Executries, Wills and Powers of Attorney

Wills

If a person dies in Scotland without leaving a will there are laws in place with regard to the distribution of their estate. This can cause upset and anxiety at a particularly difficult time and can be both time consuming and costly. A will is an inexpensive way of providing for your dependents and will ensure that all of your assets will be dealt with correctly after your death and that your wishes are fulfilled.

Here at Neilsons our Wills Department can take care of this and can guide you through the process of making a will to take into account your wishes and also to look at ways in which Inheritance tax can be mitigated. Advice can be given as to steps that you can take during your lifetime to mitigate any such tax depending upon your own personal circumstances. We ask our clients to contact us on a regular basis to review their wills to take into account any new tax changes and changes in their own personal circumstances

Powers of Attorney

We strongly recommend the drawing up of a Power of Attorney to ensure that if you became incapable or unwilling to act in your own affairs then a trusted member of the family or friend would take on the role of Attorney. Very few people think of this when they are younger but accidents can happen and it may be that a Guardian would require to be appointed by the Court to deal with the administration of a person’s affairs. This is a very costly and time consuming process which could be avoided if a Power of Attorney had been drawn up when a person was capable of instructing the drawing up of a Power of Attorney. Powers of Attorney can deal with both welfare and financial affairs.

Executries

At Neilsons we deal with a wide range of executries from the small intestate estates to the larger estates which attract Inheritance tax. Our executry department can guide you through the process of what to do when someone dies which can be distressing for the family. We can advise the family on the provisions of the will, Deeds of Variation on the will and all other aspects of the administration of the estate. We can of course also deal with the marketing and disposal of any property.

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