Inheritance Tax Planning, Trusts, Wills and Probate Services
David Howard offer a range of services to help you plan ahead for minimising tax liabilities and the ease the burden on relatives after death.
Having a Will in place is essential.
We can advise on Wills and Trust structures which are flexible and leave assets in a position where liabilities are minimised and also taking into account protection against failing potential marriages of children etc. You work hard all your life to genrate wealth and it is very natural to want to see these assets lost for whatever reason though lack of planning.
Common pitfalls when making a will
- Review your will regularly as your circumstances change.
- Make sure the will can be found and is in a safe place with other important documents.
- Destroy out of date wills once the new one has been written and send signed copies to your named executors.
- Appoint an executor who will survive you and who knows your financial affairs. Your accountant looks after your affairs annually and it is easy to make changes with little fuss.
- Change your will as tax legislation changes. Make sure the person drawing up the will understands tax legislation.
- Your accountant as executor or jointly with the family will make sure your wishes are carried out, the paperwork completed and filed and the tax is correctly paid.
What is Probate?
Probate is the process of gathering a deceased person’s estate paying any tax and debts and distributing the balance to the beneficiaries in accordance with the will, any codicils and letters of wishes.
The benefits of instructing us to deal with your estate
We already have an in depth knowledge of our clients’ financial affairs, have a large amount of the financial information we would need to deal with the estate at our fingertips such as accounts and tax returns, and Trust documents if we have advised on those matters.
So not only does it make it a very cost effective process for us to help you but will mean less queries and upset for your beneficiaries dealing with affairs in what are naturally very difficult times.
Contact Us today to arrange a meeting to discuss how we can help.