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Losing a loved one can be a very stressful and unsettling time. There are a number of procedures that need to be followed, all of which carry extensive legal guidance and often ambiguous terminology.
Deed of Variation
A Deed of Variation can be used by the beneficiaries to change entitlements under a Will or Intestacy (most commonly for tax saving purposes) – it allows a beneficiary to re-direct his or her gift for the benefit of another individual (avoiding the same money being taxed twice). This is to be completed within two years of the date of death.
Inheritance Tax Advice
Our IHT Savings Trust is designed to allow individuals to remove taxable assets (normally cash) from their estate to reduce the inheritance tax liability. These funds are gifted to the trust (either as a single payment or several single payments) as a lifetime transfer. The Settlor can manage the funds if they are not used to benefit the Settlor.
Making a Will is an interactive process, so do not risk a life-time’s work by making a Will without meeting and discussing your requirements with one of our experienced consultants. more info
Power of Attorney
No one likes to think about losing the ability to manage their own affairs including handling a bank account, claiming benefits, looking after their tax affairs or transacting a house sale.