Probate
Probate, the process of collecting together a deceased person's estate and dividing it between the beneficiaries, involves a range of activities. We work with executors and administrators of wills at various stages during probate, including:
- obtaining valuations of assets
- calculating and minimising the impact of inheritance tax
- dealing with the court's grants of probate
- closing bank and building society accounts
- disposing of property and shares in accordance with beneficiaries' wishes preparing accounts
- administration of the estate
Trusts
Trusts are a tax-efficient way of leaving assets to future beneficiaries, outside the Inheritance Tax net. Once tools used only by the very rich, they are now in more common use, as the value of property and estates continues to rise. Trusts are particularly useful for holding shares in private companies as part of a family financial or tax plan.
They are divided into four main types. We can help you choose and set up the most suitable one for your needs. Recent legislative changes mean that this area requires increasingly specialist knowledge which we apply in all cases. We also provide full accountancy services, including preparing accounts and tax returns. If appropriate, we act as trustees or executors.
Let us advise you on a trust to:
- provide funds for your children's or grandchildren's education or maintenance
- restrict access to property by future beneficiaries
- provide for a physically or mentally disabled family member
- give to charity
Key contacts
See also
Protecting your wealth flyer
For more information
Contact Ellacotts on 01295 250401 or use our contact form.
