Legal Services

Estate planning and wills

Gone are the days when responsible and competent private client solicitors will make simple wills for high net worth individuals without very careful discussion. These days a solicitor’s duty of care in the preparation of a will for a client extends both to the client, and to heirs and successors, and indeed any third parties who may have claims on his or her estate. Most families are also more complicated than in the past, with second marriages, co-habitation arrangements, relationships of dependancy, children from previous relationships, and problems of incapacity, duress and undue influence all making the advisors job more complicated.

The makeup of estates is also less straightforward than has been the case in the past. A death may trigger the transfer of property in a number of different ways. Some assets can be directly willed, while others pass by survivorship. Some insured benefits may pass to the executors of the will, while others may be dealt with outside the estate in trusts or by nomination. Family capital available for the benefit of the succeeding generation may need to be managed in a number of different ways. Very often, the identity of the managers (executors or trustees) will be crucial to smooth succession.

Taxation advice is also critical, as substantial amounts of tax can be saved with careful planning. However, detailed knowledge of the interaction between trust law and the rules relating to capital taxation is needed for this process.

Because no two estates or families are the same, the advice will vary in each case. Good advice cannot be provided without intimate knowledge of the personalities involved, and the assets in play. The key areas in which we can help include:-

Meeting you and understanding your circumstances and financial arrangements.
Ascertaining your wishes and intentions.
Evaluating assets and interests.
Inheritance tax assessment.
Advising on lifetime giving and the capital taxation consequences.
Drafting wills, letters of wishes and trusts.
Dealing with the administration of estates.
Providing for the administration of trusts.
Income tax advice and compliance where necessary.
Use of Winckworth & Pemberton Nominees Limited, our investment management company.
Advising on agency, capacity, attorneyship issues.
Life insurance.
Disputes involving wills and estates.