EVERYONE should consider making provisions for their dependants and loved ones for the future.
The private client department of Hallmarks Solicitors offers expert advice and service in relation to will drafting, administering estates and estate planning.
In respect of wills, many people assume that their money and property automatically passes to their next of kin, but this is not always the case.
If you do not have a will, or your will fails because it has not been prepared properly, then the law determines who inherits your estate. Furthermore, at present there are no provisions for unmarried partners, stepchildren or guardians of children. Even in the instance of a married couple, a surviving spouse often only inherits a share of the assets. Having no will or a poorly prepared will can therefore lead to dispute over your money and property.
If you have been appointed to administer an estate, usually known as an executor, the tasks involved can be daunting and complex.
As an executor you have the responsibility of obtaining probate, collecting the assets, settling any outstanding debts and sharing out the estate.
Sometimes there is the delicate task of trying to sort out disagreements with beneficiaries or those not left anything.
Stephen Climo, head of the probate department, says: "Here at Hallmarks we have the knowledge, experience and resources to ensure the whole process is completed promptly and smoothly."
Due to the recent rise in the housing market many more people now own property over the current inheritance tax threshold of £275,000.
Inheritance tax is charged at 40 per cent above the threshold and therefore no longer affects just the very wealthy.
Richard Wilkes, head of the private client department, says: "Inheritance tax and general estate planning is something many more people should seek expert advice about, to keep tax payments to a minimum."
Hallmarks can help with all your future planning requirements. For more information call 01905 726600 or e-mail enquiries@hallmarkslaw.co.uk
Fact file
Company
Hallmarks
Director
Julian Powell
Business type
Solicitors
Established
1790
Telephone
01905 726600
Web address
www.hallmarkslaw.co.uk
Email address
enquiries@hallmarkslaw.co.uk
Location
4-5 Sansome Place,Worcester, WR1 1UQ
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article