Wills & Probate

Making a Will can bring you peace of mind. You can choose who will benefit from your estate and how it should be distributed. Protecting your family’s wealth is of paramount importance and if you don’t make a Will, you will be leaving things to chance and be relying on others to deal with your assets at a time when they are most vulnerable.

Apart from your possessions, it’s important to make arrangements for any children. You might have strong views about who should look after them in your absence as well as how any inheritance is handled. If you have a business, you need to ensure that it is wound up as efficiently as possible or that it continues to be managed by the people you choose.

At Rowleys, we can work to ensure your wishes are followed and you can seek comfort in the knowledge that we will always seek to maximise the value of your assets and we will not claim a percentage of your estate, meaning your successors will receive the maximum benefit from any inheritance.

Even if you already have a Will, it is just as important to ensure that it is up to date and stored in a secure but accessible place.

As an introduction to our service, we can offer you a free Will review, which will allow us to highlight any potential tax issues or oversights regarding allowances or reliefs that may be available in your particular circumstances.

Traditionally, people tend to appoint family members and their solicitor as executors, but rarely consider what is involved. Dealing with someone’s estate can be very upsetting for family, friends or a surviving partner, not to mention confusing, trying to adhere to the strict legal guidelines and the time and effort required to carry out the administration.

The Law Society’s most recent guidance suggests that the fees charged for the administration of a person’s estate and obtaining Probate can be as much as 4% of the final value, together with hourly rates for the time spent dealing with the matter. This could end up having a significant negative impact on what is ultimately received by your beneficiaries.

As the first accountancy practice in Leicestershire to be licensed to carry out Probate work, we can now provide this service to you, operating under the strict codes of the Institute of Chartered Accountants in England and Wales.

What’s more, we’ll only charge for the time we spend working on your affairs at a pre-agreed hourly rate, together with any expenses legitimately incurred in the course of our business.

How we can help you

  • Notify official agencies and authorities of the death
  • Obtain accurate valuations of all assets contained within the estate
  • Take all proper steps to safeguard the assets and to manage any outstanding business matters
  • Ensure all appropriate allowances, reliefs and exemptions are applied for
  • Prepare income tax return up to the date of death
  • Ensure that the Testator’s wishes have been carried out in accordance with the Will
  • Complete and file all relevant documents and IHT forms for grant of Probate
  • Pay and settle all debts owing by the deceased
  • Obtain any relevant tax clearances
  • Prepare estate accounts for the beneficiaries and distribute the estate

As well as acting as your executor, we have extensive experience of helping our clients with a wide range of financial services. This means that we are ideally placed to help you even further by planning your estate to minimise tax liabilities, helping you to establish and administrate any trusts, claiming any available gifts relief, limiting pre-owned asset tax exposure, preparing your inheritance tax return, managing your Capital Gains Tax exposure and liaising with HMRC regarding your final liability.

With Rowleys managing your estate, you will have peace of mind that one of your most trusted advisors is dealing with your affairs when you need us most, as we support you and your family through the more difficult times.

Please see our Estate Planning and Trust information sheet for further details.

Probate diversity results 2017