Estate planning is a crucial task, allowing individuals to control how their assets are distributed and managed once they have passed away. The process ensures that their loved ones are provided for, and their wishes are carried out.
At Heringtons, we appreciate that estate planning may feel somewhat daunting, there are plenty of associated tasks, and it can be difficult to know how to approach them all. Rest assured; our expert estate planning solicitors can provide tailor-made advice to support you every step of the way. We take a friendly and sensitive approach, ensuring that legal support is accessible and stress free.
Our specialists can help clients with all aspects of estate planning, to include:
- Estate planning legal advice
- Will drafting
- Inheritance tax planning
- Trusts
- Estate administration
- Power of attorney
- Succession planning
Get in touch with our estate planning solicitors
For advice about resolving your family law issues, contact estate planning solicitors in East Sussex. You can contact us at our offices in Battle, Bexhill on Sea, Eastbourne, Hastings or Rye.
Or fill in our online enquiry form and we will be in touch shortly.
How we can help with estate planning
Estate planning legal advice
Our expert solicitors can provide estate financial planning legal advice, aligned with your personal circumstances and preferences.
We can start by providing an initial consultation to gauge your unique circumstances, family situation, liabilities, and assets. Our team will help you to establish your objectives and goals, tailoring our legal advice accordingly.
Will drafting
Our specialist solicitors can provide comprehensive support with wills and estate planning. Drafting a Will is a key part of the estate planning process. We can help you to create a Will perfectly tailored to your needs, to ensure that your assets are distributed as you wish once you have passed away.
Receiving expert legal support when drafting a Will is recommended to ensure that your Will is correctly executed, and legally compliant.
As well as our Will drafting services, our probate solicitors can also provide legal support for Will executors and administrations who are handling probate processes or those clients facing contentious probate issues.
Inheritance tax planning
With the right inheritance tax planning strategies, we can help you to reduce the amount of inheritance tax owed on your estate, ensuring that your estate is not subjected to more inheritance tax than necessary.
Our estate planning solicitors can advise you on utilising various strategies for inheritance tax planning, including lifetime gifts and trusts.
Trusts
Trusts are an incredibly useful tool for estate planning, our expert solicitors can support you with the creation and management of various types of trusts, including life interest trusts, discretionary trusts, and charitable trusts.
To discuss how we could help you, please get in touch with our expert trust solicitors.
Power of attorney
For many of us, there will come a time where we need support to handle our financial and health and welfare matters.
By appointing a Power of Attorney, you can ensure that another person, usually a loved one, has the legal authority to manage your affairs. In order to appoint an Attorney, you must still have mental capacity, at the time of appointment.
At Heringtons, our Wills & Power of Attorney solicitors we can help you to appoint an Attorney, explaining all of the relevant processes and obligations.
Succession planning
If you run a family business, succession planning forms an important part of the estate planning process. This process involves establishing who are the most appropriate business successors, to take over the business once the owner has passed on.
Our expert estate planning solicitors in East Sussex can support clients with all aspects of succession planning process, including:
- Carrying out an assessment of the company assets to appreciate the goals and circumstances, and any concerns there may be with regard succession planning
- Evaluating the structure of the company, and providing advice on what might be the best succession planning strategy
- Drafting the required legal documents, which detail how the client would like the business and assets to be transferred to the successors
Frequently asked questions about estate planning
What is estate planning?
Estate planning is the process of managing and organising a person’s affairs and assets, allowing for efficient distribution of their assets when they pass away.
The process involves creating a plan that covers all aspects of the person’s estate, including personal belongings, business interests, investments, properties, and any other assets.
The goals of estate planning include:
- Ensuring that the person’s assets are distributed as per their wishes once they have passed away, and that their loved ones are financially secure
- Reducing the amount of inheritance tax payable on the estate
- Ensuring efficient estate administration, preventing disputes or delays
What are the 7 steps in the estate planning process?
The seven steps of the estate planning process include:
- Assessing the individual’s circumstances, assets, and liabilities
- Drafting a valid Will
- Inheritance tax planning strategies
- Setting up and managing trusts
- Choosing estate beneficiaries
- Appointing a Power of Attorney
- Reviewing your estate plans, for instance, when you experience a change in circumstances
As experts in estate planning law, we can support clients with all aspects of the estate planning process.
How much does estate planning cost?
The cost of estate planning varies according to the estate, it is influenced by factors such as how complex the estate is, and what specific services are needed.
When you choose to work with us at Heringtons, we will ensure to provide an accurate quote early on, so that you have a clear understanding of how much you can expect to pay.
What does an estate planning solicitor do?
An estate planning solicitor focuses on estate and will planning, covers matters such as:
- Estate planning advice
- Creating a Will
- Inheritance tax planning
- Setting up and managing trusts
- Appointing a Power of Attorney
- Business succession planning
Why is estate planning important?
Unless you make a plan for your estate, your assets may not be distributed as you would have liked, and consequently, your loved ones may be left in a difficult position.
It’s also important to ensure that your estate is not subject to more inheritance tax than necessary. Additionally, estate planning can involve setting up a Power of Attorney, providing a loved one with the legal authority to handle your important affairs, if there comes a time where you need support.
Get in touch with our friendly, estate planning solicitors in East Sussex
For advice about resolving your family law issues, contact estate planning solicitors in East Sussex. You can contact us at our offices in Battle, Bexhill on Sea, Eastbourne, Hastings or Rye.
Or fill in our online enquiry form and we will be in touch shortly.