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Trusts

Trusts can be created for any number of reasons and can be particularly especially useful when used at the time of writing a Will.  They can also be complex to understand and we are here to help you with your own personal situation. 

Trusts can be used to:     

• Minimise inheritance tax by reducing the value of the estate.     

• Protect assets by ensuring that they cannot be used to pay care home fees or other unforeseeable expenses.

• Provide an income for dependents and loved ones.

Estate Administration

What is estate administration?

Unfortunately, we are all likely to experience the loss of a loved one at some point during our lives. Dealing with this bereavement can be a highly emotional and stressful process, with many people not realising the amount of important work that needs to be done after someone has passed away. 

One such task is to administer the estate of the person who has died. This involves identifying all of their assets (such as property, savings and investments) and any liabilities (things like mortgages or credit card bills). These will all need to be dealt with so that whatever is left can be distributed to the people named in the person’s Will, known as the beneficiaries.

Each estate is different but some of the work that will probably need to be completed includes:

• Collating and valuing any assets, including property, possessions and investments

• Settling any liabilities such as mortgages and loans

• Dealing with any tax implications and the subsequent HMRC paperwork

• Managing the legal process of administering the estate

Monforte Wills & Estate Planning can offer access to to an number of Estate Administration service companies who specialise in this area, and they will deal with all of the legal and tax work on your behalf and keep you up to date with the progress that they are making. 

This service is also offered with a guaranteed fixed price which is agreed up front, so that you don’t need to worry about the possibility of escalating legal fees.

Financial Services

Through our sister company Monforte Wealth Limited - www.monfortewealth.co.uk | info@monfortewealth.co.uk we can also offer the services of an Independent Financial Adviser, where arrangements can work hand in hand with your Will.