Wills, Trusts and Probate

Dealing with administration of an Estate of somebody who has died.

Under the Administration of Estates Act, you are entitled to get a solicitors’ help.

Cocks Lloyd have a team made up of experienced professional staff who deal solely with this work, every day.

We know what needs to be done next. We can deal with all legal procedures and requirements, accounts and records involved in administering the estate. This can ease the burden, at a difficult time. We can ensure that the estate is dealt with correctly without delay, minimising the worry and stress for you or we can deal with specific tasks for you within the estate, for example, getting probate, property transfers, variations to save Inheritance Tax, or dealing with trusts created by the Will or Intestacy. We can advise you if any claims are made against the estate.

If you are an Executor, it is a heavy responsibility, and you are accountable to the estate’s beneficiaries. Executors who act wrongly may have to pay compensation, and once administering an estate has begun, an Executor cannot drop out even if things turn out to be more difficult than expected. Cocks Lloyd can deal with the legal requirements for you.

We are regulated by The Law Society and are controlled by strict professional rules and professional standards for all clients’ reassurance and protection.

The head of the department is a member of ‘STEP’ – The Society of Trust and Estate Practitioners – an organisation for practitioners who specialise in these matters. He is also involved at a local University in teaching the law of trusts.

MAKING YOUR WILL

Why should I make my Will?

• You decide who benefits from your Estate.
• If you have a partner to whom you are not legally married, it is very important.
• You can decide to leave legacies to friends, family or charities (of whatever sum you choose).
• You choose who you want as Executors to deal with the administration of your Estate.
• You can appoint a guardian for infant children.
• Carefully drafted Wills can save a large sum of money in Inheritance Tax.
• The expense involved is not large.
• Peace of mind.

Things I need to consider before making my Will

• Whom to name as beneficiaries?
• Make an estimate of the total value of your Estate
• Consider who you want as your Executors (and ask them if they are willing to do it)

Making a trust

A trust is the formal transfer of assets to two or three named people (your “trustees”) with instructions that they hold these assets for the benefit of others. Trusts can be designed to take effect during your lifetime or after your death, in your Will. Depending upon circumstances, they can be used as part of an estate planning strategy with taxation in mind, or for family or personal reasons to protect assets from being owned outright by family members.

Out of office visits can be arranged.

Enduring Powers of Attorney and Lasting Powers of Attorney; Court of Protection matters or Office of Public Guardian matters.

Legal Mechanisms exist for giving people legal rights to help look after the affairs of other people. Many clients wish to put in hand formal arrangements to nominate someone else to have their authority to help look after their financial affairs, for various reasons.

If people cannot make decisions themselves about their financial and other affairs, it may be necessary to involve the Court of Protection or Office of Public Guardian.

“Living Wills”

These are more properly known as Advance Directives. You can sign a document setting out the circumstances under which you would not want to receive life-prolonging medical treatment if you became seriously ill in the future and you were incapable of making your own healthcare decisions.

For more information contact:

Steve Evans - sol@cockslloyd.co.uk
Mathew Jones - sol@cockslloyd.co.uk
Jenny Monahan - j.monahan@cockslloyd.co.uk

or alternatively telephone: 024 7664 1642