Tax

The Tax, Trusts and Probate Team covers all areas of wealth and estate planning and administration, including the following:

• Wills & Inheritance Tax Planning
• Estate Administration
• Powers of Attorney & Care for the Elderly
• Trusts

The Team consists of a broad mix of experienced tax and trusts practitioners with over 75 years’ knowledge between them:

Martin Beames (Senior Associate)
Chris Strange (Probate Manager)
Barbara Matthews (Legal Executive)
Lisa Virdee (Legal Executive)

Wills & Inheritance Tax Planning

One of the few certainties in life is death. When you die, something has to happen to all your wealth, no matter how small or large that may be. Bereavement is a difficult experience, but if you die without making a Will (intestate) the law sets out very particular rules about which family members are entitled to receive what and these rules will not always give the anticipated result.

To avoid such problems it is important that everyone should have a Will. You can use a Will for many purposes, including:

• Provision for a spouse/civil partner or a co-habitee
• To provide for children, disabled relatives or second families
• Protection of assets for future generations
• To reduce Inheritance Tax
• To avoid disputes between family members after you have died
• Arranging what happens to your business

For many people, having worked hard all their lives paying their taxes along the way, the prospect of their family having to pay a further tax on their wealth when they die (Inheritance Tax) can be very worrying. Questions such as, “How much will we have to pay”, “How do my family raise the money to pay it when much of my wealth is tied up in my house/business”, and of course, “Can I do anything to reduce that Inheritance Tax bill” are frequent ones that we hear.

Our Team of specialists have many years experience in helping our clients address any issues they have about Inheritance Tax. We will look at your personal circumstances and advise you of the best way forward in a practical, pragmatic and straight-forward manner.

If you would like further advice on drawing up a will or how Inheritance Tax may affect you, and what, if anything, you can do to address that, please contact info@rawlisonbutler.com

Estate Administration

Losing a loved one is a stressful time in itself, without having to worry about legal matters. It can be confusing if you have been left to deal with the legal issues relating to the financial affairs of someone who has died. The process can be long and complicated, depending on the nature of that person’s assets and where they are situated.

The dedicated team here at Rawlison Butler LLP can provide all the expert advice and assistance you need in dealing with the affairs of a person who has died:

• Acting as Executors/Administrators (the people legally responsible for dealing with a person’s estate after they have died)
• Administering the estate of a person who has died whether there is a Will or not
• Contacting any financial institutions to sell or transfer assets
• Dealing with shares, property or business assets whether in the UK or abroad
• Paying bills and liabilities
• Dealing with the Inheritance Tax authorities
• Dealing with Income/Capital Gains Tax issues
• Obtaining the Grant of Probate/Letters of Administration (the formal documents that enable you to collect in a person’s wealth)
• Contacting or tracing beneficiaries and paying monies due to them
• Finalising all matters relating to a person’s affairs after they have died

If you would like further advice on making a Will, please contact info@rawlisonbutler.com

Powers of Attorney & Care for the Elderly

With advances in modern medicines and treatments of illness, people are generally living longer. However, with an ageing population there is a greater need for assistance to be made available.

For a person who is concerned about who will look after their affairs for them if they become incapable of doing so themselves, or indeed for family members who have a relative who is becoming infirm, there is a potential solution.

A Lasting Power of Attorney can give one or more people the power to deal with your financial affairs on your behalf, subject to whatever limitations or restrictions you choose. It is also possible to draw up a different Lasting Power of Attorney, by which you can appoint one or more people to make decisions for you about your health, care and welfare if you become unable to do this yourself.

In situations where a Lasting Power of Attorney cannot be drawn up, we can assist you with the process of applying for a Deputyship Order to the Office of the Public Guardian.

Our Team have vast experience in advising on issues surrounding the elderly, and in dealing with the Office of the Public Guardian/Court of Protection

If you would like further advice on making a Lasting Power of Attorney or other matters relating to the care of the elderly, please contact info@rawlisonbutler.com

Trusts

The concept of a “trust” may often conjure up images of properties tied up in complicated arrangements for many years. This is a perception that is unwarranted in the modern age, where trusts are used for many purposes from preserving assets for future generations to saving Inheritance Tax.

Our dedicated team have vast experience in the modern use of trusts and can advise on all relevant matters:

• The creation, variation and termination of trusts
• Inheritance Tax and Capital Gains Tax advice
• Appointment and retirement of trustees
• Advising trustees generally
• Trust accounting
• Income Tax and Inheritance Tax returns
• Making distributions to beneficiaries
• Preparation of ancillary documents

If you would like further advice on matters relating to the setting up, administration or winding up of trusts, please contact info@rawlisonbutler.com