Probate and Tax Planning
A carefully prepared will is essential to ensure tax efficient passing on of family wealth. We have a century of experience of drafting Wills and are able to advise on traditional as well as modern approaches to succession matters. Modern families often involve complex relationships and we are able to see potential pitfalls and advise accordingly.
All members of the Private Client department are knowledgeable in personal taxation and we are able to incorporate tax planning into will drafting with the inclusion of trusts where appropriate.
We offer an executorship service which comprises all aspects of estate administration.
We often liaise with lawyers in foreign jurisdictions to ensure worldwide property is taken into consideration in the planning stages. We also advise on issues of residence and domicile.
Rudlings Wakelam will be pleased to assist you in planning for your future and the future financial security of your family with particular emphasis on long term tax mitigation and asset protection.
You can be assured of exceptional personal attention as we ensure we learn as much as possible about the personal circumstances and goals of our clients so that our advice matches their needs.
We have considerable experience in the creation and administration of private trusts (be they created inter vivos, incorporated in clients' Wills or created through variations of a deceased's estate) including;
- discretionary trusts
- accumulation and maintenance trusts
- voluntary settlements
- protective trusts and
- trusts for disabled persons.
We offer advice on Lasting Powers of Attorney, Enduring Powers of Attorney and Court of Protection work. Appointing an attorney to act on one's behalf in the event of serious mental incapacity is a very simple and convenient device but a step not to be taken lightly. We will advise both the attorney and the donor fully on the implications.
In administering estates, we act in a sensitive and professional manner. We advise Executors, Administrators and Beneficiaries on all aspects of estate administration and often act in this capacity ourselves. We obtain Grants of Probate and Letters of Administration depending on whether or not the deceased left a will. We deal with estates where assets are held in foreign jurisdictions and foreign estates with UK sited assets.
We can help with all tax aspects including the variation of Wills and other post death tax planning strategies. We prepare accounts, Inheritance Tax Returns and Estate Income Tax Returns or other accountancy and filing requirements in-house.
We find that fee structures recognised by the Court of Appeal, the Law Society and many other firms of solicitors generally produce unreasonable fees particularly in higher value estates. We will usually be happy to agree a significantly reduced fee structure. Further details can be provided upon request.
We specialise in all aspects of tax planning for individuals, charities and trusts. Rudlings Wakelam has extensive experience in planning for Inheritance Tax, Capital Gains Tax and Income Tax.
We use English trusts and offer a comprehensive personal tax service for both UK and international clients.
We also deal with issues of domicile and residency and tax investigations.