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Making a Will is a vitally important thing to do. Although, no-one likes to think about dying, having your affairs in order can save your loved ones huge emotional and financial distress.
Our Private Client Department is headed by our Senior Partner, Tony Gibson. He and partner David Bawn have many years’ experience in Private Client issues. Both Tony and David are accredited members of the Society of Trust and Estate Practitioners (STEP).
We are rated in the Legal 500 2012 edition who state, "In 2010, the `extremely professional' team at Gibson & Co. handled the administration and winding up of over 130 estates. Tony Gibson is a key figure, and David Bawn is valued for his `skill, speed and efficiency' ".
In the Legal 500 2013 edition our entry reads, "Gibson & Co. handles wills, trusts and wealth management for high-profile and high-net-worth families. Tony Gibson leads the team, which includes the `client-centred and extremely knowledgeable' David Bawn.
You can be sure that your affairs will receive sensitive, expert attention.
We advise and assist with the following services:
Preparation of Wills
Making a Will is a major piece of planning for your family’s future. It should not be undertaken lightly.
The way your Will is prepared is extremely important. Mistakes can cause family turmoil and, at worst, expensive legal disputes. It’s an important document which should only be prepared by a specialist Solicitor qualified in this area of law.
Leaving behind a valid Will means that you can decide how your estate is distributed after your death. It allows you to appoint someone you trust to administer your estate and even to look after your underage children.
Wills are also very useful documents that can help you plan for Tax and Care Home Fees.
They can be used to create long-term trusts for vulnerable family members. As a result, they can save your dependants considerable amounts of money.
Please contact David Bawn in Newcastle or Derwent Gibson or Michael Macgregor in Hexham.
Lasting Powers of Attorney
The Lasting Power of Attorney (LPA) is a new form of power of attorney that was created by the Mental Health Act. The relevant provisions came into force on 1st October 2007.
You can use the LPA to appoint someone you trust to look after your interests if you become incapacitated mentally or physically.
Two kinds of LPA exist; First, the Property & Affairs LPA, which appoints an Attorney to deal with your financial affairs, including your bank accounts, investments and, if need be, your house.
The second type is called a Personal Welfare LPA, where you appoint an Attorney to make decisions that relate to your medical care and social welfare.
An LPA Attorney appointed under either type of LPA has a duty, as far as is possible, to keep you informed about what they are doing on your behalf and to involve you in the decision making process.
It is possible to make either or both kinds of LPA, and we can advise on the procedure and impact of making this important step.
Please contact David Bawn in Newcastle or Derwent Gibson or Michael Macgregor in Hexham.
Administration of Deceased’s Estates
When a loved one dies, it’s clearly an emotional time. However, the formalities of administering, distributing and winding up the estate still have to be completed.
We have considerable experience of acting either as the executors appointed under a Will or, alternatively, as advisors to the appointed family executors.
We are also experts in dealing with intestate estates, where the deceased has made no Will and advice is needed on the various issues which arise.
Dealing with an estate can be a complicated business, and may involve the settlement of the deceased’s tax affairs, payment of the debts of the deceased, arranging for valuations of the assets of the deceased, tracking missing beneficiaries, administration of ongoing trusts, dealing with the Probate Registry and the department of Work & Pensions, preparing full estate Accounts, calculating Inheritance Tax and liaising with the Capital Taxes Office.
Please contact David Bawn in Newcastle or Derwent Gibson or Michael Macgregor in Hexham.
Creation & Administration of Family Trusts
Trusts to benefit family members can be created while you’re still alive. These can be used for a variety of purposes.
They can, for instance, be formed for the purposes of Inheritance Tax Planning, holding over the payment of Capital Gains Tax and or for the purpose of holding assets for vulnerable or underage beneficiaries.
Our team is experienced in both the creation of such lifetime trusts and their ongoing management, either as Trustees or on behalf of family Trustees.
Please contact David Bawn in Newcastle or Derwent Gibson or Michael Macgregor in Hexham.
Change of Name Deeds
We can advise you about the procedure you’ll need to go through if you want to legally change your name should your personal circumstances change.
This includes preparation of the Deed required to change your name and/or any Statutory Declaration, which may be required by different institutions such as the Passport Office, the DVLA and your bank. There’s usually a flat fee of £50.00 plus VAT for a straightforward change of name deed.
Please contact Jane Gibson in Newcastle.
Making provision for the impact of future Care Home Fees
Many people worry that if they have to go to a Care Home for the later part of their lives, there will be serious, adverse effects on what can be passed down to the next generation.
We can offer practical advice, which may help people to plan for this eventuality.
Please contact David Bawn in Newcastle or Derwent Gibson or Michael Macgregor in Hexham.
Contentious Probate
Sometimes, things go wrong with estates, and there may be no option but to dispute the terms of a Will or to make a claim against an estate.
We’re experienced in both making such applications and defending them on behalf of estates.
Please contact David Bawn in Newcastle or Derwent Gibson or Michael Macgregor in Hexham.
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