Our Wills and estate planning team prides itself on superior customer service. We will advise you on the most appropriate planning based on your individual circumstances.
Estate planning can seem both complex and overwhelming, however, we will help you understand the process in a simple and straightforward manner.
In choosing to work with us, you can expect the following:
Expert advice: Our Wills and estate planning lawyers have over three decades of experience.
Transparency: We ensure our advice is clear and relevant to your requirements. We simplify everything and advise you on every step, supporting you in making the best decisions for your and your family’s future.
Bespoke service: Your assigned Lawyer will work with you throughout the process, ensuring continuity and consistency in the care and guidance you receive.
To book a free, no-obligation consultation to start your estate planning journey, contact our estate planning lawyers here or call us on 0207 242 1666.
Our Wills and estate planning solicitors have a wealth of experience within a range of services linked with estate planning. Here are some of the services we provide:
Will writing Service: We can create your Will that confirms who will inherit your assets, property, and possessions (your estate) in the event of your death.
LPAs: A Lasting power of attorney provides a person of your choosing with the legal power to act on your behalf if you are unable to do so.
Trusts: Additional legal information within your Will to protect your beneficiaries and estate after your passing.
Living Wills: A document that legally evidences your wishes in the event of poor health or end-of-life care.
Inheritance tax planning: We carefully examine your estate and identify any inheritance tax liability. Our creative Wills and estate planning solicitors will advise on the type of Will that would be most suitable for you.
Succession planning: This process helps you determine who your successor will be. You should plan for this in a timely manner, regardless of whether you are detailing capital, responsibilities, or expectations for their succession.
Probate: Probate provides a legal process of evidencing a person’s last Will and testament, ensuring their wishes are carried out. We can help you with this process whether a Will is in place, or if there isn’t one. Our dedicated team supports you in distributing your estate with the legal expectations and requirements, you need, allowing you the time and peace of mind to grieve for your loved one.
Planning for a care home: Our Wills and estate planning solicitors have extensive experience supporting clients with planning for care home fees. We will structure your assets so that you’re prepared for costs in the future, whilst protecting your loved one’s inheritance.
If you would like more information on a service not listed here, please contact our Wills and estate planning solicitors who would be happy to discuss your enquiry further.
Wills and estate planning are often used interchangeably, but it’s important to recognise they don’t mean the same thing. Will planning can be a simple process, documenting your wishes and what is to become of your assets in the event of your death. Estate planning is a more comprehensive process incorporating various documents pertaining to securing your assets.
The administration process of an estate can take months and occasionally years to complete. Very few people have the knowledge and available time to dedicate themselves fully to the process and often, it can become increasingly frustrating and overwhelming. Please review our Probate page for further information.
We would always suggest speaking with a ‘Wills and estate planning solicitor’ to discuss your options and provide you with advice on your circumstances. Our probate team offers a free consultation, outlining for you the best course of action for the administration process.
If you are concerned about inheritance tax, then there are reliefs and thresholds available to you, ensuring that your exposure to inheritance tax is considerably minimised. Our expert Wills and estate planning solicitors will go through your circumstances with you, delivering the best strategies to limit the amount of inheritance tax placed on your estate in the event of your death.
Speak to one of our Wills and ‘estate planning solicitors’ in London to see how they can support you in this process.
Trusts can be used as a part of your Wills and estate planning.
If you have taken out life insurance then it might be beneficial to place the policy in trust. Placing a policy in trust can benefit you in many ways. Your policy amount can be paid immediately, rather than awaiting a grant of probate, you can ensure the people you want to benefit from your estate do and by placing a policy in trust you could also eliminate inheritance tax. Speak to our Wills and estate planning team to learn more about the benefits of trusts.
Another popular trust is the children’s trust. This allows your child to inherit up to the age of 25 years old. It has more tax benefits over other trusts.
Trusts are extremely useful tools, and you will need advice from experts like our ills and estate planning team to ensure that you have the right planning in place.
Get in contact with us through email or call 0207 242 1666.
Succession planning enables you to have full control over who will benefit from your wealth in the event of your passing. The succession plan will detail who will receive money or assets from your estate when this will happen and then carry out those decisions.
Succession planning involves creating a Will detailing who will inherit your assets. For more complex cases you may need to create additional steps like including a trust or working with family investment companies to protect your money. Our professional and understanding estate planning team in the UK can advise you on every option that is suitable to your circumstances, with a no-obligation, free consultation outlining what we believe will be best for you.
If you need to go into a care home or would like to know more about how to plan for this, our estate planning solicitors are here to help.
Speak with an expert estate planner now to ensure the best possible future for you and your loved ones. Get in contact with our team or call 0207 242 1666.
If you had a serious accident or stroke, or you developed dementia, you may not be able to manage your finances or make decisions about your care. A Lasting Power of Attorney (LPA) gives someone of your choice the ability to act on your behalf, should you be unable to act yourself.
There are two types of Lasting Power of Attorney – one for financial decisions (including property) and the other for health and care decisions. Both must be registered before they are valid. Everyone aged 18 or older should have both types of Lasting Power of Attorney.
The Property and Financial Affairs Lasting Power of Attorney can be used for decisions such as:
This type of Lasting Power of Attorney is a very convenient document that can be used if:
The Health and Welfare Lasting Power of Attorney can be used for decisions such as:
Once completed, Lasting Powers of Attorney can take a substantial amount of time to register with the Office of Public Guardian (OPG), 10 to 15 weeks is typical. The (OPG) charge £82 per registration. For the avoidance of any doubt, these fees will need to be paid directly by you on registration in addition to our fixed fees. Until these documents are registered, they cannot be used. So, it is wise to start the process as soon as possible.
Get in touch with our Wills and estate team today and we will ensure that your assets are protected and preserved for your loved ones.
Find the most suitable, London-based ‘Wills and Estate Planning Solicitors near you’. Call us today on 0207 242 1666 to book a free initial consultation or contact us for more information.
We can support you with how to structure your will, ensuring any tax applied will be as low as possible. There are a variety of ways you can reduce an inheritance tax bill, a few examples are:
Inheritance tax preparation is vital in protecting your estate for your loved ones. With conscientious estate planning, you can ensure your wealth is protected for the next generation – our wills and estate planning solicitors and tax advisers can discuss with you the best way to do this.
The laws surrounding international wealth have become increasingly strict over the last few years. With tax regulations continuously changing, if you hold assets in other countries, you’ll firstly need to consider whether you have residence status or are domiciled for the purposes of tax. You will also need to look at your offshore trusts and their tax laws and any financial agreements such as the Foreign Account Tax Compliance Act etc. In addition to this, you’ll need to consider different cultural elements for wealth held in foreign jurisdictions – for example Sharia law. These issues may impact ownership status of your assets and how you can leave them to your beneficiaries if you pass away. At Farani Taylor, we frequently work with international clients and have the expertise required to work with unique issues that arise. Contact us or call 0207 242 1666 to learn more about international estate planning.
High net worth individuals need to consider more stringent planning when creating an outline of what happens to their assets when they die. Whilst having greater financial security is beneficial, this type of client usually faces more issues with estate planning. Some of the issues high net worth clients face come from the complexities of the Uk law, particularly if you have international assets. Assets held in multiple structures, i.e. trusts and businesses etc can cause difficulties, along with asset protection, privacy protection and succession planning for businesses and family governance.Â
There are other matters that may add difficulty to your estate planning and we recommend seeking the support of a legal expert to help you go through them to source the best outcome for you. Our solicitors and tax experts will provide bespoke advice to protect your wealth for the future. We frequently work with high net worth and high profile clients, providing them with expert, confidential advice.
It’s vital to plan effectively to ensure you can take advantage of RNRB. The law is complex in this area and we firmly suggest seeking expert advice to ensure your estate receives the maximum tax relief it is eligible for. The Residence Nil Rate Band (RNRB) states that some estates over the inheritance tax threshold of £325,000 may qualify for an additional tax exemption of £175,000. Our tax specialists have the experience and knowledge you need to enable your estate to benefit from RNRB if it’s eligible. We’ll help you ensure your assets are structured properly with an updated will to reflect current legislation.Â
If you are looking for help and guidance or have a question relating to Estate Planning, please contact us today on +44 (0)20 7242 1666.
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