Lifetime Planning

Lasting Powers of Attorney

Cramp & Mullaney can help advise you on the best way to tailor your Lasting Power of Attorneys to your personal needs and priorities, putting you in a strong position for having your best interests advocated for.

A Lasting Power of Attorney (LPA) is a legal document that allows an individual known as the “donor” to appoint one or more trusted individuals known as the “attorneys”” to make decisions on their behalf at a time they can no longer do this independently.

By creating an LPA, the donor can decide in advance who they would want to help them manage their affairs if they are unable to make decisions independently. The donor can impose appropriate restrictions, instructions, or guidance to ensure that their wishes and values are respected.

Making LPAs is an important step in planning for your future and ensuring your wishes are respected. It is always advisable to seek legal advice when creating an LPA to ensure it is correctly prepared and registered in accordance with the law. Our specialist team are happy to help or advise with any questions you may have regarding this.

Court of Protection

Cramp & Mullaney is here to help you through the process of making an application to the Court of Protection when a family member or friend is having difficulties with managing their affairs independently.

The Court of Protection is a specialised court that is responsible for making decisions on behalf of people who are unable to make those decisions themselves. This could be due to learning disabilities, other cognitive impairments, or old age.

The Court of Protection plays a vital role in safeguarding the rights and interests of individuals as its primary purpose is to decide on an appropriate balance between the protection of the vulnerable individual and respect for their autonomy and personal wishes.

An order from the Court of Protection may be needed where there is not existing authority in place for somebody to help a loved-one who is struggling with their affairs. An order might be sought to appoint a third-party such as a family member, friend, or legal professional to take on responsibility for the affairs of the person who does not have capacity (a “deputy”). The deputy, through their application, will agree to take on this role. After the order is made, the deputy will be able to access any bank accounts and look after the finances of the person who does not have capacity.

Legal advice and representation are often essential for parties involved in Court of Protection cases and we can help to provide support and guidance when dealing with such matters.”

Inheritance Tax Planning

Cramp & Mullaney are here to advise on measures available to you that would minimise tax payable on your estate when you die, maximising the amount that will pass to you loved ones.

There are many different taxes that may be due on your estate when you die, however the most significant of these is usually Inheritance Tax. Inheritance Tax is a tax imposed on the estate of persons who have died. Inheritance Tax planning involves taking steps to minimise the amount of Inheritance Tax (IHT) that may be payable on your estate when you pass away. Proper planning can help reduce the tax liability, ensuring that more of your assets pass to your chosen beneficiaries.

Inheritance tax planning should form part of your general financial and estate planning strategy. The specific strategies you choose will depend on your financial situation, objectives, and the tax laws of the jurisdictions in which you have assets. It is essential to start planning early and regularly review your plan to ensure it remains effective and aligned with your goals. Our team of experts can help you to make sure your interests and those of your family are safeguarded.

Trusts

Our team is here to help advise on what type of trust is best suited to your needs, factors that need to be considered, and to help ensure your understanding of the complex issues and terms surrounding trusts.

A trust is a legal arrangement in which one party, known as the “trustee,” holds and manages assets for the benefit of another party or parties, known as the “beneficiaries.” Trusts are commonly used for estate planning and asset management purposes.

Trusts can take many different forms and therefore the type of trust used will depend on your specific goals, financial situation, and objectives.

It is important to consult with an experienced advisor when creating a trust to ensure that it is properly structured and aligned with your wider estate planning measures. Additionally, the tax implications and legal requirements associated with trusts may vary between jurisdictions, so professional guidance is essential. We can offer you the help and guidance you need to choose the correct trust which suits the needs of you and your family.

Wills

Cramp & Mullaney have an experienced team available to work with you to your personal requirements to ensure your will is secure and effectively passes your estate to who you want it to go to.

A will is a legal document that sets out who your assets will go to and in what shares. Your will is also used to state who you choose to deal with the administration of your estate once you die (the “executor”) and where relevant, name who you would like to look after your minor children (the “guardian”).

An executor’s role is to collect in details of the estate, apply for a Grant of Probate where this is needed, close your accounts, and ultimately pay out your estate in accordance with the wishes you have set out in this will.

By nature, your financial and personal circumstances change constantly throughout your life. Our team are available to discuss your position and work to suggest the best way to ensure your wishes are accurately reflected in your will.

There are a huge number of factors relevant to your will that are important to consider and take in to account. Whether you need a simple will or a more complex will including land and trusts, our team are here to bring the relevant factors to your attention and offer guidance on how to create a secure will that is personalised and appropriate for you.

Managing General Affairs

Cramp & Mullaney have a specialist team to ensure your affairs are properly managed at a time you are no longer able to manage your affairs independently and can help you put in place these arrangements.

Legal professionals who are authorised by a client to make decisions on their behalf provide a range of legal services related to the management of various personal and financial matters. We can assist clients in making informed decisions, navigating legal complexities, and ensuring their affairs are properly managed according to their wishes and the law as well as supporting them with general errands as needed.

Whether your friends and family are not local and are therefore not able to help, or if your affairs are complex and you want to ensure a qualified professional is managing these, our team is on hand to provide support in any areas for which you may require help, guidance or assistance and can do so in the comfort of your own home and a time convenient to you.