Wills, Probate and Trusts

Our Private Client lawyers are very experienced in their field and only practice in this area. They  include members of the Society of Trust and Estate Practitioner’s (STEP)  Nicola Cochran in Richmond, David Roper in Staines and Helen Greenwood in Tadley, and also members of Solicitors for the Elderly, Nicola and David and Elizabeth Groom in Tadley, and  all the lawyers are members of the Law Society’s private client section and  partner Nicola Cochran, is also an associate member of the Association of Contentious Trust and probate specialists.

Wills

Having a well written Will is important to ensure that those you want to provide for after your death are properly looked after. It is usually good practice to take advice from an experienced professional. They will be able to explain the pitfalls of writing your own, such as poor execution, and guide you through the process, which an unregulated, unqualified will writer may not be able to do.

A badly written Will or the lack of one means that your estate will be dealt with under the intestacy rules. The people who benefit will not be the ones you would necessarily provide for. In some cases, the estate will go to the Crown.

It is therefore particularly important to seek advice if the person you want to provide for is your unmarried partner or bears with you some other kind of relationship that would make him or her unable to benefit otherwise. The Law may not automatically recognise unmarried partners as having the same right as a married partner. Even if you are married without a Will, your spouse alone may only receive a certain amount from your estate.

In addition, where the estate is outside the nil rate band, currently set at £325,000, careful tax planning can ensure that you minimise the Inheritance Tax liability on your death. Our Private Client lawyers have the experience and knowledge necessary to advise you on the best way to deal with this liability. 

Administration of Estates

When a person dies somebody has to administer their estate. If the deceased left a Will they will have appointed an Executor. If the deceased dies without a valid Will it will be for an Administrator to apply for a Grant at the Probate Registry.

Executors’ and Administrators’ responsibilities include:

• Locating and identifying assets and the liabilities of the estate
• Administering the estate according to the law by collecting in those assets and determining the beneficiaries
• Applying to the court for a Grant of Probate or Grant of Letters of Administration
• Calculating inheritance tax and claiming the nil rate band and transferable Nil Rate Band if appropriate
• Dealing with income tax and capital gains tax to the date of death and in the administration period

We appreciate that some Executors wish to take on an active role in the adminstarion of an estate. At Rowberry Morris we are happy to deal with the administration from start to finish or just assist you when needed.

Trusts

We all know what trust means in our personal lives. We may have confidence in a friend or partner to consider our feelings or not to spend all the money in the joint bank account.

The legal definition of the term ‘trust’ is not dissimilar in that the person setting up the trust (the Settlor) is trusting one or more persons (called Trustees) to make sure assets benefit one or more beneficiary. There is a legal obligation on the Trustees to act in accordance with the terms of that trust i.e they may be expected to pay the income from the trust assets to one beneficiary.

There are many different types of trust, which can be set up in an individual’s lifetime or under the terms of your Will. A trust may be set up for a number of the following reasons:

• To ensure that the trust assets pass to specific beneficiaries
• To ensure that assets are ring fenced if a surviving spouse goes into local authority care
• To ensure that an irresponsible beneficiary does not receive the money until they are able to manage their own finances
• To provide for a disabled beneficiary

Rowberry Morris can provide advice on setting up a trust, the ongoing management and the termination of trusts.

Care Fees and Long Term Care

Long term care is an area of concern for many individuals. The law and regulations are rapidly evolving and becoming more complex. In the event you move into a care home, important decisions need to be made and we can provide specialist legal advice to prevent or mitigate problems that may arise at a later date. This will leave you in the best position to plan your care. You may need advice on the following:

• If you should be charged for care and if so how much?
• If your spouse should be expected to pay towards your care?
• If your spouse is able to live in your home?
• Lasting Powers of Attorney or Deputyship Orders