With more than 60% of the population in the UK dying intestate (without having made a Will) it is now more than ever necessary for you to protect family wealth and limit adverse tax implications both in the UK and elsewhere.
Important things to note when making a will include...
Our specialist team of lawyers can help you protect your interests and give you the peace of mind knowing your estate is taken care of when you pass away.
Having a will in place is tremendously important and should not be taken lightly. A will is a legal document in which your expressed wishes can be implemented as to how you want your assets to be distributed upon death.
By instructing a professional to draft your will, you can have a peace of mind that it will be free from any errors so as to avoid any challenges in the future due to invalidity which may go as far as lengthy litigation. We also have experience in preparing Islamic wills that are Shariah compliant, should the Muslim community require it.
When someone dies there are a number of important tasks that need to be completed.
If the person died leaving a valid will, then the named executors take on this responsibility. In the absence of a valid will, the person is said to have died "Intestate" and the Intestacy Rules determine who can be appointed as the Administrators of the estate.
The role of executor or administrator can be a tedious one. The deceased's estate may involve valuable or complex matters and an executor or administrator is personally liable for administering the estate correctly.
An executor or administrator can instruct a solicitor of their choice to assist them with the administration of the deceased's estate and the legal fees are settled by the estat
There are various procedural stages that need to be carried out after identifying all of the deceased's assets (property, investments and possessions) and all of their liabilities (debts ranging from loans to utility bills), in order to determine the value of their estate before the distribution of the deceased's estate.
Our solicitors will ensure that your will...
Our team can draft powers of attorney whether they relate to health related issues or finances. We can register the power of attorney with the Office of the Public Guardian. We also make applications to the Court of Protection in order to protect and safeguard vulnerable people who lack the mental capacity to make decisions for themselves. These decisions may relate to the person's finances or their health and welfare.
Only a lasting power of attorney (LPA) will remain valid if your loved one becomes incapacitated. The lasting power of attorney will allow your older family member to appoint you or another trusted person to make decisions on his or her behalf such as health care decisions, paying bills and managing assets.
Powers of attorney can also designate power generally, if the older person would like someone to take over all aspects of his or her financial affairs while he or she has capacity.
Orchid Solicitors aim to make the legal process clear and straight forward by providing high quality advice and representation in matters involving estate administration. If you would like more advice or to book a consultation please contact our team at our office in Ilford at the details below.