Wills, Trusts and Probate

We will write your Will from £100*

Fixed fee Wills - call back request

Alternatively, speak to one of our Wills team:

EXETER & BUDLEIGH SALTERTON:
Don Middlemost & Lisa Manning 01392 270867/01395 445581

CREDITON:
Jeremy Lee & Martin Justice 01363 775566

Almost 70% of people put off making a Will. There are many reasons for doing so, mainly because a Will is not considered by most people to be a priority with so many other demands on our time and finances. Those who have made a Will may now find that it is invalid due to changes in their circumstances such as re-marriage or further children.

STOP! - Making a Will may be the biggest investment that you will ever make. By taking a small amount of time to consider what you would like to happen with your assets in the event of your death will ensure that your wishes are heard.

Failure to make a Will can result in massive financial tax losses and disputes between loved ones with the State intervening and making important decisions regarding your affairs. Most people believe that where no Will is made the entire estate is inherited by the deceased's spouse, which is not necessarily the case. Although the law does make provision for spouses and other relatives, it is unlikely that your estate would be distributed exactly as you would have wanted.

From just £100 for an individual and £150 for a couple we are able to write your Will and give practical advice and guidance on tax planning to avoid those unnecessary tax liabilities.

Can you afford to put off making your Will??

We have been drafting Wills and dealing with the administration of estates since first established and have a wealth of knowledge and experience in this area. Our range of services include-:

Wills
Administration of estates
Contentious probate
Tax planning to minimise Inheritance Tax liability and other estate duties
Intestacy
Trusts
Claims under the Inheritance (Provision for families) Act 1975

Even if you have already made a Will it is sensible to have it reviewed if it is more than three years old as your circumstances may have changed. For example, a lot of people are unaware that marriage usually revokes an existing Will. Our specialist teams will give you friendly, helpful and easy to understand advice.

*applies to standard Will for one individual. Price is EXCLUSIVE of vat and applies to a standard Will for one individual.

Inheritance Tax changes

In his pre-Budget report on 9th October 2007, the Chancellor made a number of important tax announcements including crucial changes to the Inheritance Tax rules affecting married couples and civil partners. In summary this means that:

If a married person or civil partner does not use the whole
of his/her £312,000 tax free allowance on death the unused
amount can be transferred to the surviving spouse or civil partner.
Therefore if a husband leaves all his estate to his wife on her
death the wife’s tax free allowance will be £600,000 which is
double the current limit for a single person.
The above rule will also apply to existing widows, widowers
and bereaved civil partners.

The changes to the rules may mean that the details of your existing Will are incorrect or inappropriate. For instance, it would no longer be necessary for a spouse to set up a Discretionary Nil-rate band trust in a Will if the reason for doing so was to save tax. Furthermore, if the surviving spouse or civil partner has made certain tax planning arrangements it may make sense for those arrangements to be reviewed as they might now be wholly unnecessary.

Lasting Powers of Attorney

Since the 1st October making a Lasting Power of Attorney (LPA) has been the only way of appointing someone to manage your affairs. Enduring Powers of Attorney properly completed on or before the 30th September 2007 are effective.

There are two types of LPA as follows :

(1) Personal Welfare LPA under which you can give your attorney the power to make decisions about any or all of your personal welfare matters including medical treatment or your living arrangements. Subject to certain safeguards you can also give your attorney the power to make decisions on your behalf about “life-sustaining treatment”. Such an LPA can only be made by the donor when he/she has lost the mental capacity to make such decisions

(2) Property & Affairs LPA under which you can give your attorney the power to manage your finances and property whilst you still have the mental capacity to manage your own affairs.

Unlike the Enduring Power of Attorney the LPA cannot be used by the donor unless and until it has been registered with the Office of the Public Guardian

The regulations relating to LPAs are complicated and it is important that all those involved with LPAs whether the person making the LPA, the attorney accepting the appointment or the professional drafting the deed taking appropriate legal advice.

An LPA can be made at the same time as a Will to ensure that all of your affairs are in order according to your wishes

Useful link: www.publicguardian.gov.uk

If you would like more information or advice on wills or LPA's, please contact either Don Middlemost at our Budleigh office (01395 445581, dm@srl-solicitors.co.uk) or Martin Justice at our Crediton office (01363 775566, mrj@srl-solicitors.co.uk) for a free initial telephone consultation.