Moving house is an ideal opportunity to review a number of other legal matters. We can help you with these.
We provide a wide range of services and advice to help you protect and manage your assets and affairs for the benefit of you and your family. We can assist with :
- Power of attorney
- Tax planning
- Estate administration
Having in place, and regularly updating, a will is important for all of us. It enables your assets to pass to those you wish to benefit on death, reducing the risks of the estate passing to others. Wills play a big part in asset planning so that an estate can be passed over in the most tax efficient way. Not having a will at death usually results in an increase in the costs and time scale for winding up your estate, potentially resulting in worry and financial difficulties for your nearest and dearest.
We can provide detailed advice on all of these matters and prepare wills to suit your needs and requirements.
Powers of attorney
Powers of Attorney allow another to manage our affairs on our behalf. They can range from a simple power to allow someone to sign a document for us during a temporary absence or indisposition to a Continuing and Welfare Power of Attorney which allows the attorney to act for us even after the loss of legal capacity.
Accident, illness or other misfortune can strike you at any stage in life leaving you legally unable to administer your own affairs. Who will run your business, sell your company, access your bank account, pay your or your family's bills, decide where you should live, or conduct any other legal or financial steps for you in that event? Unless a suitable Power of Attorney has been signed by you it might be necessary to apply to the Court for the appointment of a guardian. The costs of appointment of a guardian greatly exceed the costs of granting a Power of Attorney and the appointment can take considerable time, potentially creating difficulties.
Most of us should consider putting a Power of Attorney in place and we are happy to advise on the options and to draw one up for you.
Whether it is Inheritance Tax on death or Capital Gains Tax on the disposal of assets, we can advise on liabilities to tax and on the options to mitigate or avoid these potential taxes.
We offer a full range of exectury services, dealing with all aspects of winding up an estate, whether or not there is a will. Our aim is to distribute assets in cash or kind amongst beneficiaries as sensitively and efficiently as possible. Where necessary, we offer detailed advice on the use of Deeds of Variation to mitigate inheritance tax or to optimise distribution of assets to future generations.
Where a couple, married or in civil partnership or otherwise, buy property jointly it is important to consider how that asset (and others) will be shared between them and what should happen on separation. A legal agreement is the best way to regulate this.
If you have investment properties or perhaps are buying one for a child or other relative there may be legal structure or agreements that can be put in place to ensure financial efficiency or to protect assets.
If you would like further advice on any of these matters please call us on 0131 525 8600 or complete the form below.