Succession planning including inheritance tax and related matters

We recognise that careful consideration of sensitive issues is required when planning for succession and the protection of family assets and wealth.

Planning should begin early creating a clear vision of what is to be achieved and how it is to be done.

We can work with you to structure your will in a tax efficient manner, we will consider the use of appropriate structures and work closely with existing legal advisers.

Many of our private clients, because of our familiarity with their financial affairs and family members, chose Vista Partners to deal with their probate work. Vista Partners became accredited to carry out probate work in February 2016.

We are always surprised at how many new clients have not heard of a Lasting Power of Attorney (LPA).

LPAs were introduced in October 2007 yet are still commonly misunderstood. The Office of the Public Guardian ascertained that 45 per cent of respondents had never heard of an LPA.

An LPA is a legal document that lets you (the donor) appoint one or more people (known as 'attorneys') to help you make decisions or to make decisions on your behalf. This gives you more control over what happens to you if you have an accident or an illness and lack the mental capacity to make your own decisions.

Health and Welfare LPA allows a person to appoint an attorney to act on their behalf, should they lose the mental capacity to make decisions. The attorney will have authority to make almost all personal welfare and healthcare decisions for that individual, including giving or refusing consent to medical treatment and decisions about their day-to-day care, e.g. medical care, moving into a care home, life-sustaining treatment, or not wanting to be kept alive if in a persistent vegetative state.

Property and financial affairs LPA gives an attorney the power to make decisions about money and property for you, for example, managing a bank account, paying bills, collecting a pension or selling your home.

You can make a Health and Welfare LPA, a Property and Financial affairs LPA, or both.

To find out more about these services, or to arrange a free, initial meeting, please contact us.