Estate Planning and Probate Service

Traditionally, Estate Planning and Probate Service has been a complex, expensive and potentially stressful process requiring a solicitor. HWB is one of the first accountancy practices in the region to obtain a licence from the Institute of Chartered Accountants in England and Wales to undertake probate work.

Suffering the loss of any loved one is hard enough and our service is tailored to your needs to give you peace of mind and assured wealth protection during the administration process.

The increasingly complex tax regimes involved in dealing with trusts and estate administration require specialist expertise. HWB can ensure that you will benefit from the best possible advice on how to minimise inheritance tax (IHT) liabilities while also seeking tax efficiencies in other areas.

Our team of specialists can offer you an initial 1-hour FREE consultation to discuss all aspects of probate and how we can help. We pride ourselves on our personal approach, offering a dedicated point of contact for you and overseeing your case throughout the entire process.

Tax Efficient Estate Planning

Our professional and discreet Estate Planning advisors can advise on and implement a range of techniques to assist with your Inheritance Tax planning. We can help you arrange your affairs carefully to ensure your family does not pay any more tax than necessary.

Our estate planning service includes:

  • reviewing your Will and suggesting adjustments
  • applying for Lasting Power of Attorney
  • making full use of gift exemptions
  • optimising lifetime transfers between spouses
  • considering a transfer of assets into trust or directly to other recipients

With careful planning and review we can help to ensure asset values are maximised by utilising our expertise in several specific areas including but not limited to;

Inheritance Tax

Inheritance Tax is generally payable where a person’s taxable estate is in excess of £325,000, although in some circumstances further allowances may also be available. Depending on your circumstances, careful planning can reduce your exposure to IHT and therefore increase wealth for your future generations. Our specialist advice will ensure that you make full use of all available tax exemptions.

Trusts

A trust can be created to aid wealth preservation, allowing assets to be passed down through generations in a secure and tax efficient manner. We can help with tax efficient trust formation, minimising both IHT and Capital Gains Tax (CGT), and advising on the most beneficial structure for your needs. We will also deal with ongoing advice, preparation of accounts, tax returns and share valuations.

Residence and Domicile Status

Your residence and domicile status will impact upon a variety of UK taxes including IHT and CGT. Even if you no longer live in Britain and have lived overseas for many years you can still be classed as a British domicile and therefore liable to UK Inheritance Tax.

Other countries have different rules on tax and where your assets go to. HWB has the experience and expertise to advise and assist you in this area, ensuring your legacy will be distributed as you wish.

A Flexible Probate Service

When someone passes away it will be time for the Executors of the deceased’s Will to begin administering the estate. The process of obtaining probate can be time-consuming and stressful. But we can help to alleviate the strain on individuals by assisting with any of the following areas:

  • working with the Executors to assist with legal responsibilities
  • handling taxation issues up to the date of death
  • collecting details of the deceased’s assets and liabilities & obtaining professional valuations where required
  • completing inheritance tax (IHT) accounts and forms
  • claiming any IHT reliefs or exemptions and calculating the IHT payable
    applying for and obtaining the grant of probate or guiding you through the process
  • dealing with capital gains and income tax liabilities of the estate
  • preparing tax returns through the administration period
  • compiling or selling the assets of the estate
  • settling any debts of the deceased and arranging IHT payments
  • identifying any potential tax savings through a variation of the Will within 2 years of the date of death
  • distributing assets to beneficiaries and paying legacies
  • preparing the final estate accounts

We offer a bespoke, cost-effective and professional probate service that covers all aspects of estate administration for our clients. Our flexible service means you can choose for us to assist with as much of as little as you need. Suffering the loss of any loved one is hard enough and our service is tailored to your needs to give you peace of mind and wealth protection during the administration process.

To find out more about our Probate Service and Estate Planning advice contact Stacey Steele on 023 8046 1234.

The HWBulletin

Our HWBulletins cover a range of subjects, including some of the services that we offer and an update of the recent changes that have, or will take place.

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