Wills

A Will is one of the most important legal documents you will ever make and sign. However, many people put it off for another day – it can easily be one of those things you never quite get round to doing. However, it really is very important.

At Runnett & Co we can help you to prepare the correct Will for your personal circumstances.

So, why make a will? Firstly, if you die without leaving a will you will die intestate. This could cause complications for your family, especially if you have a wife or husband and children, as they may not be provided for in the way that you would have wanted.

In addition, there are a number of issues that could cause difficulty if you do not make a Will. These include:

• The Law will only allow your surviving husband or wife to receive a limited and fixed sum from your Estate
• If you are co-habiting with someone rather than being married
• If you wish to leave specific gifts to people or choose your Executors
• If you own a business or property (including a farm)
  
  

Tax Planning

If the joint Estate of you and your husband or wife is over £500,000 in value you should consider tax planning. This will ensure you do not pay more tax than you are required to by Law. We can advise you on how to protect your assets and arrange your affairs in order to minimise your tax liability. We can work with your accountant (if you have one) to achieve the best result for your personal circumstances.

Trust

A trust is a potential away to pass on your assets. We can advise on the formation of a trust and all the associated issues and draft the necessary documentation.

Enduring Power of Attorney

It can be a difficult issue but sometimes people can lose their ability to make decisions and conduct their own affairs properly. The Law calls this a loss of “mental capacity”. It can cause substantial difficulties for the person affected and for their relatives or friends who are trying to help.
If you have an elderly relative who is finding it increasingly difficult to deal with their affairs, or if you would like to plan ahead in case something happens to you it is worth talking to us about making an Enduring Power of Attorney. This would give authority to someone you trust to look after your affairs for you if you ever lost mental capacity. It places your affairs in safe hands should this be necessary in the future.

Probate

Would you know how you would sort out the affairs of a relative or friend who dies?

When a person dies somebody has to deal with their estate (the money, property and possessions left) by collecting in all the money, paying any debts and distributing the estate to those people entitled to it. The term probate means the issuing of a legal document to one or more people authorising them to do this. The Probate Registry issues the document, which is called a grant of representation.

We appreciate that you need to be able to turn to a legal adviser who can deal with your situation compassionately. Runnett & Co can help even if the person who has died did not make a Will. We understand that you will need help and support throughout the process.