Private Client Solicitors in Harrow
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AREAS OF PRACTICE
Private Client
Our Private Client team has extensive experience and will be able to provide clear and concise advice on the following areas to ensure you receive the best possible service.
Wills
A Will is a legal document that enables you to pass your assets to your loved ones.
When a person does not leave a Will their assets are distributed according to the Intestacy Rules, which may not be according to the deceased’s intentions. Therefore, it is important to create a Will to allow your assets to be distributed to your beneficiaries according to your wishes.
PREPARING FOR YOUR FUTURE
Lasting Power of Attorney
A Lasting Power of Attorney (LPA) is a legal document that allows you, the “Donor”, to appoint one or more people, known as the “Attorney”, to initially assist in making decisions or make decisions on your behalf.
There are 2 types of LPA’s:
- Property and Business Affairs: where decisions can be made in respects of your assets
- Health and Welfare: where decisions can be made in respect of your health
Trusts
A Trust allows assets to be held by one or more parties for the benefit of another. A Trust can be set up:
- To manage family assets
- When there is a child/children involved
- A person without mental capacity
- To pass on assets whilst you are still alive or in the event of death
- To manage the assets of a disabled person
A SMOOTH PROCESS
Estate Planning
This is a vital aspect of managing your estate to ensure it is arranged in an efficient manner to enable a smooth distribution of assets before death and in the event of death or incapacitation.
Major estate planning considerations include:
- Creating a Will
- Appointing Trustees and Executors to administer your estate according to your Will
- Granting a Lasting Power of Attorney
- Setting up Trusts for beneficiaries tax efficiently
- Making funeral arrangements
- Giving annual gifts to beneficiaries to reduce the taxable estate
Probate
Probate is the legal process of administering the estate of the deceased. This involves applying for the legal documents of a Grant of Probate or Letters of Administration enabling the collecting of deceased’s assets, settling the debts of the estate, paying the required taxes and then distributing the remaining assets to the beneficiaries.
