Private Client
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Service Areas
Making a Will
Whilst it is not a pleasant thought, it is a fact of life that we are all going to die eventually. We will assist you in formalising your wishes in the event of your death and help your family cope with the stress and problems associated with bereavement.
Writing a will is the only way to ensure your loved ones are looked after in the way you want. Leaving loose ends after you die may result in loved ones becoming involved with complex legal issues at a distressing time. As a result, your assets (including your home and its contents, personal items, money, shares etc.) may not be inherited according to your wishes and your estate may be reduced significantly by Inheritance Tax.
The writing of a will ensures that your estate passes to those whom you wish to benefit. A carefully prepared will can mitigate inheritance tax and safeguard family assets for future generations and therefore is an essential tool in arranging your affairs.
We can also advise you on the validity of existing wills and assist you in preparing new wills. We encourage you to review your will regularly – tax laws change, as do family circumstances, and it is important to keep a will up to date.
In addition, we will also advise you on the impact of Inheritance Tax making use of exemptions, reliefs and allowances or take measures to reduce the risk of possible claims against your estate and, if appropriate, on family trusts. We can also advise you regarding other arrangements, such as appointing trustees and executors, or guardians to care for children.
Probate & Estate Administration
At Clevar Chambers, our probate solicitors have extensive experience in preparing Wills and specialise in administering estates including post-death Inheritance Tax planning by the use of a Deed of Variation.
When anyone dies, somebody has to deal with their estate – the money, property and any possessions they had at the time of their death. If there is a will the estate will pass to the people named in the will. If there is no will rules laid down in Parliament, known as the Rules of Intestacy will apply.
We have extensive experience in administering estates including post-death Inheritance Tax planning. Our dedicated and experienced team administer estates with sympathy and efficiency enabling us quickly to identify and to resolve any potential problems and minimise the expense and stress involved.
Even a small estate can involve considerable responsibility and paperwork. The paperwork can be substantial and the process time-consuming. We are here to help and can assist you throughout all or part of the process and may be able to identify tax planning opportunities.
We can help at all levels, including
Registering the death
Helping you to make funeral arrangements
Organising payment of Inheritance Tax
Obtaining a Grant of Representation
Dealing with assets and liabilities
Assisting with tax claims and returns to the Inland Revenue
Some estates will require special consideration to ensure that the estate is dealt with in as tax-efficient a way as possible. We have experience in winding up estates with a range of net values, from modest levels to those with millions of pounds. No estate is too small, and all require a personal, professional and structured service; and at Blackhams they all get the same. This ensures that our clients are informed as to progress at all times.
Clevar Chambers have a dedicated team of specialists who deal with all the formalities required in obtaining Probate and administering estates, dealing with estates both large and small.
Lasting Powers of Attorney (LPA)
We must face up to the possibility of future events that may be unwelcome. This includes the possibility of becoming unable to make decisions for us due to physical or mental incapacity, whether brought on by an accident, illness, or old age.
What would happen if you lost capacity through illness or through a sudden injury? How would your bills be paid? Who would decide what medical treatment you will have?
By making a Lasting Power of Attorney (LPA) you can give someone (your Attorney) you know and trust your express authority to deal with your affairs if you are unable to do this yourself. An LPA cannot be used until it has been registered at the Office of the Public Guardian. It can cover either your financial affairs, or decisions that may need to be made about your personal welfare (e.g. medical treatment, care and so on) or both. Making an LPA is sensible planning.
What if I do not have an LPA and need help in the future?
If you do not have an LPA and become unable to deal with your own affairs due to a loss of mental capacity, the process of appointing someone to stand in your place (and be your Court-appointed Deputy) can be cumbersome and costly.
There may be a period where no one is officially appointed to assist you, during which time anyone trying to assist on your behalf will be doing so without the appropriate authority. This could create difficulty and distress for you and your family. Appointing an Attorney under an LPA is much less expensive and gives you and your family peace of mind for the future.
Court of Protection
If someone loses their mental capacity and becomes unable to make decisions, but has not made a Lasting Power of Attorney, it may be necessary for a Deputy to be appointed by the Court of Protection.
The Deputy appointed by the Court will then have the necessary powers to act on behalf of the person concerned. The Court will issue an Order setting out the extent of the Deputy’s powers. The powers may relate to financial matters or personal welfare issues. The powers granted will depend upon the needs of the person concerned.
Trusts
Trusts have been used for centuries for inheritance planning and wealth protection.
We advise on the right type of trust for you, set up the trust and help you to manage a trust. We can guide you through the various tax rules affecting trusts. We can, and frequently do, act as trustees alone, or with family members.
The approach of families to these issues has changed over time but the trust is still a valuable tool.
Specific issues such as the protection of vulnerable or under-age family members can be addressed by appropriately structured trusts.
The management of trusts – the responsibility of the trustees – can be daunting, but we are here to make life as easy as possible for you. We can help you to agree a suitable investment policy with your investment manager, we can guide you through the various tax rules affecting trusts. We can, and frequently do, act as trustees ourselves.
Estate & Inheritance Tax Planning
At Clevar Chambers, we understand that the issue of inheritance tax is important to you, which is why we work closely with you to ensure every detail is carefully considered and planned to minimise the liability on your estate.
The team at Clevar Chambers will work closely with you to understand your personal circumstances and from this they will ascertain whether steps can be taken to reduce your estate’s liability. We understand that no two clients or situations are the same, therefore our Inheritance Tax advice is tailored and personalised to you and your situation. We take the time to understand what it is you need from us and the outcome you desire and we strive to make this possible.
By sensible Inheritance Tax planning, the amount payable can be greatly reduced. This is often done by careful use of various reliefs and exemptions available which are often less straightforward than they might seem at first sight. Early planning is beneficial.