Succession Planning, Wills & Trusts Solicitors — Scotland

Wills, Trusts and Succession Planning

What Does a Wills, Trusts and Succession Planning Solicitor Do?

As succession planning solicitors, we use our expertise to advise you on how to plan for the future and for what may happen in the event of your death. These are important life decisions that we all have to make in our lifetime.

Quite often, it can seem like a task that you may want to put off or deal with another time. However, planning for what happens to your estate as soon as possible has many benefits which we advise our clients about, so they can make informed decisions about their wealth, succession and property.

By working with a private client solicitor, you can cement important decisions in writing about who you want to inherit your assets and how their ownership should be handled. Watermans solicitors offer will writing services and can advise on inheritance tax planning and how to protect and manage your private wealth and digital legacy.

Our team can also help you with appointing a Power of Attorney should you ever become unable to make decisions or care for yourself and your family members properly. Your family will already be dealing with their loss, so why should they have to worry about your assets or about the effect of Inheritance Tax on future generations?

The Benefits of Using a Will and Estate Planning Solicitor

Planning for the future and for what may happen in the event of your death, are important life decisions that we all have to make in our lifetime. Besides giving you peace of mind, planning for the event of your death will reduce upset and suffering for your loved ones.

If you work closely with our specialist team of trust and estate practitioners, you have the benefit of our collective expertise and understanding of your and your family’s unique circumstances.

Each of our professional advisers will be able to guide you through creating trusts to manage private wealth and landed estates, as well as managing foreign assets and estate planning for the next generation, with the most efficient service.

With their extensive knowledge of private client law, our estate planning solicitors can also help to navigate setting up family trusts and succession planning for family businesses stress-free.

Wills and Power of Attorney

Why are Wills and Power of Attorney Important?

Wills, trusts and estates, and the other aspects of estate planning are there to protect families and other beneficiaries when you are no longer there.

Writing a will may be one of the most important documents you will ever create. By drawing up a will with a succession planning lawyer, you are ensuring that your loved ones inherit what you would want them to.

This means that you have a say in what happens to your assets and private wealth after you die. This also ensures the protection of the following generation and your family business.

Under succession law in Scotland, it is crucial to nominate your beneficiaries and ensure that you have made provision for the possible avenues for the management of any business assets.

If you do not have a will in place, Scots Law will dictate how the assets held are distributed. This could mean further costs and uncertainty for your loved ones during an already difficult time.

What is a Power of Attorney?

A Power of Attorney from a lawyer is a legally binding document that nominates a trusted family member or professional to act on your behalf, as your executor.

Appointing a Power of Attorney is different to creating a will. A Power of Attorney allows your loved ones or any trusted person you nominated as your executor to take care of you, your finances, and your affairs if you become unable to do so for yourself.

If you are temporarily or permanently unable to take care of your health, wellbeing and administration of private wealth or finances, having a Power of Attorney in place will ensure that you are being cared for by somebody who you trust to have your best interests at heart.

Having a Power of Attorney in place will reduce a lot of stress and difficulty both for you and your loved ones, making managing your affairs much easier.

Other Private Client Services

What Other Private Client Services Do Watermans Offer?

At Watermans, our private client solicitors can also offer advice and assistance for services like Transfer of Title, Inheritance Tax Planning, and what to do about your digital legacy. All of these are important when planning your estate and managing your private wealth, and what happens to your assets and your family when you are incapacitated or have passed away.

To avoid causing undue stress for your loved ones during an already difficult time, we suggest scheduling a private client solicitor appointment as soon as you can to go over your wills, trusts and estates.

It is not just in the later stages of life that you may need to think about having these plans in place. If you fall ill at any point or face difficulty in making decisions about your affairs, it will give you peace of mind that your affairs will be in order.

Why Watermans?

Our private client team at Watermans have your best interests at heart, as well as the knowledge and expertise needed to carry out these services. Our estate planning lawyers offer straightforward legal advice and help you every step of the way.

We take the hassle out of the legal side of things so that you don’t have to worry. We pride ourselves on our personalised approach, and we endeavour to build true, meaningful relationships with our clients.

With over 30 years of experience in the legal sector, we offer a professional legal service that suits you and your needs. Contact our private client team today to start planning for your future.

We offer the following prices for our Will and Power of Attorney services;

• Single Will – starting from £250 plus VAT
• Single Power of Attorney – £325 plus VAT and Registration Dues