Wills & Estates Planning
For all matters from wills, inheritance tax, and power of attorney, we’re here to guide you through the entire legal processes.
Wills & Estates Planning
For all matters from wills, inheritance tax,
and power of attorney, we’re here to guide
you through the entire legal processes.
Making Your Will
A Will is a legal document which outlines what should happen to a persons’ estate after the event of their death. It shows exactly how the estate should be divided up.
Before you begin to make a Will, you should think of how you would like your property to be distributed and how you wish your dependants to be provided for.
Not only will forward planning before writing your Will ensure that your wishes are carried out to your specific instructions, it can also avoid a lot of unnecessary heartache and additional costs for your family should you die without a Will and need an intestate lawyer.
Despite its obvious importance it is a sad fact of life that many of us procrastinate in writing a Will – perhaps mistakenly thinking it will take a long time to complete or that there is still plenty of time to ‘get our house in order’. Or simply not knowing how to make a will. In reality, it is never too early to put a Will in place and, to avoid any possible legal issues, it is best to have a Solicitor draw up your Will (Wills & Estate Planning) rather than take the task upon yourself.
How to Make a Will
For a lot of people, the thought of writing a Will is daunting. It can be easy to assume that a Will is a very confusing and potentially time-consuming thing to make.
We’re here to clear up any misconceptions you might have when it comes to making your Will.
You can find out more about the 7 steps involved in making a will here.
Inheritance Tax
You will be obliged to pay Inheritance Tax if the value of your estate is above £325,000. The standard Inheritance Tax rate is 40%, although it is only charged on the portion of your estate which is above the threshold.
Inheritance Tax (IHT) is a tax that may be payable on an individual’s estate upon death and will be dependent on a number of factors including the size of the estate and the types of transfers to be made. IHT may also be payable upon gifts made during a person’s lifetime and will be payable on any ‘chargeable transfers’ made either during your lifetime or upon death.
Inheritance Tax is a complex area however through the careful drafting of a Will it may be possible to reduce the amount of tax which may be liable from your estate on your death.
Making Your Will
A Will is a legal document which outlines what should happen to a persons’ estate after the event of their death. It shows exactly how the estate should be divided up.
Before you begin to make a Will, you should think of how you would like your property to be distributed and how you wish your dependants to be provided for.
Not only will forward planning before writing your Will ensure that your wishes are carried out to your specific instructions, it can also avoid a lot of unnecessary heartache and additional costs for your family should you die without a Will and need an intestate lawyer.
Despite its obvious importance it is a sad fact of life that many of us procrastinate in writing a Will – perhaps mistakenly thinking it will take a long time to complete or that there is still plenty of time to ‘get our house in order’. Or simply not knowing how to make a will. In reality, it is never too early to put a Will in place and, to avoid any possible legal issues, it is best to have a Solicitor draw up your Will (Wills & Estate Planning) rather than take the task upon yourself.
How to Make a Will
For a lot of people, the thought of writing a Will is daunting. It can be easy to assume that a Will is a very confusing and potentially time-consuming thing to make.
We’re here to clear up any misconceptions you might have when it comes to making your Will.
You can find out more about the 7 steps involved in making a will here.
Inheritance Tax
You will be obliged to pay Inheritance Tax if the value of your estate is above £325,000. The standard Inheritance Tax rate is 40%, although it is only charged on the portion of your estate which is above the threshold.
Inheritance Tax (IHT) is a tax that may be payable on an individual’s estate upon death and will be dependent on a number of factors including the size of the estate and the types of transfers to be made. IHT may also be payable upon gifts made during a person’s lifetime and will be payable on any ‘chargeable transfers’ made either during your lifetime or upon death.
Inheritance Tax is a complex area however through the careful drafting of a Will it may be possible to reduce the amount of tax which may be liable from your estate on your death.
Enduring Power of Attorney
It goes without saying that a Will can only deal with your affairs after death. However, there may be circumstances during your lifetime when you may be incapacitated from, for example, a serious illness or loss of mental capacity.
In such circumstances having an Enduring Power of Attorney prepared in conjunction with your Will should help ensure your loved ones can make decisions on your behalf if you are unable to do so.
Attorneys
Preparing for the future is always a good idea – never more so if you have a progressive illness or are advancing into older age. Some of us will reach a stage in our lives when we will be unable to make important life decisions relating to our assets and financial interests. If you are concerned that this may occur, or if it has happened to a member of your family, you should consider using the services of a Solicitor to appoint an Enduring Power of Attorney alongside drawing up a will.
Enduring Power of Attorney
By nominating an Enduring Power of Attorney, you are giving your consent that another individual can act in your best interests to deal with your affairs when you are unable to do so yourself. The person you nominate can do almost everything that you can do for yourself, but you must name them when you are still fully capable of doing so.
Often the nominated person is a close and trusted family member of friend, such as your adult son or daughter or your life partner. Some clients may even ask their solicitor to act as attorney for them solely, or together with a family member. Whomever is selected as the Enduring Power of Attorney, they will be named as such in the person’s Will and be called upon to make important decisions on their behalf should the need arise.
It’s important to remember that writing a Will is not always enough. Should anything happen before death, such as a progressive illness, which affects your ability to make important decisions, it is crucial to appoint an Enduring Power of Attorney – a separate legal document to your Will.
How We Can Help
At Hunt Solicitors we can advise you on the creation of an Enduring Power of Attorney and if, or when required, we will support and guide you through the important decisions which need to be addressed, such as in relation to property, savings and investments matters. We will endeavour to make the process as straight-forward as possible to avoid any added stress or uneasiness on their part.
Common areas which an Enduring Power of Attorney may need to make decisions upon include:
- Paying Bills
- Managing Bank Accounts
- Changing Investments
- Giving Gifts
- Managing / Selling Property
When no Enduring Power of Attorney exists the Office of Care and Protection, which is a division of the High Court, can appoint a Controller who is usually a relative. If this occurs we can help to obtain the necessary reports and prepare the relevant applications to the Court.
Enduring Power of Attorney
It goes without saying that a Will can only deal with your affairs after death. However, there may be circumstances during your lifetime when you may be incapacitated from, for example, a serious illness or loss of mental capacity.
In such circumstances having an Enduring Power of Attorney prepared in conjunction with your Will should help ensure your loved ones can make decisions on your behalf if you are unable to do so.
Attorneys
Preparing for the future is always a good idea – never more so if you have a progressive illness or are advancing into older age. Some of us will reach a stage in our lives when we will be unable to make important life decisions relating to our assets and financial interests. If you are concerned that this may occur, or if it has happened to a member of your family, you should consider using the services of a Solicitor to appoint an Enduring Power of Attorney alongside drawing up a will.
Enduring Power of Attorney
By nominating an Enduring Power of Attorney, you are giving your consent that another individual can act in your best interests to deal with your affairs when you are unable to do so yourself. The person you nominate can do almost everything that you can do for yourself, but you must name them when you are still fully capable of doing so.
Often the nominated person is a close and trusted family member of friend, such as your adult son or daughter or your life partner. Some clients may even ask their solicitor to act as attorney for them solely, or together with a family member. Whomever is selected as the Enduring Power of Attorney, they will be named as such in the person’s Will and be called upon to make important decisions on their behalf should the need arise.
It’s important to remember that writing a Will is not always enough. Should anything happen before death, such as a progressive illness, which affects your ability to make important decisions, it is crucial to appoint an Enduring Power of Attorney – a separate legal document to your Will.
How We Can Help
At Hunt Solicitors we can advise you on the creation of an Enduring Power of Attorney and if, or when required, we will support and guide you through the important decisions which need to be addressed, such as in relation to property, savings and investments matters. We will endeavour to make the process as straight-forward as possible to avoid any added stress or uneasiness on their part.
Common areas which an Enduring Power of Attorney may need to make decisions upon include:
- Paying Bills
- Managing Bank Accounts
- Changing Investments
- Giving Gifts
- Managing / Selling Property
When no Enduring Power of Attorney exists the Office of Care and Protection, which is a division of the High Court, can appoint a Controller who is usually a relative. If this occurs we can help to obtain the necessary reports and prepare the relevant applications to the Court.
Probate and Administration Fees
When a relative or loved one passes away it can be a very emotional and upsetting time. Whilst grieving it is understandably difficult to think clearly and turn your mind to practical matters such as the execution of their Will and division of their assets (Probate and Administration of Estates).
Your Solicitor therefore needs to be experienced and sensitive to your situation to help you deal with all the relevant financial affairs and assets in the best way possible – whether or not a Will is in place.
What Is Probate?
Probate is the general term which refers to the procedure where the Will of the deceased is proved as the last valid Will. On completion of this process a Court Order known as the Grant of Probate is issued by the Court. A different type of Order is obtained if the deceased did not have a Will and is known as a Letter of Administration.
The Executor of the Will is then obligated to distribute the estate in accordance with the terms of the Will. These Court Orders will provide comfort to the Banks, Building Societies and other financial institutions holding the assets of the deceased so that they can release the relevant assets into the names of the right people.
It is also important to note that the Court is not allowed to issue a ‘Grant of Probate’ until any Inheritance Tax (IHT) due has been paid. The forms associated with IHT are often complex but Hunt Solicitors will help to guide you through all aspects of the tax affairs relating to the estate.
How We Can Help
At Hunt Solicitors we offer a full probate service to manage and help minimise the legal difficulties that often arise after a loved one passes away. We deal with probate matters sensitively and proactively to ensure everything is handled as quickly and efficiently as possible.
Areas in which Hunt Solicitors can legally assist you include:
- Will execution
- Wealth management
- Estate transference
- Inheritance tax
- Disputes over Wills & Probate
How Long Does Probate Take?
If you’re wondering how long it takes to apply for a grant of probate, and how long it takes to get a probate application approved, the entire process can take anywhere between six and twelve months. However, there are multiple different factors that can affect how long the process takes.
Here is an estimate of how long you should expect it to take here in Northern Ireland for each stage of probate, including applying for a grant of probate and getting your application approved.
Applying For Probate
Usually takes between 4 – 12 weeks.
In most cases, you can expect it to take between 4 – 12 weeks to apply for probate, but as we mentioned above, there are multiple different factors which can affect this timeline.
Some of these factors that impact how long probate will take include:
- Complexity of the Estate
- Presence of Disputes
- Creditor Claims
Complexity of the Estate:
One of the most significant factors affecting the probate timeline is the complexity of the deceased person’s estate. Larger estates with numerous assets, multiple beneficiaries, or intricate financial arrangements may require more time to administer than simpler estates.
Presence of Disputes:
Disputes among beneficiaries, creditors, or other interested parties can significantly prolong the probate process. Legal challenges, contested wills, or disagreements over asset distribution may lead to delays as the court resolves these issues.
Creditor Claims:
Creditors must be given the opportunity to submit claims against the estate during the probate process. The timeline for creditor claims varies depending on state law, but creditors typically have a specified period to assert their claims. Resolving outstanding debts and liabilities can impact the overall duration of probate.
Getting a Probate Application Approved
Usually takes between 8 – 12 weeks.
Getting your probate application approved from the probate registry will, in most cases, take between 8 – 12 weeks.
One important thing to note when it comes to getting your application approved is that it can be held up by several weeks if the original application is missing some information. This is why it is so important to get your first application right.
Once Your Application is Approved
After receiving approval and you have been granted probate, it will take the executors time (usually between 2-5 additional months) to realise the assets, prepare estate accounts and distribute the estate to the beneficiaries.
How Can We Help?
At Hunt Solicitors we are experienced in drafting Wills no matter your personal circumstances. We will carefully guide you to ensure that you consider all the major items which need to be addressed. If you feel you may be subject to Inheritance Tax we can also ensure that your Will takes this into consideration to potentially minimise your tax liability.
The team at Hunt Solicitors can help you with the following Wills and other related matters:
- Drafting of Simple Wills including mirror Wills
- Drafting of Complex Wills involving establishing Trusts, advising on foreign assets and Wills for clients who have complex business interests
- Changing or updating a Will
- Administration of estates
- Contentious probate
- Enduring Powers of Attorney
- Pension planning
- Financial planning, including Inheritance Tax
- Trusts and estate planning
Probate and Administration Fees
When a relative or loved one passes away it can be a very emotional and upsetting time. Whilst grieving it is understandably difficult to think clearly and turn your mind to practical matters such as the execution of their Will and division of their assets (Probate and Administration of Estates).
Your solicitor therefore needs to be experienced and sensitive to your situation to help you deal with all the relevant financial affairs and assets in the best way possible – whether or not a Will is in place.
What Is Probate?
Probate is the general term which refers to the procedure where the Will of the deceased is proved as the last valid Will. On completion of this process a Court Order known as the Grant of Probate is issued by the Court. A different type of Order is obtained if the deceased did not have a Will and is known as a Letter of Administration.
The Executor of the Will is then obligated to distribute the estate in accordance with the terms of the Will. These Court Orders will provide comfort to the Banks, Building Societies and other financial institutions holding the assets of the deceased so that they can release the relevant assets into the names of the right people.
It is also important to note that the Court is not allowed to issue a ‘Grant of Probate’ until any Inheritance Tax (IHT) due has been paid. The forms associated with IHT are often complex but Hunt Solicitors will help to guide you through all aspects of the tax affairs relating to the estate.
How We Can Help
At Hunt Solicitors we offer a full probate service to manage and help minimise the legal difficulties that often arise after a loved one passes away. We deal with probate matters sensitively and proactively to ensure everything is handled as quickly and efficiently as possible.
Areas in which Hunt Solicitors can legally assist you include:
- Will execution
- Wealth management
- Estate transference
- Inheritance tax
- Disputes over Wills & Probate
How Long Does Probate Take?
If you’re wondering how long it takes to apply for a grant of probate, and how long it takes to get a probate application approved, the entire process can take anywhere between six and twelve months. However, there are multiple different factors that can affect how long the process takes.
Here is an estimate of how long you should expect it to take here in Northern Ireland for each stage of probate, including applying for a grant of probate and getting your application approved.
Applying for Probate
Usually takes between 4 – 12 weeks.
In most cases, you can expect it to take between 4 – 12 weeks to apply for probate, but as we mentioned above, there are multiple different factors which can affect this timeline.
Some of these factors that impact how long probate will take include:
- Complexity of the Estate
- Presence of Disputes
- Creditor Claims
Complexity of the Estate:
One of the most significant factors affecting the probate timeline is the complexity of the deceased person’s estate. Larger estates with numerous assets, multiple beneficiaries, or intricate financial arrangements may require more time to administer than simpler estates.
Presence of Disputes:
Disputes among beneficiaries, creditors, or other interested parties can significantly prolong the probate process. Legal challenges, contested wills, or disagreements over asset distribution may lead to delays as the court resolves these issues.
Creditor Claims:
Creditors must be given the opportunity to submit claims against the estate during the probate process. The timeline for creditor claims varies depending on state law, but creditors typically have a specified period to assert their claims. Resolving outstanding debts and liabilities can impact the overall duration of probate.
Getting a Probate Application Approved
Usually takes between 8 – 12 weeks.
Getting your probate application approved from the probate registry will, in most cases, take between 8 – 12 weeks.
One important thing to note when it comes to getting your application approved is that it can be held up by several weeks if the original application is missing some information. This is why it is so important to get your first application right.
Once Your Application is Approved
After receiving approval and you have been granted probate, it will take the executors time (usually between 2-5 additional months) to realise the assets, prepare estate accounts and distribute the estate to the beneficiaries.
How Can We Help?
At Hunt Solicitors we are experienced in drafting Wills no matter your personal circumstances. We will carefully guide you to ensure that you consider all the major items which need to be addressed. If you feel you may be subject to Inheritance Tax we can also ensure that your Will takes this into consideration to potentially minimise your tax liability.
The team at Hunt Solicitors can help you with the following Wills and other related matters:
- Drafting of Simple Wills including mirror Wills
- Drafting of Complex Wills involving establishing Trusts, advising on foreign assets and Wills for clients who have complex business interests
- Changing or updating a Will
- Administration of estates
- Contentious probate
- Enduring Powers of Attorney
- Pension planning
- Financial planning, including Inheritance Tax
- Trusts and estate planning
Client Testimonial
“My family have used Hunt Solicitors for over 20 years in all areas of legal advice and couldn’t recommend them highly enough. Highly professional and all phone calls and emails are answered promptly.”
FAQS
Frequently asked questions
1. What is Estate Planning?
To simplify, Estate Planning is a combination of steps taken during your lifetime to make your affairs as straightforward as possible for your loved ones in the event of death or incapacity. Making a Will is a vital part of your Estate Planning however you may find that given the nature and extent of your assets more detailed and structured Estate Planning may be necessary to protect your assets during your lifetime and on death. These can include:
a. Wills
b. Will Trusts
c. Enduring Powers of Attorney
d. Lifetime Trusts
e. Lifetime Gifting
2. What are the benefits of Estate Planning?
Lifetime planning should not be viewed as something only those with a high net worth need to consider. The main benefit of Estate Planning is asset protection. This protection is not only for those who may be concerned about Inheritance Tax, and other potential financial burdens during lifetime, but also for those who may be concerned about intricate family dynamics or for protecting assets for those beneficiaries who may themselves be unable to manage their finances.
3. What does Estate Planning involve?
All Estate Planning begins with a consultation with you where we discuss your needs and wishes. During this consultation we will map out what options we think might benefit you and those you wish to benefit from your assets. Wills and Enduring Powers of Attorney are key elements to any Estate Planning however you may also find following a consultation that you might benefit from a more detailed asset structuring which could include, gifting, charitable donations or Trusts. Your Solicitor is just one of the professionals who you need to assist with your Estate Planning and we work in conjunction with trusted financial advisors who ensure that all aspects are covered.
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Our People
Our Will & Estates Specialists
When it comes to writing wills, estate planning and inheritance tax, we have a highly experienced team who are always ready to give you the right guidance.
Ashling Gray
Director
Niamh Hazard
Eimhear Bell
Our People
Our Wills & Estates Specialists
When it comes to writing wills, estate planning and inheritance tax, we have a highly experienced team who are always ready to give you the right guidance.
Ashling Gray
Director
Niamh Hazard