Issue over a Will or inheritance?
Contesting a Will
If you are the executor of the estate, you will be responsible for dealing with any challenges. It's important to try to settle the Will fairly but at the same time uphold the spirit of the Will.
We have a great deal of experience helping clients overcome contested Wills. We understand the sensitive nature of situations like this and are perfectly positioned to see the case from your side, as well as from the claimant's point of view.
Defending a Will
If you are in the situation of someone challenging your inheritance, it's important that you seek legal advice from the beginning. Our legal team can help to determine that the Will is valid by establishing it was executed properly and reflects the deceased's true wishes, the exectors or trustees behaved appropriately and that the deceased was in sound mind at the time he/she signed the Will.
Can a Trust protect my assets and save on inheritance tax?
A trust is a legal arrangement where one or more trustees are made legally responsible for looking after certain assets for the benefit of someone else. They can include all manner of assets, ranging from property to cash and investments.
Removing assets from your estate and placing them in a trust can mean that they will no longer be subject to any inheritance tax (IHT). If your intention is to pass your assets on to a loved one, you can place them in a Trust and name them as the beneficiary. This will achieve the desired result of passing a portion of your estate to them.
Inheritance Tax - advice and how to mitigate
When you've worked hard to build financial security for you and your family, it makes sense to protect it for those times when situations arise that may be beyond your control. Protecting family wealth demands early planning and a close personal relationship with your legal advisors.
Succession planning involves more than making a Will. We can advise you on lifetime gifts, family trusts and shared business ownership, as well as any related tax issues such as inheritance tax, capital gains tax, income tax and stamp duty land tax.
For example, if you fall outside of the inheritance tax threshold, we can help you set up a trust in your Will to take advantage of tax exemptions and allowances. A trust could also be useful if you have children from a previous relationship and want to provide for them in your Will.
Our team can also arrange a Deed of Variation, diverting funds from a loved one's estate in order to help with tax planning. Finally, to offer a full package of support we can also put you in touch with independent financial advisors and accountants to advise on your wealth management.