Our advancing years understandably have an impact on our finances and welfare. To prepare and manage the consequences, it’s important to receive legal advice tailored to our individual circumstances. At Freelands Solicitors, our reputation of providing honest and practical legal advice to older people, their families and carers means we have a strong and loyal client base stretched across Lanarkshire.
Our Legal Services for the Elderly in Motherwell & Wishaw
A Will allows us to maintain control over how our property and possessions will be distributed to those we leave behind when we die. If we die without a Will, our belongings are distributed according to intestacy rules that are unlikely to marry with our intentions. A Will can also help avoid disputes arising amongst surviving relatives about what should be done with our property and provides them with guidance for carrying out our last wishes. To be legally valid and give effect to our intentions, a Will must meet certain specific requirements and be drafted as thoroughly as possible without ambiguities. Our solicitors regularly assist clients with the preparation or variation of Wills. We take a comprehensive and diligent approach, to give our clients peace of mind that their wishes have been clearly set out in legally binding terms.
Trusts are a useful legal tool that allow us to set money or assets aside for a particular purpose. It involves putting property into a Trust in order for it to be managed by other people (Trustees) for the benefit of a specific person or group (Beneficiaries). A Trust is established via a legal document known as a Trust Deed. A Trust Deed must be comprehensively and expertly drafted, clearly stating what purpose the Trust is designed to serve and who is to benefit. For example, a trust can be set up to help pay for the education of future generations or for a specific charitable purpose. Trusts can also be used to reduce Inheritance Tax liability. If you would like to know more about Trusts, please contact our expert solicitors.
Inheritance Tax Planning
It is possible to organise our property so as to limit Inheritance Tax liability. By engaging in thoughtful and strategic estate planning, such as making gifts, maximising the utility of tax allowances or putting property into a Trust, the value of your estate can be better maintained. At Freelands Solicitors, we regularly assist clients with estate planning and have been advising on Inheritance Tax liability and reduction of Inheritance Tax for many years. Please contact us for more information.
When a loved one dies, what they leave behind, known as their estate, will need to be dealt with and distributed. Executry is the process of winding up a deceased’s estate, which requires the executor, who is the deceased’s representative, to gather together their property, settle their affairs and distribute their assets according to the terms of a Will. If the deceased died without a Will, then what they leave behind will be distributed according to the intestacy rules. We regularly provide expert legal advice and support to executors and beneficiaries in respect of the winding up of estates. We aim to reduce the stress involved and work closely with our clients to help them navigate the process during what is often a difficult time.
Contact our expert Wills, Trusts & Executry Solicitors - Motherwell & Wishaw
At Freelands Solicitors, our specialist solicitors can provide straight-talking, honest and practical legal solutions. We provide expert legal advice for older people as well as their families and carers. If you need assistance planning for your future then please contact us using our online contact form. Alternatively, please call our Motherwell Office on 01698 442897 or Wishaw Office on 01698 442797.