Asset Management and Estate Administration

Managing your Assets is something that you should consider regularly. We are able to help with many aspects of Asset Management which may include Tax Planning, Wills, Probate, applying for Powers of Attorney, Administration of Estate upon death and Trusts.

Tax Planning

Our goal here at Crowley & Company is to help preserve your wealth and minimise Inheritance Tax on your Estate.

A person’s Estate consists of their possessions including property and money. If single and your Estate is valued at more than £325, 00.00 your Estate may have to pay tax at 40% on anything above this value. To avoid this from happening we can provide advice on how to minimise inheritance tax. Some of the ways in which you are able to preserve your wealth and minimise inheritance tax are by:

  • Transfer assets or surplus to spouse or children.
  • Set up a Trust.
  • Maximise use of your nil rate band.
  • Make gifts from any asset that produces an additional income.
  • Make smaller cash gifts to other individuals who are not already benefiting from gifts.
  • Make a gift of £3,000 per year without inheritance tax.

You may also receive relief in terms of your Estate in the form of business or agricultural relief. This is dependent on the land, assets and structure of the business.

Contact us today to arrange an appointment with to discuss your Estate planning on 02920 45 8895.

woman with calculator planning for tax

Lasting Powers of Attorney

As we grow older our mental capacity can deteriorate. Unfortunately it is something that affects us all, but some more than others. If you feel you are having trouble with making decisions you may wish to consider appointing an attorney (a person that you trust) to help make decisions with you or on your behalf. Powers of Attorney are legal documents that lets the “donor” appoint one or more “attorneys” to help make decisions in relation to your health and welfare or financial affairs.

signing will background image

Health and Welfare Lasting Powers of Attorney

When making an Application for a Lasting Power of Attorney such application would allow the attorney to help or make decisions about the following:

  • Medical care including life-sustaining treatment.
  • Daily care such as washing, eating and other relevant tasks.
  • Whether you should be cared for in a home.

Financial Affairs Powers of Attorney

A lasting power of Attorney for Financial Affairs would allow the attorney to help or make decisions about the following:

 

  • Paying Bills.
  • Managing accounts such as bank or building societies.
  • Collecting pension or any benefits.
  • Sale of Assets e.g. home.

We are able to provide friendly helpful advice, assist you in drafting your application, submitting the application and liaise with the Office of the Public Guardian or Court of Protection. We can ensure the help you require is put into place as quickly as possible and in accordance with your wishes.

We offer expert legal advice on:

  • Ordinary Power of Attorney.
  • A Lasting Power of Attorney.
  • Court Deputyships.
  • Advice on becoming an Attorney.

Before making any Application to the Office of the Public Guardian you should consider the following factors:

  • The person(s) who you wish to appoint as attorney (person helping you). You appoint one or more attorneys.
  • Whether you want to make an application for Health and Welfare, Financial Affairs, or both.

Court Deputyship

Court Deputyships can be obtained by a third party if a person no longer has the capacity to apply for a Lasting or Ordinary Power of Attorney. A deputyship may be obtained once a person is deemed to have lost or lack a reasonable level of mental capacity and require decisions to be made in relation to their assets or welfare.