Harratts Legal Services
SK2, Stockport
SK2, Stockport
We are Local experts in Wills, Lasting Power of Attorney and Estate Planning
Harratts Legal Services are a family run Estate Planning company. We specialise in Wills, Lasting Powers of Attorney and Estate Planning.
We strive to provide the highest possible level of customer service and satisfaction and aim to deliver our services in a way that is customer oriented, convenient (e.
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Wills
Wills
The vast majority of people put off making a Will for a variety of reasons, either believing that the people they would wish to inherit will automatically do so, or because they don't think it is relevant to them at this particular time.
The reality is that you can put off making a Will until it is too late and this poses all sorts of problems for the people left behind and could mean that some, or all of your inheritance, either goes to the wrong person or to the state.
Everyone needs to make a Will. In particular, anyone with dependant relatives must do so. Anyone who owns a property or has any type of asset which you would wish relatives, friends or charities to benefit from should also make a Will.
Making a Will enables you to plan exactly what will happen to your property (estate) following your demise. This ensures that those you would like to benefit actually do so, in accordance with your wishes and at the same time avoiding any disputes between relatives.
Power of Attorney
What If I Am Unable To Manage My Affairs?
There may come a time in your life when you are unable to manage your financial affairs or personal welfare, owing to some form of incapacity and you will need someone to act on your behalf.
Even when we are young, we can find ourselves incapacitated owing to illness or injury and it can be invaluable having a reliable person, who is able to manage your personal affairs and remove the anxiety of having unpaid bills, at a time when you most need peace of mind.
Similarly, as we get older, the need for an attorney increases as we are more prone to illness and injuries.
By creating a Power of Attorney in advance, ensures that if the worst were to happen, you can rest assured that both your financial affairs and personal welfare are in safe hands.
Trusts (Bloodline Planning)
How can I protect my children's inheritance?
Without the correct "Bloodline Planning" some, or all of your children's or grandchildren's (bloodline's) inheritance could be lost.
Protecting your inheritance for future generations is commonly referred to as "Bloodline Planning".
Bloodline Planning is ensuring that your assets reach your children, grandchildren and other relatives, rather than ending up in the wrong hands!
When assets are distributed to beneficiaries "absolutely", (i.e. they receive cash, property or other assets as a direct lump sum payment) so much can be lost.
These assets are then considered to be part of the beneficiary's estate and would be at risk of attack from any future divorce settlements, creditors and taxation.
The strategic use of Will Trust and Life Time Trusts can ensure that your children and grandchildren are able to benefit completely from the inheritance you want them to receive and at the same time, protect the family home and other assets from being lost to the costs of Long Term Care.
Assets not protected by a Trust face attack from...
• Distributing assets absolutely to beneficiaries exposes those assets to risk.
• Costley Probate Fees
• Creditors or Bankruptcy claims.
• The Divorce or separation settlements of future generations.
• Further Inheritance Tax bills.
Business Succession
How can I preserve my business assets for my family?
Hard work and dedication has meant that you have built up a sound business to benefit you and your family and naturally, you would want to ensure that your loved ones are provided for in the event of your death. So what if the worst should happen and either you, or a business partner were to die?
Who would actually be entitled to this share of the business?
Without a valid Will, the deceased's share would be subject to the Laws of Intestacy and the person who inherits may not be the person you intended.
Would you or your business partner be content to run your business with their surviving spouse or their beneficiaries? This could have a major impact on the running of the business, or the value of the business may now go down following the death of such a key person.
Our business estate planning is tailor made to suit you and your business, taking the standard planning options available on the High Street a significant step further.
Care
What will I have to pay?
When someone enters care they are automatically means tested and all of your capital assets, including your home, are taken into account. Only those who have assets below the £14,250 threshold will be entitled to the maximum possible public funding.
Should you or a family member require Long Term Care we can provide help and advice in relation to a number of issues that could arise. Where a financial assessment is required, we can assist with this and ensure that the correct approach is adopted by the Council or Local Authority and that all the necessary processes are followed. For example, has a Continuing Healthcare Assessment and a Needs Assessment been conducted?
When it comes to moving into a home, we can provide advice on the appropriateness of the contract for the placement, and we can continue to liaise with a Local Authority or Council on your behalf if issues arise on the outcome of a financial assessment.
Should you have any concerns at all at what can be a difficult time, we are able to provide help and assistance.
