How Good Estate Planning Can Save Your Family A Mint.

At some time in our lives, we all need to seek aid from a lawyer. It could be you need assistance on the drawing up wills, estate planning or maybe information on a lease extension.  These are all difficult topics that only a qualified, experienced person can advise you on.

A lot of people don’t like to think about the issue of wills and yet if you want to leave your beneficiaries provided for after you die, it’s imperative that you have one drawn up. Wills are legally binding documents that set out exactly what you want to happen to your property after your death.

If you die intestate; i.e. without having left a will, your estate is subject to the laws set down by parliament, which may or may not be in accord with your own desires.

Removing the risk of your beneficiaries having to pay Inheritance Tax is one of the main features of estate planning and a solicitor can help you set the wheels in motion whilst you are still alive.

But even if your estate is valued below the Inheritance Tax threshold, you should still seek legal assistance from an experienced company of solicitors such as Sayer Moore and Company.

Bear in mind that losing a close family member is painful traumatic enough in itself without the added burden for those who are left behind and have to sort out a load of legal problems that could have been avoided if you had used the services of a solicitor to do the estate planning.

Another concern that could affect many of us is getting a lease extension. This is particularly true for people who own a apartment that has a lease of less than 90 years left on it. If there is only 30 or so years left on a lease it could cost £100,000 or a lot deal more to extend.

Leaseholds are drawn up to ensure that everyone complies with their commitments to repair and maintain their own flat and contribute to the cost of the shared or common parts. Although this is a good idea in principle, as shown with the figures above, it can bring headaches once you want come to sell a property and need to purchase a lease extension or you’ve bought a flat with little time remaining on the lease.

If you find yourself in this sort of situation, your best course of action is to contact Sayer Moore and Company for assistance.

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