We are thrilled to share that our very own Victoria Greenwood, a solicitor who works in estate management at THP Law normally writing Wills, Lasting Power of Attorney and sorting Probate, has successfully completed the Tissington Trail Half Marathon this past Saturday!
Read MoreCelebrating Community Spirit at the Stockport Volunteer Fair. On Wednesday, 18th September, the Stockport Volunteer Fair brought a fantastic sense of community spirit to Merseyway Shopping Centre.
Read MoreExperience the Virtual Dementia Tour: A Remarkable Insight into Dementia
As a local firm of Solicitors based in Stockport, Macclesfield and Bollington we understand the importance of community and the profound impact that events can have in raising awareness and understanding.
Read MoreAs a proud member of the Stockport community, our Stockport law firm was thrilled to attend and support Stock Party, a fantastic beer and food festival held at the iconic Robinsons Brewery. This event not only showcased the vibrant spirit of Stockport but also provided a wonderful opportunity for us to engage with local residents and fellow businesses.
Read MoreWe're thrilled to share our experience as the local solicitor firm THP Law at the recent Bollington beer festival that our law firm had the pleasure of sponsoring
Read MoreYou never know what life is going to throw at you. You may think you’re invincible but old age and ill health creep up on us all. Or you may have a major accident and be unable to look after yourself.
So, it’s a good idea to be prepared for any eventuality.
A Lasting Power of Attorney (LPA) is a legal document that allows someone to make decisions on your behalf if you cannot or do not want to make decisions anymore. You may have been diagnosed with dementia, for example, and have lost mental capacity. It is totally separate from a will.
Setting up an LPA means you can take control in advance and choose someone you trust to be in charge of making key decisions for you. A way of getting some peace of mind about the future.
An Ordinary Power of Attorney is useful if you need cover for your financial affairs for a temporary period such as a stay in hospital. You would still have mental capacity in this scenario.
There are also two types of Lasting Power of Attorney, which come into effect when you no longer have mental capacity:
● health and welfare
● property and financial affairs
A health and welfare LPA allows you to appoint someone to make decisions about your healthcare and welfare, when you are no longer able to. This can include decisions about consenting to or refusing treatment on your behalf, as well as about where you live. This type of LPA only comes into effect if you have lost mental capacity.
A property and financial affairs LPA allows you to choose someone to make decisions about how your property affairs are managed, and how your money should be spent. It may cover aspects such as:
● buying and selling property
● paying the mortgage
● arranging repairs to property
● investing money
● paying bills
A financial LPA can come into effect while you still have mental capacity but just do not want to make all the decisions. Or you can specify it only comes into effect if you lose capacity.
You may also have heard of the term Enduring Power of Attorney. These were replaced by Lasting Powers of Attorney in 2007.
You may assume that if you lost mental capacity, your spouse would automatically have access to your bank account or pension, and be able to make decisions about your finances and healthcare. This is not the case - you would need a lasting power of attorney for them to
be able to act.
People often think being next of kin is enough. But while your next of kin may be asked about what they think your wishes about your care may have been, they wouldn’t have any specific legal rights to make such decisions.
Without an LPA in place, they would have to go to The Court of Protection which can be expensive, time consuming and stressful.
If you want to be prepared and in control over who handles your affairs, consider putting an LPA in place now. This means your attorney will be ready to act on your behalf as soon as needed.
The Office of the Public Guardian (OPG) is responsible for registering powers of attorney.
It costs £82 to register an LPA in England and Wales and £164 if you are registering both an LPA for property and financial affairs and one for health and welfare.
You can download and complete the forms yourself or we are happy to take care of your application if you prefer.
Call us on 0161 480 2629 or email enquiries@thehowepractice.co.uk and we can get the process started.
A Grant of Probate is a legal document that gives you the authority to manage a person’s estate after they have died. It will help you to access bank accounts, sell assets, deal with property and settle debts. Once everything has been finalised, it also allows you to distribute the assets to the beneficiaries under the terms of the Will.
If the person left a will, it’s called a Grant of Probate. If they didn’t, a Grant of Letters of Administration (or Grant of Representation) is used but both documents work in much the same way.
As the named executor of a Will, you will need to apply for a Grant of Probate if the person who died:
● owned their own home and it was in their sole name
● owned shares in their sole name
● had over £20,000 in the bank (not a joint account)
Probate is necessary to sell or transfer property and to deal with high-value assets. It’s important to note that it doesn’t depend on whether there’s a will or not but on the financial situation of the person who died.
You’re unlikely to need probate if the person:
● owned the house as joint tenants
● kept their savings in a joint account
● didn't own high value assets
● had less than £20,000 in savings
In these cases, the property will simply transfer to the surviving owner. Most banks will also release up to £20,000 without probate. Do check with your own bank, however, as every bank is different.
Our probate specialists will take care of obtaining the Grant of Probate and can handle all the administration of the estate for you.
Legal Fees: £750 - £1,000 plus 20% VAT*
Probate Application Fee: £273
Copies of the Grant: £1.50 each
Disbursements
Payments to third parties such as HMRC on your behalf
*These legal fees would be based on the value of the assets being less than the nil rate band.
Currently, each individual gets a nil rate band of £325,000 which if you’re married or in a civil partnership passes to your surviving spouse, making a total of £650,000 before IHT is payable. Additionally, if you leave your family home to your children, they also become eligible for the Residence Nil rate band of £175000. This means the qualifying estate of a surviving spouse or civil partner can pass on up to £1 million without Inheritance Tax liability.[1]
We’re here to explain all the Probate processes to you and provide you with free, initial guidance. Call us on 0161 480 2629 to talk to a member of our experienced team or email enquiries@thplaw.co.uk
As explained, being an Executor of a Will is not a paid job. Occasionally, the person who has died may have left you something in their will to cover your time, but if this has not happened, you can only claim direct out of pocket expenses.
Administering an estate, however, may take many hours. Expenses can soon mount up as you incur costs for petrol, telephone calls and lost holidays, not all of which are recoverable. It is imperative that you keep detailed, accurate records so that you can defend yourself if you are ever challenged.
What’s more, if the beneficiaries receive less than they might have hoped for from the estate, you need to make sure that you do not feel under pressure to make up the difference from your own pocket.
Remember that if you instruct a solicitor, any professional costs for the time spent in administering the estate are deducted before the funds are distributed.
People sometimes think appointing a solicitor is an expensive option. However, when you weigh up the time and stress involved in doing the job yourself, you may feel it is money well spent to get the estate resolved quickly, accurately and without any family friction.
Professional charges must be seen to be fair and proportionate to the work involved as well as the size of the estate. In the past, it was customary for banks and other professionals acting as executors to charge a percentage of the value of the estate in fees. In some cases, these could add up to quite significant amounts and seem disproportionate to the amount of work undertaken.
Current practice is only to charge for time spent or a fixed fee. If you do appoint a professional executor, make sure they work in this way and let you know the fees upfront.
You’re now aware of the risks and potential pitfalls in administering an estate and even more importantly how to avoid them.
It’s for you to decide whether you think you have the time, knowledge and emotional stamina to carry out the role of executor yourself or if you would prefer to delegate some of your responsibilities.
Even if it’s just some advice at the outset to set you on the right track, consulting a professional can save you a lot of time, stress and hassle.
THP Law is a family firm of solicitors located in Stockport, Bollington and Macclesfield offering legal services in Conveyancing, Wills, LPA’s, Probate and Litigation. Our specialist Probate team has a wealth of experience in dealing with all aspects of the Administration of Estates.
We take a sensitive yet professional approach, focusing on alleviating the stress and worry for you. As part of this, we offer a free 30-minute Probate information session. This is your opportunity to ask whatever questions you may have.
We will help you to understand:
● Your responsibilities as an executor for identifying the assets and liabilities of the estate
● What it means to be accountable to the beneficiaries.
● How to identify whether the deceased left a will and how to interpret the will .
● What happens to the estate if the deceased did not leave a will.
● Whether a grant of probate is required.
● How any inheritance tax liability may be reduced
Our aim is to offer clear guidance and practical advice at every step. We strongly believe that the charges for Administering and Estate and dealing with Probate should be fair and proportionate with the time spent. This is why we don’t charge a percentage of the assets and are totally transparent about what our fees cover.
Let us help you to navigate the path of being an Executor by making the process as smooth and straightforward as possible.
Book your free 30-minute Probate information session now by calling 0161 480 2629 or emailing enquiries@thplaw.co.uk
The Howe Practice Solicitors now known as THP Law are delighted to announce that we have officially expanded into Cheshire with the acquisition of A D Firth & Co in Bollington near Macclesfield.
A well-respected solicitor with over 40 years’ experience, Alan Firth joins THP Law as an expert in Conveyancing, Wills and Probate.
THP Law’s second office is located in the heart of Bollington and has enabled us to offer our comprehensive legal services to more clients in the Cheshire area.
It will work alongside our existing head office in Stockport to provide a variety of legal services to clients. Our highly trained and experienced legal team cover a wide array of legal areas including residential Conveyancing, Wills, Trusts and Estates, and Dispute Resolution. Take a look at our break down of services to better see how our specially trained solicitors can assist you.
The firm is thrilled to be providing our specialist legal assistance to Bollington and the county of Cheshire. We look forward to our continued positive work in the area.
If you are local to Bollington or surrounding towns and villages and are in need of legal advice or services please arrange a meeting at our new office at
The Old Bank House
52/54 Palmerston Street
Bollington
Macclesfield
SK10 5PW
Contact us to arrange on 0161 480 2629 or 01625 261 840.
Job Specification
Role: Private Client Legal Secretary
Location: 2 Waterloo Court, Waterloo Road Stockport SK1 3DU
Hours: Full time; 9am – 5pm Mon-Friday
Salary: Dependent upon experience
Job Description:
The Howe Practice (THP Law) is based in Stockport and Bollington, and specialises in Wills, Probate LPAs, Residential Conveyancing and Commercial Litigation.
We are seeking an experienced legal secretary to join our busy Private Client department in Stockport. The role entails providing full secretarial support to two fee earners, diary management, booking appointments and liaising with clients, audio transcription, liaising with clients personally and handling all general Private Client based telephone queries and/or requests. All typing/correspondence and document work, alongside the preparation of all legal forms where required.
The Candidate
At least three years’ experience in Private Client, Wills & Probate.
Experience in
· Preparing estate accounts
· Drafting wills & codicils
· Drafting LPAs
· IHT forms
Good technical knowledge with the ability to work unsupervised.
Clear demonstrable ability and keenness to build and maintain client and referrer relationships.
Excellent administration and organisational skills.
Friendly and approachable - excellent team player.
Digital audio transcription.
Dog friendly
CVs with covering letter to: Victoria.greenwood@thehowepractice.co.uk
“Extremely professional and proactive conveyancing service and very fairly priced. Throughout I genuinely felt that they were fighting for me to get the best from the selling process. They often emailed out of hours with news or reassurance. Highly recommended.”
You can find out more information on inheritance tax on the UK Care Guide website by clicking here.
In November 2016 an identity fraud victim in Stockport described the horror of discovering their £500,000 home up for sale on Rightmove without their involvement or knowledge.
After a police investigation, it was later discovered two men had stolen the homeowner's mail and forged his signature in order to falsify the documents needed to auction the house. The two criminals have since been jailed for their part in the scam.
The scam worked by the fraudsters:
The property advert of the website featured several pictures of the property and was inviting bids starting at £300,000. The details even included a request that the tenants were "not to be disturbed" so there was no need for estate agents to show people around.
The fraudsters knew that because the property was mortgage free they were able to transfer the deeds without needing the extra authority of the lender.
On this occasion, luckily the owner discovered the advert just three days before the auction was due to commence. This case demonstrates fraudsters can use your identity details to highjack your identity and try to steal your home.
HM Land Registry (HMLR) has successfully prevented 279 fraudulent applications being registered since 2009. This number represents a saving in property value of more than £133.4 million.
Property fraud is extremely rare, but for the unlucky few, the effects can be devastating, time-consuming and extremely costly. We urge the public to secure their mailboxes and employ measures to protect their identities.
Your property should be registered if you bought it or mortgaged it since 1998, contact your solicitor if you are unsure.
You can sign up to get property alerts if someone applies to change the register of your property, for example, if someone tries to use your property for a mortgage. This won’t automatically block any changes to the register but will alert you when something changes so that you can act.
You can get alerts for up to 10 properties - there’s no fee.
You can stop HM Land Registry registering a sale or mortgage on your property unless a conveyancer or solicitor certifies the application was made by you. If any of the risk criteria above apply to you then contact us today to discuss how we can proactively protect your asset and home.
