Trusts, Estate Planning & Wills
Trusts are widely used as part of inheritance planning, both to minimise tax liabilities and as a way of controlling what happens to wealth and property after the owners death.
Our team can advise you on the legal and practical implications of creating a Trust. Common types of Trust include:
- Bare Trusts
- Charitable Trusts
- Discretionary Trusts
- Life Interest Trusts
- Personal Injury Trusts
- Will Trusts
- Trusts for Disabled Persons
- Trusts of Life Insurance Policies
- Trusts arising out of the variation of a Will or Intestacy
Probate is the term used for applying for the right to deal with a deceased person’s financial affairs.
If a person has died leaving a Will, one or more persons are named in the Will to act as the executor. In order that the executor may deal with the deceased’s estate, the executor applies for a Grant of Probate from the Probate Registry. If a person has died without leaving a Will, a close relative (next of kin) can apply to the Probate Registry for a Grant of Letters of Administration.
We at Newmans can help you with the whole process from the application for the Grant of Probate or Letters of Administration, as the case may be, right through to winding up the estate and distributing the assets to the beneficiaries.
We provide friendly and sympathetic advice at a difficult time of bereavement. We also offer home visits and after a free initial consultation with us we will be able to give you an estimate of our professional fees with no hidden charges.
A high number of people fail to make a will, despite the difficulties that this can create for family and friends after death. Even more people fail to take advantage of the opportunities to minimise the tax which will be paid on their estate.
We can draw up simple wills for clients, or give more complex advice on tax planning, gifts and legacies and trusts.
Contact us to speak to a Wills, Trusts and Estate Planning Solicitor.