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Wills and Powers of Attorney

Wills and Powers of Attorney

A team of tax and estate planning specialists who concentrate on advising individuals, families and trustees both in the UK and internationally

There are a number of important reasons why it is better to have a Will, rather than leave the distribution of your estate to the Intestacy Rules.
With a Will, you can:

  • choose who you want to act as Executors;
  • appoint Guardians for your children;
  • leave your estate in a tax-efficient manner to ensure that full use is made of your inheritance tax (IHT) allowances, including the residence nil rate band
  • Incorporate trust provisions to benefit a spouse or partner but prevent them from having unlimited access to the capital. This can be particularly useful in the event of second marriages where there are likely to be competing interests between the surviving spouse and step-children.
  • Reduce the likelihood of claims against your estate
  • Establish trusts to protect disabled or vulnerable beneficiaries

The Intestacy Rules make no provision for unmarried couples; if you are unmarried and you want your assets to go to anyone other than close family you will need to have a Will.

If you own property in more than one jurisdiction, or live abroad, this can give rise to additional complications because you need to make sure that your Will complies with the laws of more than one jurisdiction.

We can advise you on the implications of different succession laws and procedures in other jurisdictions (if necessary alongside local advisers).
All individuals should consider having powers of attorney to ensure that in the event of illness or incapacity their affairs are managed by persons of their choosing. If you become incapacitated without having a power of attorney then others will have to apply to the court of protection to help manage your affairs on your behalf.

We advise on the creation, registration and management of powers of attorney.

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