Wills
If you want to be sure that your wishes are fulfilled when you die, making a Will is imperative. We will review your estate with you, explore your aims and objectives and tailor your Will to meet your goals when you pass away.
If you do not make a Will then your estate may not go to the people that you may want or in the shares that you want.
Trusts and Estate Planning
A trust is the process of where assets are held and managed by people known as trustees for the benefit of another person or other people known as the beneficiary. There are different trusts to choose from and which one you decide to put into place depends on your aims and objectives.
You will need to choose people to be your trustees, and these are people that you would rely on. Trusts are a complex area of law and you should seek professional legal advice. Contact us for more information, if you require trust planning and as part of your estate.
Lasting Powers of Attorney
Making Lasting Powers of Attorney is the process of giving someone that you trust, the legal authority to act for you, if you became unable to act for yourself due to a physical or mental impairment. There are two types of Lasting Powers of Attorney, one relating to Financial Decisions and another relating to Health and Care Decisions.
By having Lasting Powers of Attorneys in place your chosen attorney(s) will be able to act for you, if you are unable to, due to a physical or mental impairment, for example if you suffer from a stroke, dementia or alzheimer’s. Your attorneys must act in your best interests at all times. They must also understand and always follow certain principles, which are set out in the Mental Capacity Act 2005 and its code of practice.
You can make a Lasting Power of Attorney whilst you have the capacity to do so. It can be reassuring to know that someone you trust will make decisions for you if you cannot.
Probate
Probate is the legal right to deal with someone’s property, money and estate when they die. Probate may not be required in every case.
Only certain people can apply for Probate, and this depends on whether there is a Will. Before making an application for Probate you must establish whether any inheritance tax needs to be paid.
If you are unsure whether you require Probate, and, or, need help with inheritance tax, please contact us.
Administration of Estates
Estate Administration is the process of dealing with the deceased’s assets, debts, taxes and liabilities before distributing the inheritance to the beneficiaries.
If you have suffered the unfortunate loss of a loved one, we can provide you with clear, compassionate advice and assistance with dealing with an estate during what can be both a difficult and stressful time.
Court of Protection
If someone does not have the mental capacity to make decisions for themselves and they did not make Lasting Powers of Attorney, or appoint an attorney, you can apply to the Court of Protection to appoint a Deputy to act for them.
An application can be made to deal with someone’s finances for a one-off decision, obtain the authority of the Court or become an ongoing deputy to act for the person’s property.
How It Works
Wills and Probate Services are a trading name of H&M Talwar Consultancy Ltd Suite 106 Denning House C/O Know Tax, George Street, Wolverhampton, England, WV2 4DP.
We are not sole practitioners and do not work independently as solicitors.
All advice and work is carried out through Nexa Law.
Manjinder and Harpreet Talwar are Consultant Solicitors with Nexa Law which is authorised and regulated by the Solicitors Regulation Authority (Licence Number 633024).
If you have further questions, please do get in touch.
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