Wills

NEED A WILL?

We offer a fully comprehensive Will drafing service which meets all your requirements from simple standard Wills, to more complex Wills which include tax planning and Inheritance Tax advice.

TAX PLANNING ADVICE AND TRUSTS

Are you aware that the current inheritance tax threshold of £300,000 means that if you own your own home, you are likely to face a significant inheritance tax burden when you die? By judicious tax planning, this tax liability could be minimised.

We are also able to provide advice on various types of Trusts, including Nil Rate Band Discretionary Trusts which can be written into a Will to maximise a persons tax exemption.

PROBATE

If you are an Executor of a Will you may need legal advice on how to deal with the many aspects that need to be addressed. If the deceased’s estate exceeds £10-£15k it will be necessary to obtain a Grant of Representation. Hughes & Co. can help you through the many aspects that need to be addressed.

If a member of your family dies without making a Will (intestacy), we can help you by obtaining Letters of Administration and manage the process on your behalf.

ENDURING POWER OF ATTORNEY

An Enduring Power of Attorney gives an individual power to choose a relative, friend or professional person to manage their lifestyle and financial affairs should they become incapacitated or if they develop a decision-making disability.

If an individual takes this step while they are competent to do so, it will mean that they decide:

· who will make decisions on their behalf;
· what decisions they will make;
· who will manage their finances;
· and how their finances will be managed

By appointing an Attorney, an individual can ensure that if he or she becomes mentally incapable in the future, the person he or she trusts and wants to look after his or her affairs will be the one who does so.