For many years Samuel Phillips Law Firm has retained a strong and successful working relationship with...
Samuel Phillips Law Firm's family law department is widely recognised as one of the leading teams of experts in Newcastle.
Starting or growing a business can give the owners an enormous sense of pride and satisfaction.
Samuel Phillips Law Firm can count a number of north east educational establishments as regular clients. From this experience we understand the language and priorities of the education sector and can therefore deliver bespoke solutions that precisely meet the needs of the organisation.
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It should never be underestimated the importance of a carefully drawn up Will for protecting the wealth and financial security of your family after you have gone. If you have young children you will also want to ensure that your children are cared for by someone you trust, the appointing of a legal guardian upon your death is an important part of making your Will. A Will is also important for unmarried couples and those who have not entered into a Civil Partnership. It is a common misconception that your partner will inherit your property if you die without a Will. By making a Will you can ensure that your estate will pass to your partner.
It should never be underestimated the importance of a carefully drawn up Will for protecting your home from future residential care home fees and inheritance tax. It may be possible to reduce significantly the amount of inheritance tax payable if professional advice is sought early.
Following the loss of a loved one is often a difficult time and can be very distressing for those left behind. Our team of experienced solicitors can handle all aspects of estate administration and provide both a professional and personal service to you and your
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You choose who will receive your assets and in what proportion. You can mitigate inheritance tax and protect assets from residential care home fees if your surviving partner later moves into a care home. You can appoint guardians for your minor children.
Not necessarily. If you are not married or in a civil partnership then your partner will not inherit anything from your estate unless you make a Will. If you are married or in a civil partnership, what your spouse or civil partner receives will depend on whether you have children. Please see www.gov.uk/inherits-someone-dies-without-will for further information.
Any assets that you own jointly with another person will automatically pass to the surviving owner. All other assets will pass in accordance with the Intestacy Rules which are very strict in their application. You can find out what would happen to your estate if you do not leave a Will by visiting this website : www.gov.uk/inherits-someone-dies-without-will
If you do not make a Will you run the risk of someone within your family inheriting your estate which may not be in accordance with your wishes. There is nothing you can do about this unless you make a Will.
No. However, you run the risk of things going wrong if you don’t. For example, the Will may not be executed properly or the wording may imply two different meanings. This could lead to significant conflict between your family not to mention the legal cost trying to rectify the problem. A solicitor is therefore recommended, better still a solicitor who is a member of The Society of Trust and Estate Practitioners (STEP).
The Society of Trust and Estate Practitioners (STEP) is the worldwide professional body for practitioners in the fields of trusts and estates, executorship and related issues. STEP aims to promote the highest professional standards though education and training of its members. Solicitors who are members will have the abbreviation TEP meaning Trust and Estate Practitioner after their names.
Our usual charges for a straight forward Will are £250 plus VAT for a single Will and £400 plus VAT for mirror Wills for a couple. More complex Wills and instructions involving inheritance tax planning will often cost more due to the specific nature of the advice that is required. We offer a no obligation first meeting where your estate planning requirements will be discussed with you and a quote provided.
February 1, 2019
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