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Wealth Preservation covers planning how your assets are preserved and passed on after death, including wills and trust arrangements that can protect assets for loved ones and minimise tax. A solicitor in this area drafts wills to specify who inherits, creates or funds trusts, arranges lifetime gifts, and advises on lasting powers of attorney and settlement of affairs. They also help with probate applications and estate administration, ensuring the process stays orderly and compliant with the rules that apply to private wealth in England and Wales.
This work involves decisions with lasting consequences: the people who benefit, the tax position on death, and the timing of probate and executry. A solicitor protects your position by ensuring valid, properly drafted documents, clear instructions for executors, and adherence to deadlines and regulatory requirements, including any relevant tax or inheritance thresholds.
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