Wills and Estate Planning
Making a Will avoids complications and further upset for loved ones at the time of your death. If you die intestate your assets may be divided up by the courts which is distressing and costly.
You can retain control over the distribution of your possessions and investments after your death with the correct legal advice and assistance.
At Nicholas J Scullion Company we offer a professional and confidential service. We take the time to ensure your Will is tailor made to reflect your wishes.
- Only a Will gives you control over your assets at death.
- Your will can reduce the risk of exposure to inheritance tax.
- We can help make it easier for your friends and relatives at a difficult time.
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Wills & Inheritance Tax
Wills are an essential part to everyone’s life and therefore, there is increasing pressure for people to make them. We can’t stress enough how important a will actually is. It is not only for what happens to the property but also to look after dependents and to make the most of the taxes included.
A will is important because without one there are a set of rules that are in place that decides what happens to the property of the deceased and generally it doesn’t reflect on the persons wishes.
It is vital for co-habitee’s to make a will because if there is no will then there is no protection for the surviving person.
At Nicholas J. Scullion & Co. we can draw a will according to your wishes.
Without a will there is no indication of who is to assume responsibility of making the funeral arrangements, and whatever arrangements are made, may not be of the persons wishes.
A will can make the administration of the person’s estate quicker and less expensive.
The easiest way to avoid paying inheritance tax is by drawing up a will. In the past it only used to be the rich that were concerned with inheritance tax. However, with today’s increased house prices and modern economy finds more people falling into the band where inheritance tax must be paid.
Solicitors can offer advice on making a tax efficient will and the potential savings can be substantial!
Inheritance Tax
All assets including home and savings can be subject to inheritance tax.
It becomes more important if the person would like to leave an investment portfolio or property that they would like to keep active within the family.
It is a complex process but planning in advance can significantly reduce the level of impact.
The solicitors at Nicholas J. Scullion & Co are able to advise you on how to make full use of exemptions and relief’s in order to mitigate this tax.
Contact Us
Contact us now at 105 Cadzow Street, Hamilton ML3 6HJ - 01698 283 265
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2008 Nicholas Scullion & Co, Solicitors in Hamilton, Lanarkshire, Scotland.
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