Services
03. Estate Planning and Administration
What is Estate Planning?
Estate planning can be wider then just writing a Will or LPA and can include considerations for:
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A living Will which will detail your end of life preferences in case you are unable to make decisions for yourself.​
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Protecting your wealth should you become incapacitated.
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Using trusts as way to mitigate tax and protection of your wealth.
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If your beneficiaries are likely to incur inheritance tax, making sure funds are available to pay this upfront cost.
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Ensuring available pension benefits can be passed onto beneficiaries.
Estate Planning - how can we help?
What is Estate Administration?
We can provide professional bespoke advice on the best way to structure your estate plan. Our first initial appointment service is free and available either online, telephone, or by a home visit if you prefer.
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We will discuss your situation at the first meeting and then provide you with a plan to meet your requirements. We will give you time to consider this, and at this point you are still under no obligation to proceed.
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An executor or trustee of an estate is legally responsible for the money, property and possessions of the person who died, from the date of death, until everything has passed to the beneficiaries. This is known as the 'administration period'.
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During the administration period the executor/trustee must:
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pay any debts left by the person who died.
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sell assets such as properties or shares.
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pay tax on any income the estate generates.
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report the estate value, income and tax liability to HM Revenue and Customers.
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keep good records of all administration.
Estate Administration - how can we help?
For inexperienced executors/trustees, it can be time consuming and complicated to correctly administer an estate. This can be more problematic when a trust is involved. It is an important role where the individuals are legally responsible for their actions and the inexperienced individuals may require assistance from trusted professionals.
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We can off a bespoke service, which can be a little as adhoc advice/guidance, or as much as full estate administration.
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