Wills and Probate

A will allows you to specify who will distribute your property after your death, and the people who will benefit. The majority of individuals in the UK do not have a will and are unaware of its importance, or do not see it as a priority.

If you have no will, your property could be distributed according to the intestacy laws.

Formulating an estate and family succession plan that minimises your tax liability and protects your assets is essential. The more you have, the less you should leave to chance.

We can work with you to ensure that more of your wealth passes to the people you love, through planned lifetime gifts and a tax-efficient will.

Drafting your will

Start by considering the following:

Who?

Who do you want to benefit from your wealth? What do you need to provide for your spouse? Should your children share equally in your estate – does one or more have special needs? Do you wish to include grandchildren? Would you like to give to charity?

What?

Should your business pass to all of your children, or only to those who have become involved in the business, and should you compensate the others with assets of comparable value? Consider the implications of multiple ownership.

When?

Consider the age and maturity of your beneficiaries. Should assets be placed into a trust restricting access to income and/or capital? Or should gifts wait until your death?

We can help you evaluate your requirements and write your will. We fully comply with the STEP Code for will preparation in England & Wales.

Probate

We can advise personal representatives through the probate process from the initial stages, the preparation of the Inheritance Tax Account and Probate Application Forms, dealing with the administration of the estate and distributing assets and the preparation of estate accounts. We can also accept appointment as executors where we are named in a will and undertake the entire estate probate process. These services can be invaluable during the very emotional and stressful time following a bereavement of a family member or friend.

Our initial consultation is without charge or obligation. We can discuss our fee structure during the meeting and usually agree a fixed or capped fee to reflect the level of support provided. In the event that the probate becomes contentious we can refer the personal representatives to a panel of solicitors qualified in this area.

In March 2015 we were licensed by the Institute of Chartered Accountants in England and Wales (ICAEW) to carry out the reserved legal activity of non-contentious probate in England and Wales.

To find out more about how Charterhouse can help you with your wills and probate please contact Raj Jiwani and complete our questionnaire and email it to us to review.