Wills & Executries
Very few of us want to contemplate the inevitable, but taking time to have your wishes put on paper can spare your loved ones a lot of heartache and stress when you are gone. Without a Will, we have no say in who gets our property after we die. There are certain legal rules which dictate what happens if no Will is in place – the rules of "intestate succession". In the majority of cases, the division of assets and property according to these rules will not be suitable. Having a well drafted Will in place means you can provide for your family as you would like to, and you can make specific legacies as well - for instance, gifts of certain personal possession and items can be made in a Will that would not otherwise be possible. Once a Will is made, it is possible to alter or revoke it as you see fit. Nowadays, as family arrangements become more flexible, more people alter their Wills and add additional clauses. These Clauses are known as "codicils" and be added whenever necessary Making a Will is quick, easy and straightforward and gives you an enormous peace of mind. Austin Thomson has a wealth of experience and will happily guide you through this process.
Powers of Attorney
With the continuing increase in life expectancy more and more people are realising the advantages of having an effective Power of Attorney put in place whereby anyone who may become temporarily incapacitated or require long term assistance can have a trusted family member or friend step in and take full responsibility for finances and care arrangements for as long as might be necessary. A Power of Attorney can be put in place but need not be activated until it is required. Banks, Pension Authorities and Financial Institutions will insist on seeing a valid Power of Attorney before they will allow an account to be operated by anyone other than the account holder regardless of the circumstances It can be very inconvenient and costly if some forethought is not given and the alternative would be the appointment of a Financial Guardian through the Courts where the process can be both long and expensive.
For a person who has lost somebody close to them, the thought of having to deal with the administration of their Estate can be very stressful and emotionally draining. Austin Thomson and his executry team at Frazer Coogans have years of experience helping bereaved families handle the administration process of an Estate. They will take over the day to day administration of the estate and keep and support you in a professional and sensitive manner throughout the executry process.
Estate & Inheritance Tax Planning
Organising your Estate or "Estate planning" is what people do to minimise or remove any liabilities, such as tax, that may be due on their Estate when they die, particularly when some or all of the Estate has been identified to be passed on to other members of the family. Peter McNamara, our Inheritance Tax Specialist can guide you through this increasingly complex area of law. We will work with you to help ensure that your affairs are put in order to benefit your family when you are no longer around.
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