Your Family's Future: Our Care for Your Legacy
Maximising Your Inheritance through Thoughtful Savings, Driven by Care
We’ll spare you the effort, stress, and hassle of managing probate. We regularly reduce taxes associated with estates and probate.
Nurturing Your Tomorrow: Guiding Your Family's Legacy
PROTECT YOUR LEGACY: THE IMPORTANCE OF WILLS IN ESTATE PLANNING
A significant portion of adults in the UK, close to two-thirds, have not taken the step of preparing a Will outlining how they intend to distribute their assets upon their passing. This situation exposes them to unnecessary complications and potentially higher taxes due to the application of intestacy laws. Individuals who already possess a Will should consider periodic reviews, particularly during significant life events or as part of routine planning efforts. This ensures that the document remains up to date and accurately reflects their present desires.
SECURE YOUR FAMILY’S FUTURE WITH TIMELY ACTION. IMPORTANCE OF TRUST STRUCTURES AND AVOID POTENTIAL PITFALLS.
Trusts can be established either during your lifetime or arranged through your will to safeguard assets after your passing. These arrangements provide you with posthumous control over your assets. You can place money or property within a trust while still dictating how those assets are utilised. Trusts serve as protective shields for your assets, ensuring financial stability for your loved ones’ future. Trusts offer a solution to sidestep hefty inheritance taxes and facilitate the efficient passing on of your money, shares, and equity. Additionally, they offer security for individuals vulnerable due to disability, learning difficulties, or financial circumstances beyond their control.
Unlike a will, trusts offer intricate beneficiary allocation. For instance, a beneficiary can reside in a property, but if sold, the proceeds could benefit another. Trusts grant you the flexibility to secure your legacy exactly as you envision, down to the smallest detail.
With foresight and strategic planning, ensure that your legacy remains unshaken. Reach out to us for discreet, professional guidance and secure a legacy that withstands the test of time. Here are the key reasons to set up a trust.
• Make sure your children inherit at the right time, avoiding premature transfers and ensuring minors receive support, even if they can’t legally inherit.
• Assisting individuals who struggle to manage their finances effectively.
• Providing managed funds for your loved ones’ with mental health concerns or financial management challenges.
• Preserve your family’s wealth for your children and their children’s future.
• Safeguarding your family’s assets from unexpected challenges.
• Protecting against potential divorce, care home fees or bankruptcy threats.
• Smartly handle taxes with well-thought-out trust plans.
NAVIGATING ESTATE ADMINISTRATION WITH ARISTONE SOLICITORS
We are trusted by both family members and professional executors to handle a wide range of estates, from simple to complex, due to our sensitive yet practical approach during times of loss. Aristone Solicitors collaborates closely with accountants and advisors to guide executors and administrators through the estate administration journey, even for intricate and cross-border estates.
SCOPE OF LEGAL WORK
We provide comprehensive assistance throughout the estate administration process.
This support includes:
- Streamlining the grant application process for a smoother procedure.
- Arranging meticulous valuation of estate assets and liabilities.
- Thoroughly determining the estate’s scope for probate and inheritance tax assessment.
- Providing expert guidance on inheritance tax efficiency to optimise benefits and savings.
- Formulating vital legal documentation for probate or letters of administration.
- Collaborating with HMRC to ensure compliance with inheritance tax regulations.
- Acquiring necessary tax clearance from HMRC for a seamless process.
- Methodically resolving estate obligations and collecting assets.
- Ensuring alignment of estate distribution with the stipulations of the Will or intestacy laws.
- Skillfully drafting post-death deeds of variations and disclaimers to meet specific needs.
TYPICAL TIMELINE
Estate administration typically takes 6 to 12 months, depending on the complexity of the case. Here’s an overview of the main stages and their timelines:
- Initial Investigations: 2-4 months (depends on third-party responses).
- Securing grant of Representation: 4-5 months (if no issues or delays arise with the Probate Registry).
- Asset collection: 2-3 months (upon receipt of the Grant of Representation).
- Distribution: 1 month (depends on the number of beneficiaries).
ESTIMATED WORKLOAD
The estimated legal workload ranges from 20 to 30 hours. Kindly refer to our fees page for a transparent breakdown of costs.
RESEALING FOREIGN GRANT PROBATE SOLICITORS
In situations where an individual has passed away while domiciled or residing outside of England and Wales, it’s possible that the issued grant (or its foreign counterpart) might not inherently authorise the appointed personal representatives to administer assets situated within England and Wales.
ARISTONE SOLICITORS CAN ASSIST WITH:
- Evaluating foreign documents to ascertain resealing eligibility.
- Collaborating with foreign jurisdictions.
- Formulating the resealing application, inheritance tax form, and coordinating with relevant HMRC.
- Lodging the application with the probate registry on the personal representatives’ behalf.
- Verifying the resealed document’s accuracy.
- Gathering English and Welsh assets.
- Distributing assets to the personal representatives or beneficiaries.
Read what our Clients Have to Say
At Aristone, we understand the priorities of our clients – – getting the job done, providing a stress-free experience, and managing costs effectively. Their testimonials and feedback are a testament to our commitment to excellence and our dedication to meeting these our clients’ needs.
Frequently Asked Questions
By transferring funds or assets into a trust, subject to specific conditions, you release ownership. As a result, these assets could potentially be exempted from Inheritance Tax responsibilities upon passing, divorce asset distribution, bankruptcy or covering care home expenses.
We provide fixed standard fees for a select number of services, which are specified on our rates page. For other matters, the specific needs of the case will determine both the seniority of our team and the time required. We provide an estimate of these costs in a consultation with your solicitor.
Creating a Revocable Living Trust (RLT) sidesteps the high costs of probate proceedings, facilitating quicker asset transfer to beneficiaries. Assets named within the trust avoid the costly court route and often supersede those outlined in your will.
Acquired property prior to the marriage, through inheritance, or as a direct gift to one party during the marriage and solely titled in their name—are generally not subject to equitable distribution between spouses, unless particular circumstances dictate otherwise.
Read our latest posts
What was once a necessity has now taken precedence. In light of the current circumstances and the impact of COVID-19, the occurrence of unforeseen deaths has heightened. This underscores the importance of now prioritising the creation of your will.
ARE YOU OVER THE AGE OF 50?
Get your will with us without incurring any charges, as we recognise the significance of ensuring your wishes are honoured. Expect to receive a 5-page free report on ‘Things to think about before you make your will’ and a questionnaire from us, which you can complete to initiate the drafting of your will.
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