Our Property Services
Enduring Power Of Attorney
Why make an Enduring Power of Attorney
An Enduring Power of Attorney only takes effect on the incapacity of the donor (the person who executes the Power of Attorney). This is just one legal arrangement a person can make in the event they become incapacitated and they are unable to deal with their affairs. It is important to stress that it is only when the person becomes incapacitated that the Enduring Power of Attorney is registered. The only person who can certify this is the donor’s doctor.
Your Solicitor and your doctor have to both certify that you are capable of signing and understanding such a document. You can appoint a member of your family to make these decisions but your family member who you appoint can only make these decisions once you are incapable of making such decisions.
An EPA allows you to feel secure and know that you will be looked after should you not be in a position to look after yourself.
If you do not have such a provision in place the only other option then is to make that person a Ward of Court.
Why make a person a Ward of Court
In circumstances where a person has not executed an Enduring Power of Attorney and they are incapable of managing their affairs a member of the family can apply to the High Court to make that person a Ward of Court. The High Court will then make all decisions for the Ward. This is the only other option available should the person not have executed an Enduring Power of Attorney.
The procedure for registering and executing an Enduring Power of Attorney is very strict and a Solicitor must comply with S.I. No. 196/1996.
What we provide
We at Alastair Purdy & Co recognise that buying or selling a house or property can be a stressful time for many. To alleviate such concerns, our property team aims to guide our clients through each step of the process.
Our areas of expertise include
- Purchasing or selling residential property
- Purchasing or selling commercial property
- Voluntary transfers
- Residential and commercial leases
- Landlord and tenant law
- Property disputes
Steps involved in selling a selling or buying a property
- If you are selling a house through an Auctioneer you need to make contact with them and agree terms and conditions upon which you are selling the property. Once the purchaser has paid a deposit the Auctioneer will forward a Sales letter to your Solicitor and Purchasers Solicitors.
- If your title documents to the property are with a Lending Institution your Solicitor will arrange for these to be drawn down. Once these are drawn down your Solicitor will prepare Contracts and title which are sent over to the Purchasers Solicitor.
- The Purchasers Solicitor may raise certain queries on the title furnished. If there are no queries the Purchaser will sign the Contracts and furnish them to your Solicitor with a balance of the 10% deposit. Only at this stage is there a binding contract in place.
- Your Solicitor will return one Contract to the Purchasers Solicitors and thereafter a closing date will be arranged suitable to both parties.
- If the sale is subject to a bank loan your Solicitor will pay the bank on your behalf out of the proceeds of the sale. Once this has been acknowledge and receipted by the Bank you will then receive the balance purchase monies left over.
Will, Probate & Estate Planning
What we do?
Our firm has many years’ experience in the drafting of Wills and Trusts. We at Alastair Purdy & Co recognise the importance of advance planning and careful crafting of Wills and Trusts so as avoid legal and tax problems in later years. As such, we provide a full range of services in respect of Wills, Trusts, Estate Planning, Capital Taxes, Probate and Administration of Estates and related Litigation including advising and/or giving independent legal advice to spouses, civil partners and co-habitants.
Why make a will?
At Alastair Purdy & Company we make the process of making a Will hassle free and can even call to your home, if you are unable and feel uncomfortable about calling into the office to discuss making a Will with our team. By making a Will you decide how your assets are shared out on your death. Whilst nobody relishes the thought of doing a Will by doing one ensure that your wishes are carried out upon your death. If you are not married you can provide properly for your partner as under inheritance law they will have no automatic right to a share of your estate. A Will allows you to engage in proper estate planning which can minimise the amount of Inheritance Tax (Capital Acquisition Tax) your beneficiaries pay.
Capital Acquisitions Tax
If you receive an inheritance following a death, it may be liable to Capital Acquisitions Tax (CAT). There are three categories of threshold listed below A, B and C. Currently the tax payable after a person inherits over the threshold is 33% The table below sets out the CAT Threshold after the 9th October 2019.
|On or after 9 October 2019
The Group A threshold applies where you, the beneficiary, on the date of the gift or inheritance are:
- a child of the:
- disponer’s spouse or civil partner (commonly known as a stepchild)
- a minor child, under 18 years of age, of a deceased child of the:
- disponer (commonly known as a grandchild)
- disponer’s spouse or civil partner (commonly known as a step-grandchild)
- a minor child of the spouse or civil partner of a deceased child of the:
- disponer’s spouse or civil partner
- a parent of the disponer and you take an absolute interest (that is, not a limited interest) of the inheritance on the death of your child.
The Group B threshold applies where you, the beneficiary, on the date of the gift or inheritance are:
- a parent of the disponer, where you take a gift or a limited interest
- a brother or sister of the disponer
- a child of a brother or sister of the disponer (Favourite Nephew or Niece Relief may apply)
- a child of the civil partner of a brother or sister of the disponer
- a grandparent of the disponer
- a grandchild of the disponer
- a lineal ancestor or a lineal descendant of the disponer.
The Group C threshold applies where you, the beneficiary, on the date of the gift or inheritance have a relationship to the disponer not already covered in Groups A or B.
As with all estate planning there are other tax relieves available such as dwelling house relief, agricultural relief, business relief, favourite nephew/niece relief.
For further information, please do not hesitate to contact us
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