Probate and Estate Administration
Probate is a process in law that is followed to protect a person’s financial assets after their demise. The will executor applies for a Probate before assets are distributed. They must complete a Grant of Probate or in the absence of a will, they will apply for a Letter of Administration. The documents are then taken to court to seek consent. After the granting of probate, the administrator or executor will administer the estate; dependent on the stated terms by the owner of the will.
We will assist you in the following ways:
- Manage and execute your will
- Prepare letters of administration
- Offer advice on capital gains, income, and inheritance tax
- Give you referrals to reputable accountants
- Probate grants
A will executor is in charge of carrying out the following tasks:
- Establish the contents of the estate
- Prepare forms on inheritance tax
- Pay any debts relating to the estate
- Obtain Grant of Probate
- Collect assets belonging to the estate
- Identify the estate beneficiaries
- Distribute financial assets to those who are stated in the will
If any errors occur when administering the estate, the executor is held personally liable. This is why you are advised to enlist the assistance of an expert solicitor, to undertake the administration of the estate in their place. Contact our team of probate solicitors if you need assistance in estate administration.
Wills and Codicils
Redkite Solicitors are of the opinion that everyone should create a will when they are alive and healthy; this will make life easier to those left behind. For this reason, our specialists on wills are ready to help anyone who seeks their help preparing a will that will make sure their families are provided for later in life.
We assist in preparation of the vital elements that constitute a will:
- Appoint guardians
- Plan inheritance tax
- Protect assets from divorce, bankruptcy or remarriage
- Protect disabled children
- Create trusts for underage children
- Appoint a suitable executor in situations of potential disagreements
Powers of Attorney
Illness and ageing pose a threat to a person’s ability to make credible decisions on their own. This is why people give the power of attorney to another party who can make appropriate decisions regarding their finances and welfare, if they are unable to make those decisions themselves. When you give a power of attorney to an individual, you sign a document that is later filed at the Office of the Public Guardian.This is for confirmation that an individual has agreed to be making fair and reasonable decisions on your behalf, when you can no longer do so yourself.
Therefore, if you are aware of someone who seems to be having difficulties in making credible decisions, encourage them to seek a power of attorney immediately. The reason to do so is because one has to grant a power of attorney to someone in good mental function, not when they are already sick or too aged to make decisions. When an individual can no longer make reasonable decisions on their own, it poses a danger to their estate, especially in the presence of greedy individuals around them who may have an unhealthy interest in their estate.
How we can help
- Draft Lasting Powers of Attorney
- Draft welfare and health powers of attorney
- Register enduring powers of attorney
- Advise the existing attorneys
- Handle disputes arising from powers of attorney
Types of Power of Attorney
There are two types of power of attorney; general and lasting power of attorney
General Power of Attorney
This is given temporarily by someone to another, to control their affairs for a set period of time. This can happen when one is travelling abroad or they may be hospitalized for some months.
Lasting Power of Attorney
This lets the estate owner appoint people to decide as they would, if they are in a position not to do so themselves. This guarantees that your interests will be safe when you are not around to protect them as a result of death or loss of mental capacity to make decisions.
Lasting power of attorney (LPA) is in two forms:
- LPA for Financial Affairs – allowing the representative power to take charge of your finances and properties.
- LPA for Health and Welfare –the person in charge can make decisions that specifically concern your health matters and general well being.
An individual is appointed, through the Court of Protection, to take charge of the interests of another person who does not present the right mind or health to do so themselves. This provision is made when the said individual had no power of attorney prepared.
This can happen through disease, accident or as a result of old age. If this happens to someone close to you, you can seek the services of solicitors to have deputyship instituted to protect their assets.
Once granted, the deputy is in charge of attending to the individual’s welfare and financial matters until they can do so themselves.
How we help
Our experts on deputyship assist in the ways:
- Make statutory wills
- Handle deputyship disputes
- Apply to the court of protection
- Offer deputy advice and assistance
Visit our offices in Wales or contact us and we will arrange to meet you at your preferred time and location. We are always ready to answer your questions; in person, over the phone or via email. Do not let your loved ones suffer upon your demise while you can do something about it now. It is dreadfully unfair for someone to squander your assets, in your later years or if your health and mental well being deteriorates. You can and should take relevant steps now. Protect your interests and get peace of mind.