Wills and Probate
Although not at the forefront of everyone’s mind, making a will is crucial if you want to decide who gets your assets after your death. Colman Coyle’s Wills and Probate department offers easy to understand advice and guidance in helping you to take care of your estate.
Even if you already have a will, Colman Coyle can help you make any adjustments or changes if necessary. As a rule we always advise re-visiting your will every three years to make sure you are happy with everything.
We offer advice in the following areas:-
Without one you cannot control what happens to your assets after your death. We can help you structure a will that clearly sets out your wishes. We can also advise you on:
- Estate Planning
- Appointing Executors, Trustees and Guardians.
If you wish you could consider appointing Colman Coyle as your sole or joint Executor/Trustee.
You can if you wish make a Living Will. These outline those treatments you do not wish to receive in the event of certain illnesses or an accident.
Our Wills and Probate department will talk you through all your options, providing you with all the advice you need to make an informed decision.
Deeds of Variation
It is possible for the beneficiaries and the Personal Representatives of an Estate to effectively “rewrite” the will of the deceased by creating a legal document called a Deed of Variation. Consequently the estate of the deceased may be distributed in a more tax-effective way. It is necessary to make a variation within two years of the date of death.
Colman Coyle will be happy to discuss whether this is a suitable option for you.
Lasting Power of Attorney
You can also make provision for someone during your lifetime, by making a Lasting Power of Attorney. Under the Lasting Power of Attorney you can appoint one or more people you trust to manage your financial affairs and make welfare decisions for you at a time when you are most vulnerable. Your attorney could be a close relative, a trusted friend or your professional adviser. If you do not make a Lasting Power of Attorney and need assistance, someone will need to make an application to the Public Guardianship Office to be appointed as Deputy.
Since October 2007 the Mental Capacity Act 2005 allows a person to appoint an attorney to act on their behalf in relation to financial and property matters if they should lose capacity in the future and also allows a duly appointed Attorney to make health and welfare decisions. These forms of Lasting Power of Attorney are more complicated and have to be registered with the Office of the Public Guardian before the attorney can act under the Power.
Colman Coyle can advise you on making a lasting power of attorney.
Probate is the process when someone dies, of making an application to the High Court to give executors/administrators permission to deal with the deceased’s property and affairs. The Executor(s) appointed in the deceased’s will, will be responsible for seeing to this matter, unless the deceased did not have a will, in which case the law sets out who can apply for probate.
Our probate department will:
- Give you professional help and guidance in obtaining the estate
- Advise on whether post death valuations can be used to save inheritance tax
For further information the above subjects please contact Robert Coyle, partner.