BEERS PRIVATE CLIENT
The Head of Department is Michael Hasler.
Michael practises in all aspects of Private Client work, with particular emphasis on for the older client, tax planning, will, trusts and estates, and also has wide experience of property matters including agricultural land and pension fund purchases.
Gail Luscombe completed her studies in 1995. She was admitted as a Fellow of the Institute of Legal Executives in 1997. Gail specialises in Wills, Lasting Powers of Attorney, Taxation, Trusts and Probate.
Sonia Hems relocated to the South West in 2008 to join Beers LLP. A Fellow of the Institute of Legal Executives, Sonia specialises in Wills, Lasting Powers of Attorney, Taxation, Trusts and Probate.
Wills & Inheritance Tax
Most people see making a will as something to leave until later in life or they put it off assuming that it is an expensive process to go through. These days, there is no reason why writing a will should be time consuming or costly. And one thing is for sure: your family will thank you for doing it.
What is a will ?
A will is a document that comes into effect when you die. In it, you identify what you want done with your with your property after your death. In it, you appoint individuals or a firm or a bank to be responsible for the administration of your estate in accordance with the terms of your will.
The Will document therefore needs to give them all the powers that they need to do this. It can minimise the effects of taxation, it can include express provisions about the disposal of your body and who you would want to be responsible for the guardianship of your minor children. In short, it enables the Will maker to clearly state the preferred destination of his or her assets.
Without a Will, a set of statutory rules is imposed which effectively leave everything to your close relatives in a fixed order. For example, a spouse and children would share an estate exclusively if they survived you.
The spouse would be entitled to a fixed statutory legacy and the remainder would be left in two trust funds, partly for the benefit of the spouse and partly for the benefit of the children. These fixed statutory rules do not provide for an unmarried partner, friends or charities that you may have supported. In fact, if you have no close relatives and do not leave a Will, then the whole of your estate will go to the Crown.
In a recent survey, 67% of people did not know where to find their parents' Wills. Ten of thousands of estates fall into intestacy each year, which can cause emotional and financial turmoil for loved ones. Ask us to register your will today with the Certainty Wills register. The register lets other solicitors know that your solicitor holds it. This means that when your Will is needed by beneficiaries it is easily traceable and not overlooked. Protect your family now, for the future ......
"Making a tax efficient will is just a sensible way of protecting your lifetime investment"
These same statutory rules also require specific people to act as the administrators of your estate whether or not they have the necessary skills. This could prove to be traumatic if for example you have been married before and have adult children from your first marriage and are survived only by them and by children from your second marriage. All of them would be equally entitled to act as administrators in your estate. They may not even have met or communicated with one another.
What are you going to leave and where is it going?
It's a simple question! But life is complicated.
Don't assume that your partner or your children will inherit your worldly goods on your death especially if you are living in an unmarried relationship or you or your partner have children from a previous relationship. They may not be equally entitled.
Experts in Wills & Trusts
We have expertise in all aspects of the process, from the preparation of wills to advice on provisions you may wish to make for the management of your estate, finances and assets.
You might also want to discuss trusts with us, to ensure financial responsibilities can be properly fulfilled, or to protect the inheritance of family members, during your lifetime and beyond such as to provide for young children or a disabled person, to save tax or simply to protect your assets in some way after you die.
Whatever your requirements, we'll work with you to make the best of your assets, planning carefully and intelligently so as to benefit your family as much as possible after your death.
Financial Planning
Everyone wants to live a long and active life. However, there may come a time when you may become dependent on others.
"Who will make the decisions about your future if you can't?"
You may have made a will expressing what you want to happen to your Estate upon your death but who will make decisions about your affairs if you become mentally incapable ?
A Power of Attorney allows you to choose who is going to make the important decisions on your behalf.
You can appoint a relative, friend or solicitor to act solely or in conjunction with others to make the important decisions that affect your welfare if you cannot. There are a wide range of powers of attorney which we can help to prepare:
General Power of Attorney
LPA - Property and Affairs
LPA - Personal Welfare
Court of Protection applications
Other financial matters affecting elderly people that we can
advise on are:
Equity Release Schemes
Funding arrangements for long term care
Where you suspect that an elderly person may be the victim of financial abuse
After a Death
When a person dies, someone has to deal with their affairs. This is called administering the estate.
Except where an estate is very small it is likely that someone will need to be appointed to deal with the Administration of the Estate of the deceased and to deal with payment of any inheritance or other Taxes that may be due.
Hopefully there will be a tax efficient will which might mitigate the Tax liability of the estate. This also sets out whom the deceased intended to be appointed as Personal Representatives to deal with the administration. Where there is no will the law sets out certain categories of people who can apply.
The Personal Representatives of the deceased will usually require a Grant of Representation from the Probate Registry and we can help you with this application.
Advice when you need it most
Administration of Estates can be complicated and may require the preparation and computation of Tax Returns and the division of family assets including land and personal effects and this may be at a time when a family is trying to come to terms with a loss.
We will give you the help and advice that you need.
Get in touch with us.
"Even after a death, there are steps that may be taken to lessen the potential tax burden"
Financial Management
Paperwork getting on top of you?
If you decide that managing your affairs is getting too much you can appoint someone else to do it for you using a Power of Attorney. If you choose, we can manage your affairs on your behalf. This can include dealing with your day to day finances, arranging payment of your bills and household expenses, settling your tax position and ensuring that your investments are properly managed.
Tax Returns
We will be happy to deal with completing your annual tax return.
Peace of Mind
When you appoint Beers LLP to manage your affairs you are secure in the knowledge that we have over 100 years experience of helping people in similar situations to yourself and that our management and accounting procedures are approved by the Law Society.
"Let us take the strain while you enjoy your retirement" Contact us for more information.
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