Pictured above: Karen Hayward
Whilst it's possible for an individual to apply for probate and
deal with an estate without help from a lawyer - it's not without
risks, warns Karen Hayward, a wills, probate and trusts lawyer at
Nottingham law firm Rothera Dowson.
According to Karen, many professionally drafted wills contain
trusts to save tax and protect assets, for example to avoid those
who inherit paying care fees and to reduce the likelihood of
potential disputes. She comments:
"As one of the Solicitors for the Elderly (SFE) members at
Rothera Dowson, I have noticed an increase in 'DIY-ers' returning
to us to seek advice when they have made a mistake or found the
paperwork too tricky.
"For example, Mr H's will had included a tax saving and asset
protection trust, but when his daughter administered the estate on
her own, she paid the whole estate over to her mother. Fortunately
we're able to sort out the matter and avoid future complications
occurring when her mother eventually dies.
"Another example is the case of Mr G, who sold some shares that
had made a gain during the administration of his late sister's
estate and had to pay tax. If he had transferred the shares to
himself first, before selling them, he could have avoided the
tax."
According to Karen, people aren't always aware of the
complexities and assume probate work is straightforward:
"It's true that it can be, but often it isn't. In all but the
most straightforward cases, it's important to seek timely
specialist legal advice that can actually save people money and
worry."
Many SFE member lawyers like Karen and her colleague Suzanne
McAuley will offer to work in partnership with the deceased's
family to help and support them with the legal and technical work.
As elder law specialists, firms such as Rothera Dowson can even add
value to their work, for example by identifying cases where money
is owed to the estate for care funding which should have been met
by the NHS, and assist in making a claim.
For more information about Rothera Dowson, please visit their
website here: www.rotheradowson.co.uk