Hannah Howe

A Will is an important legal document that distributes your assets after death. Having the right Will in place provides peace of mind that your wishes will be followed.

In your Will, you can choose who to leave assets to, appoint guardians for your children, nominate who handles the administration of your estate, provide for vulnerable family members, and make sure your pets are taken care of. You make the decisions that impact your family and your assets.

If you don’t have a Will, the law directs who inherits your estate. To ensure you get to make the decisions, it is important to put a Will in place and keep it up to date.

It is essential to get expert advice to ensure your wishes are clearly defined, and will be followed when you are no longer here. Hannah can assist in all aspects of making Wills, from the simplest to the most complex.

When someone dies, their estate must be administered. Probate is the process of dealing with the estate and ensuring that all aspects are sorted out. This involves finding out what assets the deceased person owned, establishing the value of each asset, settling their liabilities, finalising their income tax affairs, collecting in or arranging for the sale or transfer of assets, and distributing gifts made in their Will.

It might be necessary to apply for a Grant of Probate, and to calculate and pay Inheritance Tax. This involves submitting the correct information and legal forms to HM Revenue & Customs and the Probate Court.

The executors should provide full estate accounts to the beneficiaries, and retain records in case of any queries in the future. Depending on how complex the estate is, the probate process can take many months.

Whether there is a Will or not, Hannah can help ensure that all loose ends are tied up and the estate is fully and correctly administered.

Trusts can be created by Will or during lifetime, to protect assets and manage wealth. They can be used to manage personal injury compensation, provide for loved ones, minor beneficiaries, or those who are vulnerable. Trusts can also be used to reduce inheritance tax, or to shield assets for the future.

There are different types of trusts available, depending on what you want to achieve. Each type of trust has its own rules and tax implications.

This is a complex area of law and it is important to get the right trust for your circumstances. Hannah provides comprehensive advice and assistance in all aspects of setting up and managing trusts.

Powers of Attorney

Creating a Power of Attorney means the people you have chosen can assist in the management of your finances, or in decisions regarding your health and welfare, in case a time comes when you need help with this.

Knowing a Power of Attorney is in place can give you peace of mind, as well as making it easier for loved ones to care for you and speak on your behalf.

If you lose mental capacity and don’t have a Power of Attorney, it can be difficult for someone to assist you. A court application may be required, with extensive forms, recurring costs, and ongoing court supervision.

For peace of mind, speak to Hannah about setting up a Power of Attorney, so the people you love and trust can help you.

Estate Planning

Inheritance Tax can be a significant expense if your estate is above the threshold. Hannah can advise on how to mitigate your tax liability and make best use of the allowances available.

Planning for the future can involve a combination of carefully structured trusts, gifts and investments, as well as suitable Wills and Powers of Attorney, to ensure that you and your assets are protected, both during your lifetime and after your death.

Hannah regularly works with IFAs and accountants to assist in creating strategies that maximise the wealth that can be passed down to future generations.

Leaving a gift to someone who is vulnerable can cause a variety of problems. They may lack mental capacity, or be vulnerable due to additional needs, impaired understanding or awareness, or struggle with addiction or other challenges.

Leaving money to them outright may mean they lose entitlement to state benefits and care packages. The inheritance then has to be used until it runs out, when a fresh application for support must be made.

Inheriting money after losing a parent, carer or trusted adult can mean they become susceptible to financial abuse, or attract people with inappropriate intentions who seek to influence or harm them.

Leaving money into a trust specifically designed for the vulnerable can protect the person and the inheritance. Hannah can help you create the most suitable type of trust to protect your loved ones.