We’re looking after your affairs in Enfield
As one of London’s leading wills, probate and inheritance planning experts we are here to help.
Our friendly team are on hand to help guide you through the process and keep everything simple and straightforward.
Wills
Probate
Lasting Power of Attorney
Trusts
Guardianship
Enfield wills and probate
Our consultants cover your local area and can come and see you at a time and place of your choosing .
We cover all of Enfield and have been helping families like yours since 2005.
With head offices in Crouch End and consultants working across north London we can provide you with our specialist inheritance planning services gleaned from years of working in the local community.
Unlike most local solicitors we only specialise in inheritance related legal services such as wills, probate, trusts and lasting powers of attorney.
Therefore our expertise is entirely focused on providing you with the most efficient, safe and reliable services available.
We are members of the Society of Will Writers and fully comply with their Code of Practice which can be found here.
To find out more, speak to our team today
More about your inheritance in Enfield
Property and Inheritance tax (IHT)
House prices in Enfield vary a lot. On average a terraced property cost £550,000 in 2023. This is 3% more expensive than the previous year and 15% more than 2019.
However, with Enfield lock properties selling for an average of £330,000 and property in Hadley Wood going for well over the million mark you can see that there really isn’t such a thing as an average property price here in Enfield.
What’s the average Inheritance Tax liability on property in Enfield?
If the average price of a property is £550,000 then the inheritance tax liability (IHT) will be 40% of everything over your allowance, which is known as the Nil Rate Band.
As of 2023, the Nil Rate Band stands at £325,000 for an individual and £650,000 for a married couple. This covers all of your wealth and assets, not just your property.
Therefore a single person with no other assets and a property worth £550,000 would be liable to pay £90,000 in inheritance tax.
When is Inheritance Tax payable?
Inheritance Tax is payable when you die. Your ‘estate’ (this includes property, possessions and financial assets) goes into Probate and all IHT liabilities are payable before any money is released to your beneficiaries.
How can I reduce by IHT liability?
There are many ways to manage your Inheritance Tax liability and to reduce the amount you have to pay. It’s simply a case of planning ahead.
If you are concerned about reducing your IHT liability you can talk to us today on 0800 29 88 66 1
Living in Enfield
What used to be part of Middlesex (once known as Enefeld or ‘open land of a man called Ēana’) is now a huge and thriving London borough. Stretching from Waltham Forest to Barnet, Enfield has a diverse population with lots of different communities making up its bustling metropolitan population.
What inheritance products are popular in Enfield?
With high house prices and lots of young families, having a Will is a must. A Will can help to manage your IHT liability, specify what happens to your property in the event of death, and also provide Guardianship.
This specifies to the courts who you would like to play an active role in your child’s upbringing if they are ever orphaned. It’s not a nice thing for young families to think about but it can happen, so make sure you make provision for them and don’t leave things to chance.
Other products to consider include:
Lasting Power of Attorney (LPA) – this will allow you to elect someone to legally act on your behalf if you are unable to do so for medical reasons
Family Trust – Adding a Trust to your Will allows you to have greater control over your Estate if you die. For example, it can ensure that your share of the property passes to your children in the event that you die. This prevents complications should your partner remarry.
Mirrored Wills – Mirrored Wills are for married couples or civil partnerships and are drawn up together to reflect your matching circumstances.
Useful information:
Funeral services in Enfield
A plot in Enfield costs £4,950 for two burials (singles are no longer available) and £8,300 for not residents. Other funeral costs can add up to around £8,000 so the price of your funeral can be a large family expense and should be planned for in advance.