|
Everyone should have a
Will. At a difficult time don't leave your loved ones
with more grief. If you don't have a Will there is increased
legal work and more cost to those left. Making a Will
is quick, easy and inexpensive and in certain circumstances
inheritance tax can be avoided or reduced by drawing
up a Will in the correct way. We can advise on what
to do and leave your family with one less worry.
If your estate is
over £325,000 your beneficiaries
could face a tax liability of 40% on the excess. If you leave your
estate to your husband/wife there is no taxation
liability but you could be storing a problem for your
family on the second death.. If your spouse has not used their exemption
this can be carried forward and give a further exemption
on the second death of
£650,000.
Careful planning of your affairs can lead to substantial
taxation savings.
Have you also
wondered about who would take the decisions regarding
your future care in the event of long term illness such
as dementia or who would consent to your medical
treatment?
At D W Shaw we believe in Law For Life. The law can help
you anticipate and deal with very real and distressing
situations. A Power of Attorney is one such mechanism.
This document in simple terms authorises another person
or other persons to deal with your affairs and financial
business should you become unwell, infirm or incapable.
It can be tailored to suit individual circumstances and
extended to cover matters relating to your personal
welfare.
The arrangement can be set up to have immediate effect
or alternatively be delayed until needed or until you
decide. The important point is that provided you have
put a Power of Attorney in place you have control of
this.
If an adult is
unable to make decisions about their own welfare or
financial issues because of mental incapacity, it may be
necessary to appoint a Guardian to look after their
affairs.
We have experience in dealing with Guardianship issues
for adults with life long learning difficulties and also
adults who develop conditions such as dementia.
A Guardian may be a family member or close friend. If
there are complicated financial issues the Guardian may
require to be a professional person.
We can give advice and assist in making the appropriate
application to the Sheriff Court after considering each
adult's individual needs.
|
