Most of us acquire assets throughout the course of our lives.
As solicitors we can advise on how you can:
Our advice is completely independent. We have no formal links with any financial institutions, nor do we receive any commissions or fees from them.
We can give general advice on Income Tax, Capital Gains Tax, Inheritance Tax, Value Added Tax, and Stamp Duty.
Specific Advice and instruments we offer include the following:
All adults should consider making a Will. A will gives you the means to determine how your assets are distributed after your death, whilst providing the opportunity to minimise any taxes your beneficiaries may have to pay.
Planning the disposal of some assets prior to death can be tax efficient but requires careful planning.
Trusts can be useful planning devices which allow you to retain some control over your assets.
We can offer advice on the range of trusts which you can use, and help determine which are best for your circumstances. In particular, we can set up discretionary trusts for children or for those who are handicapped.
An LPA is a simple instrument which allows you to nominate someone to be your attorney should you become incapacitated in the future.
There are two types of LPA. One deals with Finance & property and the other with your Personal Welfare. You can set up either one or both depending on your own requirements.
To become legally effective an LPA has to be registered with the Office of the Public Guardian, a government agency and there many safeguards to prevent wrongful use or abuse of the power.
Setting up an LPA will help alleviate distress and inconvenience caused to you and your family should you become incapacitated.
With ever-increasing life expectancy many of us need to contemplate the likelihood that we will eventually need long-term care in a residential or nursing home.
Under current legislation the authorities are entitled to force the sale of your assets, including your house, in order to pay for the care you receive. It may be possible, with the professional advice and assistance we offer, to mitigate against this eventuality, meaning that your beneficiaries will inherit more of your estate.
We can assist in the administration and winding up of a deceased’s estate whether or not they have left a Will.
For further information please contact Philip Davies