Planning for the future
Wills, trusts and executries
The right time to make a will and plan for your future.
It’s not a pleasant thought but a very necessary one. Planning and protecting your family and loved ones for when you are no longer here gives you and them peace of mind.
Our clients tell us that they took the decision to write a will due to a change in family circumstances, their personal situation or have suffered a health scare or have ongoing health challenges. Whatever your reason for writing a will, planning and protecting your family and their future is vital.
Making provisions for your family and agreeing how assets such as your home will be managed gives you peace of mind. We can advise you on what debts and taxes will need to be paid and document details regarding your last wishes and how they will be carried out. Having a will and a plan also gives those you leave behind the reassurance that everything you wanted has been achieved.
At DMD Law our experienced solicitors can advise you on your will as well as prepare a will that is tailored to meet your needs and that ensures your estate passes on to those whom you wish to benefit.
Power of Attorney
A power of attorney is an appointed and trusted relative or friend who is responsible for dealing with your financial affairs, property and if you so choose, decisions about your personal welfare, if in the event you are incapable of making those decisions yourself. Therefore, should you become ill or unable to make decisions for yourself then your power of attorney can act on your behalf.
Where a Power of Attorney has not been granted, we can advise relatives and friends on obtaining a Guardianship or Intervention Order.
There can be many reasons why you want to set up a trust for a loved one and/ or family member. You may have entered a new relationship, have children from a previous relationship you want to create a trust for, manage future inheritance tax or prevent your home from being sold to pay for your care in the future.
A living trust spells out exactly what your desires are with regard to your assets, your dependents, and your heirs. The big difference is that a will becomes effective only after you die. A living trust bypasses the costly and time-consuming process of probate, enabling your appointed trustee to carry out your instructions as documented in your living trust at your death, and also if you’re unable to manage your financial, healthcare, and legal affairs due to incapacity.
A living trust is most appropriate for individuals who have complex financial or personal circumstances, such as substantial assets, a blended family, closely held business interests, or property in other states.
At DMD Law we can advise and help you to set up a trust and managing it’s administration.
Inheritance tax planning
Having worked hard to earn and achieve your home and assets it’s natural that you want to plan and manage any future inheritance tax that may apply to your estate.
Planning for and managing the inheritance tax your family may become liable for, gives you the opportunity to look after your family. At DMD Law we can advise and help you plan and create a tax efficient strategy.
Selling an estate of a loved one?
At this very difficult and emotional time, sorting out and selling a loved one’s estate can feel like an overwhelming task. We offer advice, support and help in finalising the estate of a loved one after they’ve passed.
At DMD Law we offer advice, support and years of experience. We know where to start, the right questions to ask and how to manage even the most complex of estates.