It is a common misconception that estate planning is only relevant to those who are wealthy or retired. In reality, almost everyone has an estate of some form to leave and, no matter how substantial or modest, proper planning can greatly reduce any complications that arise in the event of death. Estate planning is often put off because people consider themselves too young, too busy, not suitably wealthy or not well enough informed. Delaying these arrangements can be detrimental in the future, especially with regard to those who are left behind.
We can provide expert advice on all related aspects, including:
Wills and powers of attorney in Scotland, Estate planning, the setting up of trusts, advice on Inheritance tax and capital gains tax.
If you need help to make a Will for your family and loved ones and to plan how you would like your estate to be dealt with, we provide a friendly and cost efficient service, either in our offices or at your home.
When a person dies without having made a valid Will, they die “intestate” and the law then decides who the beneficiaries will be and the extent to which they will benefit; sometimes with surprising consequences. Where children are concerned, the law provides that they will be entitled to payment of their share at age 16. By making a Will you controlling what should happen.
A Will is an expression of your wishes, not just in relation to what you own or have an interest in. It has several other important functions, including:
Guardianship of children – No-one likes to think that they might leave behind young children, but when this happens it is important to know what the parent would have wanted. It can help to avoid unnecessary disputes in families at an already difficult time. Financial provision should also be considered.
Funeral instructions.