Wills, Trusts and Probate
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When a loved one dies the last thing you need are problems sorting out their estate. In order to gather in the money, sell shares or property and pay the bills, you will need Probate. If there is a will or letters of administration if not
Research shows that nearly two millions inheritors experience complications so that the usual six month period for settling an estate can take as long as three years.
The first priority is to have a will which should be properly drawn up. We have seen wills drafted by cut-price non lawyers which create enormous headaches and waste huge sums of money, often on tax which could have been avoided with proper legal knowledge and care. Complications over jointly owned property, mental capacity, arguments between relatives and a failure to deal with foreign owned assets can all cause complications. Expert advice at an early stage can avoid delays and expense later.
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Solicitors have a minimum £2 million professional indemnity insurance, undergo supervision and control by the Solicitors Regulation Authority and The Law Society and to become a solicitor in the first place involves a minimum of six years academic and practical training. Many will writing companies have none of these protections. As we have discovered, when things go wrong the company has often disappeared so, even if they were insured or had assets, our clients cannot get compensation.
We will advise on the best ways of minimising inheritance tax including the preparation of discretionary trusts and other tax efficient measures.
O'Donnells promise an expert, approachable, guaranteed service at a cost which is often less than large corporations who may offer to do this work. We will not be beaten by anyone on our standards of service.
We are not a Limited company ( Ltd Co ) nor a Public Limited company (PLC) nor a Limited Liability Partnership ( LLP ). The common theme of all these organisations is that they limit their liability to the public. Our service is underwritten by all the personal as well as business assets of the partners. As we do not shield our exposure behind limited liability we have every incentive to avoid complaints.
