Helping The People Of Leicester With Wills & Probate

At Smith Partnership in Leicester, we provide comprehensive estate preservation and administration legal services.  We advise upon and draft Wills and Lasting Power of Attorney that help clients protect their homes and money for loved ones and we also help families navigate the process of administering an estate after the death of a loved one.   Our dedicated team of experts is equipped to handle even the most complex estates, from intricate financial and business matters to sensitive family issues. 

We have experienced the trauma and upset that losing a loved one causes and understand the costs and disputes that arise when there are inadequate plans to protect financial and personal matters. That’s why we understand how important it is to focus on delivering clear, practical, and jargon-free guidance to ensure the process is as straightforward as possible. Whether you need assistance with drafting a will, or handling the administration of an estate or trust, our experienced solicitors are here to support you every step of the way.

How We Help You

At Smith Partnership in Leicester, we offer a comprehensive range of services to guide you through all aspects of wills and probate. Whether you're planning for the future of your children and family, managing the estate of a loved one, navigating complex inheritance tax issues or need help with setting up a trust, our experienced team provides expert, tailored legal advice. We offer a transparent approach to the cost of our services so that you know what you will pay and take, jargon-free approach to ensure that your affairs are handled with care and with you at the heart of our approach every step of the way.

We offer a choice of ways to instruct us in person at our office or using video conferencing for your convenience. We recognise above all that understanding your circumstances and getting to know you will result in the best possible advice and service.

·  Will writing and estate planning tailored to your needs

·  Estate administration, including Grant of Probate advice

·  Inheritance Tax planning and lifetime gift strategies

·  Expert guidance on trusts and Lasting Powers of Attorney (LPA)

·  Support with contentious probate, inheritance disputes, and contesting wills

·  Trust creation and administration

Meet Our Leicester Private Client Solicitors

Why Choose Smith Partnership?

At Smith Partnership in Leicester, we understand that every situation is unique. Our team understands it is often a difficult time for you when you need our help and that is why we know how important it is to take the time to listen and offer tailored advice, drawing on decades of expertise to address your specific needs. 

With a focus on providing clear, compassionate and practical guidance, we ensure you have the support and legal insight needed to navigate any challenges related to wills and inheritance with confidence.

Contact our team today

To find out how our expert team of law solicitors can help you, contact us today on 0330 123 1229, send us an email via info@smithpartnership.co.uk or complete our contact form.

FAQs

A Trust can arise on death in a Will for example or a trust can be created by someone when they are alive. Trusts are where individuals called trustees look after an asset or money for a group of people called beneficiaries. Sometimes the Trustees are given a discretion to use the assets or money (the Trust Fund) for the beneficiaries in such way as they decide, and other trusts provide a specific event or age when the beneficiary receives a fixed share. A trust document which could be a Will or a Deed, names the trustees and beneficiaries, describes what the assets or money is that the trustees will hold and set out the terms upon which the trustees will administer those assets for the benefit of the beneficiaries.

Making a gift to a trust during your lifetime or when you die might be advisable if you wish to protect your assets and control how they are accessed and used by your intended beneficiaries. You might be concerned about your children or grandchildren inheriting at too young an age, or you might be concerned that a family member might be vulnerable or need financial support managing their finances in the future. Making an outright gift to an individual carries risks since they then assume all rights over the asset given away, which can have implications if they die, lose capacity, divorce, or go bankrupt. Making a gift to a trust enables you to manage these risks since it is the Trustees who have the legal powers to control and protect the trust’s assets.

That will depend on a number of factors and your objectives for the trust. Some Trusts provide for beneficiaries to have an entitlement to an income for life, a right to occupy a property, or a fixed share of the trust fund at some stage in the future; some discretionary types of trust are very flexible and allow the Trustees to determine, from time to time and in the light of changing circumstances, the most appropriate provision for the beneficiaries.

With a few limited exceptions, most trusts need to be registered with HM Revenue and Customs, even if they do not receive any income or capital gains. It is the responsibility of the Trustees to register the trust and to maintain the trust’s register with updates if anything changes, such as the death or retirement of a Trustee. Some very simple trust situations, such as co-ownership of land for multiple parties, or a parent holding an investment for a minor child might be caught be the registration rules.

Some trusts can be varied, either with the agreement of all of the beneficiaries, or by the Trustees exercising the legal powers given to them to alter the terms of the trust. Examples of such variations might be changing the beneficiaries or their entitlements, changing the age when a beneficiary inherits, or bringing the Trust to an end earlier than planned. Varying a trust can have both legal and tax implications, and the trust terms might stipulate that a specific number of Trustees must agree to this course of action or that a deed must be prepared.

This can be a complex area of the law. If a Trustee no longer has mental capacity to act, then it might be possible for them to be replaced or removed as a Trustee. Whether this can be done and how this is done depends on a number of factors, including the terms of the trust, if there are any other Trustees, and the nature of the trust’s assets. Even if the incapable Trustee has made a Lasting Power of Attorney, it might not be possible for them to be removed or replaced without a court order.

The legal document creating the trust (whether by deed or will) will stipulate when the trust will end. That might be when a beneficiary reaches a particular age or passes away, or it might be when the Trustees decide to bring the trust to an end. When a trust comes to an end, it may be that a deed needs to be prepared, and there are often legal and tax implications for the Trustees to consider before proceeding.