from the right to use the assets or to receive its income. The person who owns the assets in a Trust is called a trustee and the person who has the benefit of the asset is called a beneficiary.

A trust can be useful in the following examples :-

Where someone is too young to handle their affairs
Where someone cannot handle their affairs because of their incapacity
To pass on money or property whilst you are still alive
Under the terms of a Will or where there is no will

Our advice covers

Setting up the trust and administering it
Advice on Inheritance Tax and Capital Gains Tax liability
Trustees' duties
Varying the terms of a Trust.