Wills, Estates & Succession Planning
McLean & Stewart have been helping generations of families for hundreds of years to put their wishes in black and white, protect their assets, minimise inheritance tax and secure their families futures.
Plan for the future today with our succession services:
Executry Estates
When someone dies, there is a legal process in Scotland called executry administration (or winding up the estate). The winding up of an estate comes at a highly emotive time and if you have been appointed to administer a loved one’s estate and carry out their final wishes it can be an intimidating prospect. We are here to support you every step of the way in that process and take care of the formalities and to ensure that the actions that need to be taken are carried out legally and sensitively.
Wills
A Will is a legal document that sets out instructions for who will inherit your estate – your property, personal possessions and money / investments – and what should happen after you die. It ensures that what you leave behind is distributed the way you would like it to be, and without one you are leaving it up to the law to decide what should happen. If you have people who depend on you, are part of a non-traditional family, or own a property or a business, it is especially important to have a Will in place and update it regularly.
Powers of Attorney
Traditionally people have thought that a Power of Attorney is for the elderly. But everyone should have a Power of Attorney in place, irrespective of age. A Power of Attorney is a way of giving someone else permission to make decisions for you, concerning your financial affairs and personal welfare, if you are no longer able to make these decisions for yourself. This could be down to old age (for example you may lose the mental capacity to make your own decisions in the future), illness or a sudden accident or stroke.
Guardianship
It is natural to want to protect those around you and if you have a family member who is unable to make decisions for themselves due to ill health or mental capacity, you might assume that you can automatically help them by making decisions for them. However if an adult has incapacity (through mental or physical illness) and is unable to make decisions for themselves, you will still need legal authority to do certain things for them, even if you are their family or next of kin. This can be a stressful time once you have made the decision, therefore it is important to speak to someone who really understands the guardianship applications process.
Intervention Order
If you are responsible for someone over the age of 16 who is unable to make decisions for themselves, and they do not have a Power of Attorney or Guardianship Order in place, you can apply to the Court for an Intervention order which authorises a person to take a one-off action to make decisions on behalf of an adult with incapacity.
Trusts
Careful succession planning can ensure assets are passed from one generation to the next, and one key way of doing this is to set up a Trust. There are lots of complex factors to consider in estate and tax planning, however people from all walks of life are now opting to take advantage of the various benefits a Trust can grant. Trusts need to be tailored for your individual circumstances so speak to us and we can help you set up a Trust to safely pass on assets to the next generation.
FAQs
Questions answered
Succession Planning – take a look at some of our frequently asked questions for more information.
We are highly respected and trusted by families and businesses for all their legal needs – from buying their first home and advising on family matters, to supporting their business and commercial needs, to helping them plan for their future.
We have been advising the people of not only Dunblane and Stirlingshire, but across Scotland, for over 250 years. Our firm is steeped in history and experience, but we do not rest on our laurels. The business has evolved over the years into a modern and innovative law firm. Providing expert legal advice by real and down-to-earth people, we strive to keep things simple and always deliver a personal service.
Please get in touch for a no-obligation chat. Our team are happy to speak to you to find out more about your individual situation and discuss how we can work with you to achieve a positive outcome.
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