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Other Services
Over the years - to provide our clients with a 'one stop shop'- Cheesmans has often introduced new services that reflect our clients' needs to protect their assets.
While some of these services are indeed primarily geared to individuals, rather than to businesses, their relevance to business assets is self-evident. Also, they reflect the degree of trust our clients are happy to place in Cheesmans, and the nature of our close relationships.
The specific services included here are Wills, Inheritance Tax Planning and Lasting Power of Attorney.
Wills Many people wrongly assume that, in the absence of a will, their property will be left to the intended beneficiaries. All too often, this is not the case.
Two other important reasons to make a will are (1) to avoid unnecessary disputes after you are gone and (2) to minimise your inheritance tax liability. We will deal with this in fuller details below.
Cheesmans will discuss your requirements with you, establish your intentions, and suggest alternative arrangements where necessary.
Existing willsThese should be kept under review. Cheesmans offer a reviewing service of an existing will to ensure that it meets - and continues to meet - your personal and legal requirements.
Inheritance Tax PlanningMany major misconceptions prevail about inheritance tax.
Most people significantly underestimate their wealth, thinking that inheritance tax is only a problem of the very rich.
In reality, your family (or other beneficiaries) may end up paying close to 40% of your estate in inheritance tax.
Every year, HM Revenue & Customs Treasury collects £2.9billion in inheritance tax, much of this payment being unnecessary.
At Cheesmans, we regularly advise clients on the best means of minimising their liabilities. When they own businesses or property, we can help ensure that substantial liabilities are avoided.
Whether you want to give assets to family members or set up trusts, we will be delighted to help you.
Lasting Power of AttorneyLasting Power of Attorney (LPA) is a legal document whereby an individual entrusts a personally selected Attorney or Attorneys to deal with certain matters, once they themselves lack the capacity to do so. Depending on your circumstances, you can choose an LPA to deal with one of the following:-
Property and Financial Affairs
Personal Health and Welfare
At Cheesmans, we take the hassle out of the submission process. Initially we send you a simple questionnaire, and once you complete it and return it to us, we do the rest for you. All you then have to do is have the form signed by the relevant parties.
LPAs can be made by anyone, at any time, but they only come into force once the Donor lacks mental capacity, as specified by the Mental Capacity Act (2005) so regardless of your condition it is worth completing in one preparation for any eventuality. LPAs can be made by the Donor themselves, or in certain cases by the Attorney(s) if the Donor is unable to act.
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