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How to find a good estate planning lawyer in the United Kingdom

Estate planning is a critical part of financial planning, but something most of the population procrastinates about. Yet writing a will, creating a trust, or power of attorney and maximising your loved ones' inheritance by minimizing taxes are all important matters you donu2019t want to leave to chance.<br><br>A good estate planning lawyer can help you to prevent crucial missteps and assist you in adjusting your plans as your circumstances, and laws, change.<br>

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How to find a good estate planning lawyer in the United Kingdom

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  1. How to find a good estate planning lawyer in the United Kingdom Estate planning is a critical part of financial planning, but something most of the population procrastinates about. Yet writing a will, creating a trust, or power of attorney and maximising your loved ones' inheritance by minimizing taxes are all important matters you don’t want to leave to chance. A good estate planning lawyer can help you to prevent crucial missteps and assist you in adjusting your plans as your circumstances, and laws, change. Benefits of using a good estate planning lawyer There are a variety of benefits to using an estate planning lawyer, including: Help shoulder the burden of managing a deceased’s estate. Specialist probate solicitors who understand the administration process thoroughly. Legal professionals who understand the legal jargon used in documentation. ● ● ●

  2. Liaising with HMRC, insurance companies, pension providers and other representatives in settling any liabilities attributed to the estate. This includes closing any relevant accounts and obtaining life insurance funds on your behalf. Understanding the different tax liabilities that an estate incurs, including any potential tax reliefs that can be applied to reduce the tax burden. Completing and filing all the necessary documentation on your behalf, including applying for Grant of Probate or Letters of Administration, if no will has been left by the deceased. Ensuring all relevant tax exemptions and reliefs have been applied, that HMRC’s tax calculations are accurate and ensuring payment deadlines are met. Collecting all the estate’s assets, obtaining valuations (if necessary), and distributing the assets in accordance with the deceased’s wishes. If no will has been left, they will organise equal distribution between family members. Preparing and submitting final estate accounts that detail all estate transactions/payments, assets sold and distributed, debts settled and other related costs. ● ● ● ● ● ●

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