Probate & Estate Planning

LFCS LEGAL | Trusted Legal Services > Probate & Estate Planning

Contentious Probate and Trust Advice

Overview: Contentious probate involves legal disputes related to the distribution of a deceased person’s estate, while trust advice deals with disputes over the management or use of a trust.
Eligibility: Beneficiaries, executors, trustees, or other parties who believe they have been unfairly excluded from an estate or trust may require legal assistance.
Duration: Contentious probate cases can take several months to a few years, depending on the complexity and willingness to reach a settlement.
Detailed Description: Lawyers help resolve disputes over wills, trusts, and estate distribution. They represent clients in court proceedings or mediation to ensure the fair distribution of assets. Legal professionals also provide guidance on interpreting wills and trusts, challenging the validity of a will, or seeking compensation for breaches of trust. They aim to protect the interests of beneficiaries, trustees, or executors while adhering to legal obligations.

Court of Protection Applications and Appointments

Overview: The Court of Protection handles matters concerning individuals who lack the mental capacity to make decisions about their finances, healthcare, or personal welfare.
Eligibility: Family members, caregivers, or legal representatives seeking to make decisions on behalf of an incapacitated person can apply to the Court of Protection.
Duration: The application process can take several months, depending on the complexity and urgency of the case.
Detailed Description: Legal professionals assist with applications to the Court of Protection, advising on the appointment of deputies or decision-makers for incapacitated individuals. They guide clients through the legal process, ensuring that decisions made are in the best interest of the person concerned. Lawyers also handle disputes regarding the appointment of deputies or contest decisions made by the Court.

Cross-border Issues

Overview: Cross-border issues in probate and estate planning arise when a deceased person has assets or beneficiaries in multiple countries, creating legal complexities.
Eligibility: Individuals with estates or beneficiaries located in different jurisdictions may face cross-border probate challenges.
Duration: Resolving cross-border probate issues can take several months to years, depending on the jurisdictions involved and the complexity of the estate.
Detailed Description: Lawyers help navigate the differing legal systems, tax implications, and inheritance laws of various countries. They coordinate with foreign legal advisors to ensure that estate administration is compliant with all relevant laws. Legal professionals also assist with cross-border disputes over inheritance, ensuring that wills and trusts are properly executed in multiple jurisdictions.

Estate Administration

Overview: Estate administration involves managing and distributing a deceased person’s estate according to their will or, if there is no will, in accordance with the law.
Eligibility: Executors, administrators, or beneficiaries responsible for managing the distribution of an estate require legal assistance.
Duration: Estate administration can take several months to over a year, depending on the size and complexity of the estate.
Detailed Description: Lawyers assist executors or administrators with probate applications, paying debts, collecting assets, and distributing the estate according to the will or intestacy laws. They provide advice on tax liabilities, ensure compliance with legal obligations, and handle disputes among beneficiaries. Legal professionals also oversee the legal formalities required to transfer property and other assets to beneficiaries.

Inheritance Family Provision Claims

Overview: Family provision claims arise when individuals, such as children or dependents, feel they have not received a reasonable share of a deceased person’s estate.
Eligibility: Spouses, children, cohabitants, and other dependents can make claims under inheritance laws if they believe they were inadequately provided for in a will.
Duration: The process of making a family provision claim can take several months, especially if the case is contested.
Detailed Description: Lawyers represent claimants or executors in disputes over the distribution of an estate, ensuring that the provisions of the will are fair. They provide guidance on the merits of a claim and negotiate settlements to avoid litigation. If court action is necessary, legal professionals represent clients to achieve a fair distribution of the estate.

Inheritance Tax Planning

Overview: Inheritance tax planning involves structuring an individual’s estate in such a way that minimizes tax liabilities for beneficiaries after their death.
Eligibility: Individuals with significant estates who want to reduce inheritance tax liabilities for their heirs may seek legal advice on tax planning.
Duration: Inheritance tax planning is an ongoing process that can be initiated at any time and is reviewed regularly to accommodate changes in tax laws and personal circumstances.
Detailed Description: Lawyers provide advice on strategies such as creating trusts, making lifetime gifts, and drafting wills to minimize inheritance tax liabilities. They assist in ensuring that the estate is structured to take advantage of tax reliefs and exemptions, protecting more of the estate for beneficiaries. Legal professionals also help clients navigate the complex regulations around inheritance tax and ensure compliance with tax reporting requirements.

Lasting Powers of Attorney

Overview: A lasting power of attorney (LPA) allows individuals to appoint a trusted person to make decisions on their behalf should they lose mental capacity in the future.
Eligibility: Any individual over the age of 18 who is mentally capable of making decisions can set up an LPA for their future.
Duration: The process of setting up an LPA typically takes a few weeks but can last for the lifetime of the person creating it.
Detailed Description: Lawyers assist clients in drafting and registering LPAs, ensuring that they appoint someone to make decisions regarding their finances or health and welfare in the event of incapacity. Legal professionals provide guidance on the rights and responsibilities of attorneys and ensure that the LPA complies with legal requirements. They also advise on how to manage disputes if there is a disagreement over the powers granted to an attorney.

UK Trusts and Related Tax Advice

Overview: UK trusts are legal arrangements where one party (the trustee) holds assets for the benefit of others (the beneficiaries). Trusts can be used for estate planning, asset protection, or tax planning.
Eligibility: Individuals wishing to manage assets for the benefit of others, reduce tax liabilities, or protect family wealth may seek to create trusts.
Duration: Setting up and managing trusts is an ongoing process, though drafting a trust deed can take several weeks.
Detailed Description: Lawyers advise on the creation of trusts, drafting trust deeds, and ensuring compliance with UK tax laws. They help clients choose the right type of trust based on their needs, such as discretionary trusts, life interest trusts, or bare trusts. Legal professionals also provide guidance on tax implications related to income tax, capital gains tax, and inheritance tax, ensuring that the trust is managed in the best interest of the beneficiaries.

Wills

Overview: A will is a legal document that outlines how a person’s estate should be distributed after their death.
Eligibility: Any individual over the age of 18 who wishes to plan for the distribution of their estate can create a will.
Duration: Drafting a will typically takes a few weeks, but the document remains valid for the individual’s lifetime, unless it is updated or revoked.
Detailed Description: Lawyers assist individuals in drafting wills, ensuring that their wishes regarding the distribution of their assets are clearly documented. They advise on how to structure the will to minimize tax liabilities and avoid future disputes among beneficiaries. Legal professionals also ensure that the will is properly executed and stored and provide updates as personal or financial circumstances change.