Wills & Probate Bournemouth

Understanding Wills and Probate

Navigating the intricacies of wills and probate can be an overwhelming prospect. We understand the challenges families face when dealing with estate planning and administration, and our experienced wills and probate lawyers are here to provide clear, compassionate guidance and expert legal support for you, ensuring your loved ones' futures are secure.

Wills and probate are fundamental aspects of estate planning, ensuring your assets are distributed according to your wishes after you pass away. A comprehensive understanding of these processes empowers you to make informed decisions and safeguard your beneficiaries from potential disputes and unnecessary inheritance tax burdens.

What is a Will?

A will is a legally binding document that outlines your wishes regarding the distribution of your assets after your death. Without a valid will, your estate will be distributed according to the rules of intestacy, which may not accurately reflect your wishes.

Our dedicated team of wills and probate lawyers in Bournemouth will assist you in drafting a bespoke Will that addresses your specific circumstances, reviewing and cross-referencing your existing Wills to ensure they remain accurate, and amending them through a codicil or a new will as needed. This ensures your wishes are upheld and your estate is distributed exactly as you intend, reducing the potential for disputes among your loved ones.

The Importance of Probate: Common Misconceptions

Probate is the legal process of administering a deceased person's estate, which involves validating the will, identifying and valuing assets, paying debts and taxes, and distributing the remaining assets to the beneficiaries. Probate can be a complex and time-consuming process, especially when dealing with complex estates or disputed wills. You will be provided with comprehensive estate administration services, assisting executors with their responsibilities and ensuring the process is handled efficiently and professionally.

Numerous misconceptions surround wills and estate planning, leading to confusion and potential complications. It’s important to understand common myths so you can make informed decisions. Some frequently held false beliefs include:

Only wealthy individuals require a will; however, a will is essential for anyone who wishes to control the distribution of their assets and protect their loved ones.
A will is a one-time document that never needs updating; life events such as marriage, divorce, or the birth of a child can significantly impact your estate plan, requiring periodic review and revision.

Our team help clarify these misconceptions and provides tailored advice to address your specific needs.

Probate Services We Offer: Estate Administration

Executors administer the estate of someone who has passed away and carry out the instructions set out in a will. Up to four people can be nominated to act as Executors.

Executors can be held personally liable for mistakes during estate administration, so awareness is vital. Our lawyers guide you through estate administration or handle related matters, such as securing a Grant of Probate or dealing with Inheritance Tax returns.

Handling Disputed Wills

Being involved in a dispute concerning wills, trusts, and estates can be incredibly disruptive and distressing for your loved one’s estate. Finding a swift resolution that minimises conflict and costs is key. Alternative dispute resolution is our priority for resolving the most complex wills, trusts, and estate disputes through mediation and negotiation. If a case cannot be resolved through these means, we also have the expertise to support you in determining a claim in Court.

The Role of a Lasting Power of Attorney

Here’s how a Lasting Power of Attorney (LPA) allows you to appoint trusted individuals to take control of your affairs when you cannot do so yourself. Specifically, you can make two types of LPA:

A Health and Welfare Lasting Power of Attorney, which provides an attorney with the authority to make decisions about any medical care you receive, care home accommodation, life-sustaining treatment, and your daily routine.
A Property and Financial Affairs Lasting Power of Attorney.

Tax Considerations in Wills and Probate

Understanding the impact of tax is a key part of estate planning. With meticulous tax planning, our private client team can guide you through the complexities and ensure compliance while optimising tax efficiency. Whether you require advice on estate or wealth planning, our lawyers in Bournemouth are on hand to assist.

Understanding Inheritance Tax

Inheritance tax is levied on the value of an estate when a person passes away. Understanding the thresholds, exemptions, and reliefs is crucial for effective tax planning and management. Without help, you will successfully navigate the intricacies of inheritance tax, ensuring your estate is structured in a way that minimises tax liabilities while still meeting your wishes.

Trusts as Tax Management Tools

Trusts have the potential to be highly complex, so tailoring a document to suit your circumstances and the benefits you are looking to provide to your beneficiaries is essential. Clarifying your options and understanding the process of creating a trust can be a practical tool for managing tax liabilities within an estate.

Expertise of Our Wills and Probate Lawyers: Why Choose Dutton Gregory as Your Probate Lawyers?

Our priority is our clients. Our Wills and Probate lawyers tailor advice to individual needs, seeking strong professional relationships. Members of the Society of Trust and Estate Practitioners (STEP) and the Association of Law Costs Draftsmen (ALL), we demonstrate our high level of expertise to foster an approachable and understanding relationship. When selecting probate lawyers in Bournemouth, consider our commitment to understanding your unique circumstances and providing tailored, expert support.

Arranging a consultation with our wills and probate lawyers in Bournemouth is easy. We provide many convenient ways to reach us and discuss your needs. Our office is located in the heart of Bournemouth, serving clients throughout Dorset, including Poole and Dorchester. Our approachable team is ready to assist you with all your estate planning and administration needs, offering a friendly and courteous service every time.