Wills and Probate
Solicitors based in Crownhill Plymouth
Do I need a Will? If you own nothing, have no children, live alone and live on benefit then you do not need a Will, but if you own a property or have savings or have minor children, or live with someone then it is always advisable to have a Will saying who should get what when you die. A Will usually names one or more persons to act as executors, an executor is the person(s) appointed by the Will to administer the estate. It is the responsibility of the executor(s) to comply with the necessary procedures to obtain Probate.
What if there is no Will? Then the person has 'died intestate'. This makes the procedure far more complicated and instead of having to apply for Probate, you have to apply for Letters of Administration. As there is no Will to appoint the executors, the law determines the person or persons to be responsible for administering the estate. They are called the Administrators, and are usually close relatives of the person who has died. It must be explained to the Probate Registry how they are entitled to act as administrators and once Probate has been issued they have the same responsibilities as executors.
What is Estate Planning? A service Evans Harvey Solicitors offer to those who have assets in excess of the nil rate band for Inheritance Tax, which is currently £325,000 per person, then it may be possible to so arrange your affairs as to reduce or even eliminate altogether your liability to Inheritance Tax. There are many ways to protect your assets from the tax man which can involve the setting up trusts, but there are a number of ways of reducing Inheritance Tax, dependent on your personal circumstances. However, the tax system is arranged so that in avoiding one tax, you often become liable for another one and therefore it is important to have an eye on Income Tax and Capital Gains Tax and Stamp Duty before making a decision, often it is just a matter of choosing a lesser evil. Evans Harvey Solicitors have experienced and knowledgeable Estate Planners who take the time to understand your personal situation to best protect your assets for your beneficiaries.
Preparation & Writing of Wills
It is safer to make a will to ensure that matters are dealt with as you wish and to avoid confusion amongst family members after your death. Your Will can of course always be changed. Our specialist team can offer advice on the best way of giving effect to your wishes.
Probate and Estate Administration
Our established probate team understand how upsetting it is when a loved one passes away. This is often exacerbated by the responsibilities of having to deal with the administration of an estate. It is our aim to assist you through this time by making every step of the way as straightforward as possible.