Private Client Lawyers East Lothian
Managing your personal, financial and tax affairs can be complicated and matters are all too frequently postponed, which can leave unforeseen consequences for your loved ones. Higher property values mean that Inheritance Tax catches more and more people. Our advice can give much-needed peace of mind – whatever stage you are at in life.
Our friendly and locally based legal team will be there when you need them. Contact us today to find out how we can help.
Our private client services in North Berwick, Dunbar and Haddington
We provide legal advice on many private client matters, including:
Making a Will and keeping it updated is crucial to ensure your loved ones are provided for after you have gone. Without a Will, your estate will be distributed according to default legal rules, and it is possible that these will be inconsistent with your wishes. We take the time to gain an understanding of your intentions and provide practical advice to you on all aspects of preparing a Will – no matter how complex your personal or financial situation may be.
Power of Attorney
A Power of Attorney gives someone you have appointed the authority to make decisions regarding your finances and welfare. This means that if you lose capacity in the future, for example, due to an accident, stroke or dementia, you have peace of mind that your affairs will be taken care of by someone you trust. Our Private Client lawyers have many years’ experience advising on, preparing and updating Power of Attorneys for local families and individuals.
Dealing with a loved one’s estate after they have passed away can feel like a huge and daunting task. Even with small estates, the work involved can be time-consuming and complicated. Further, Executors must carry out their responsibilities with care; if any mistakes are made, they will be legally responsible. The Private Client lawyers at Paris Steele are here to guide you through this complex process and to make it as straightforward and stress-free as possible.
Inheritance Tax planning
Inheritance Tax (IHT) is payable on the portion of your estate that is over the threshold (£325,000). Effective planning of your estate to take advantage of exemptions, reliefs and lower rates can significantly reduce the amount of IHT due and ensures as much is left to your loved ones as possible. We can guide you through the most effective options for mitigating IHT on your estate.
Planning for the future
There are many decisions to make in later life: should I create a Power of Attorney? How will I finance my retirement? What care and accommodation might I need? How do I ensure my family are provided for after I’m gone? Our Private Client Team is proud to assist individuals and families in our local community to create carefully considered and comprehensive plans for the future.
Trusts are a useful and tax-efficient way to pass on assets to your beneficiaries. However, the rules and regulations that apply to their management are complicated. We offer clear advice on how you can use trusts to benefit your family.
While no one likes to think about losing the ability to make decisions for themselves, it may be comforting to know that the law in Scotland offers several ways to ensure your affairs are protected in these circumstances. Our Private Client lawyers are here to provide compassionate and clear advice on how to take care of your or a loved one’s affairs in the event of incapacity.
If somebody loses the capacity to make decisions and doesn’t have a Power of Attorney in place, an intervention order or guardianship order may be required. This will allow the relevant person to look after the adult with incapacity, for example, in terms of managing decisions about their welfare, property and bank finances. Our Private Client lawyers are here to provide compassionate and clear advice on how to take care of your or a loved one’s affairs in the event of incapacity.
Contact our Private Client Lawyers in North Berwick, Dunbar and Haddington, East Lothian
For over 90 years, we have been providing families in East Lothian with high quality, pragmatic and reasonably priced legal advice. We are here to help whenever you need us. To arrange your free initial consultation, please contact us online or telephone one of our offices: North Berwick 01620 892138; Haddington 01620 820982; or Dunbar 01368 862746.