Wills, Probate & Trusts

Levi Solicitors has been in existence for over 70 years and in that time we have gained a wealth of experience in looking after the assets of the family. It is essential that everyone makes a will not only to ensure a fair distribution of personal assets to loved ones and friends after death, but many do not realise how low the Inheritance Tax threshold is.

We advise on all aspects affecting the private individual and their personal affairs. We make sure that you preserve your assets by minimising the amount of tax payable and that your family, friends and favourite charities inherit what you want them to have.

Our dedicated Private Client Division includes solicitors who are members of the Law Society Probate Section and acts for individuals, trustees, and other professionals. Our approach is to offer a service, which is personal, cost-effective and recognises the sensitive nature of many of the issues, which we handle.

Our expertise includes:

• Preparation of Wills
• Reviewing, updating and amending existing arrangements
• Tax planning and Inheritance Tax
• Probate and administration of estates
• Deeds of Variation
• Creation and administration of trusts
• Inheritance and disputed estate claims
• Preparation of enduring powers of attorney and Court of Protection
• Advice on the gifting of assets during lifetime

Levi Solicitors can guide you through all the necessary steps to making a Will, who should benefit after your death, gifts to charity, and appointment of executors, trustees and guardians.

We also provide a full service with regard to the administration of estates after death, in a calm and assuring manner to take the stress out of what is always a difficult process for any family to endure.

Subject to a few exemptions in respect of agricultural property and business property Inheritance Tax will be chargeable on all assets which you own at the date of your death, to the extent that the value of such assets exceeds £285,000.00. The tax would be chargeable on the excess at 40%.

Indeed Inheritance Tax will be payable on the value of your house and any investments which you may own, as well as on the value of any life policies together with any death benefit payable in respect of a personal pension. If you have the right to income from a Trust this will also be taken into account, as will any gifts which you make within the last seven years prior to your death.

Fortunately, Inheritance Tax is not payable on assets which pass to a surviving spouse or to a UK registered charity.

For example, if a spouse leaves the whole of their Estate to their surviving spouse then no Inheritance Tax is payable on the death of the first spouse. On the death of the survivor, Inheritance Tax is payable on the total value of the survivor’s Estate including the assets which they have inherited from their spouse. For example, if a husband and wife each have assets of £250,000.00 in their own name, then no Inheritance Tax will be payable on the first death. On the second death however, Inheritance Tax of £86,000.00 may be payable if all the assets have been left to non exempt beneficiaries for example the children (i.e. £500,000.00 - £285,000.00 = £215,000.00 X 40% = £86,000.00 Inheritance Tax).

Alternatively, the first spouse could leave the maximum sum which can be given without incurring Inheritance Tax currently £285,000.00 which is known as ‘the Nil Rate Band’ to the children and the surviving spouse will have that much less in their Estate when they die, this could result in a saving of up to £114,000.00 Inheritance Tax.

There are a number of Tax Planning routes that can be explored to minimise and if possible eliminate the effect of Inheritance Tax upon your Estate. We suggest that you speak to our specialists at Levi Solicitors Private Client Division for further information.
Deeds of Variation

Even after somebody has died it may be possible to vary the terms of their Will by entering into a Deed of Variation. As you can appreciate there are a number of rules relating to the use of Deeds of Variation and we would be happy to advise you in this area.
Contested Probate

Unfortunately problems can arise when a Will has not been prepared, or when for example a family member, co-habitee or dependant claims that proper provision has not been made for them by the deceased. We have considerable experience in probate and inheritance litigation, including applications to the Court under the Inheritance (Family Provision and Dependents) Act 1975 and Deeds of Family Arrangement. We can also advise and assist regarding alternative means of dispute resolution, including mediation. We aim to achieve the best result for the clients within the shortest period of time. Our service is sensitive and efficient with the client's objectives being our primary goal.