Wills for the pre-divorce/dissolution client and all other
will types, living wills, lasting powers of attorney, trusts.
We provide Wills for the pre-divorce/dissolution client including Will Trusts dealing with:
- the prospect of divorce/dissolution and the protection of assets from divorce.
- the protection of assets for children/selected beneficiaries/children from a previous marriage/relationship.
- Wills supporting a Pre-Nuptial Agreement.
In a non-divorce context we provide Wills:
- Parents Wills with family trust provision designed to exclude an adult child’s potential future inheritance under such Parents Will from being designated as an asset to be taken into account on a future divorce of that adult child under the Matrimonial Causes Act 1973.
- All other Wills other than in a divorce context.
Also available are Living Wills (advanced medical decisions).
We provide a Tax Planning Service designed to reduce and in many cases eliminate liability to Inheritance Tax.
Even though a Will is being made in a pre-divorce context or otherwise, this is also an appropriate moment to plan for the future beyond. With an increasing number of people living longer with impaired mental capacity, the preparation of a Lasting Power of Attorney at the same time as making a Will, ensures the selected person(s) (an attorney) is appointed to carry out your wishes in your lifetime in the event of you becoming mentally incapable.
In the same way that your Executors/Trustees must be selected with great care when making your Will, equally you must be extremely cautious in selecting your Attorney.
We also deal with cases where the Donor of a Power of Attorney is being financially abused or manipulated by the Attorney. We will oppose any abuse of trust or breach of fiduciary duty to the elderly and the vulnerable and we give no quarter in the defence of the interests of the elderly from unscrupulous, dishonest or self-serving attorneys.
We can also, where appropriate, help provide a range of Flexible Life Interest Trusts, Lifetime Discretionary Trusts and other legal mechanisms designed to protect and preserve a client’s assets from the prospect of future nursing fees.
The proposed capital exemption limit for such fees (now delayed) per person is £72,000 but clearly this is only the initial proposed set limit and will be revised upwards and regular intervals. This figure also excludes board and lodging which can easily amount to £10,000 – £15,00 p.a.
The decimation of the value of an individual’s estate through the forced sale of a home and the allocation of such sale proceeds towards the costs of residential care can ruin inheritance planning.
We offer a range of Flexible Life Interest Trusts, Discretionary Lifetime Settlements with leasebacks over the family home and other Trust Instruments designed to protect the client’s assets.
We can manage this in conjunction with Inheritance Tax Planning dependant upon the client’s circumstances. Unlike many other companies, we stay with our clients afterwards. We assist you with your tax forms and we guide you in the prudent management and administration of the trust to ensure maximum benefit to the client and minimum disruption to the client’s legal and financial affairs.
This approach can sometimes also be useful in the settlement of financial disputes in divorce where the Parties agree upon the financial settlement as between themselves but subject to the condition that the assets pass to the children of the Parties on the death of each divorcing Party.