Marshall Accountancy Ltd

What's the difference between a Will and a Trust?

Although they're often mentioned together, a Will and a Trust serve different purposes when it comes to protecting your assets and planning for the future.

A Will sets out what should happen to your estate after you pass away, including who inherits your assets and who will be responsible for administering your wishes.

A Trust, on the other hand, allows assets to be managed for the benefit of others.
Depending on your circumstances, it can offer greater control over how and when assets are passed on, helping to protect wealth for future generations.

The right option, or combination of both, will depend on your personal and family circumstances, which is why professional advice can make all the difference.

If you're thinking about your future or reviewing your existing estate plans, our team is here to help you understand your options and find the approach that's right for you.

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Marshall Accountancy | Chartered Accountants & Estate Planning Experts | Wills, Trusts, Probate & More | Est. 1993

Losing a loved one is never easy, and navigating Probate can feel like an added burden.

While every Estate is different, the process generally follows the same key stages.

It begins with establishing the value of the Estate and identifying any assets and liabilities.

If Probate is required, an application is made to obtain the legal authority needed to administer the estate.

Once granted, any outstanding debts and taxes are settled before the remaining assets can be distributed to the beneficiaries in line with the Will or the rules of intestacy.

Although the process may sound straightforward, every estate comes with its own circumstances, and professional guidance can help avoid unnecessary delays and ensure everything is handled correctly.

If you're unsure where to start or need support with Probate, our experienced team is here to guide you through the process with clear, practical advice.

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Marshall Accountancy | Chartered Accountants & Estate Planning Experts | Wills, Trusts, Probate & More | Est. 1993

When tax deadlines come around, having organised financial records can make all the difference.

Keeping accurate records throughout the year can help you:
✔️ Save time when preparing your tax return
✔️ Reduce the risk of errors or missed information
✔️ Keep track of your income and expenses
✔️ Ensure you have the documents you need if HMRC requests them
✔️ Give you a clearer picture of your financial position all year round

Rather than rushing to gather paperwork at the last minute, staying organised means tax season becomes a straightforward task instead of a stressful one.

Whether you're a business owner or managing your personal finances, good record-keeping is one of the simplest ways to stay on top of your tax responsibilities.

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Marshall Accountancy | Chartered Accountants & Estate Planning Experts | Wills, Trusts, Probate & More | Est. 1993

Bookkeeping and accounting, what's the difference?

Although they're closely linked, bookkeeping and accounting play different roles in managing your business finances.

Bookkeeping focuses on recording your day-to-day financial transactions, such as sales, purchases and expenses.
Keeping accurate records provides the foundation for everything that follows.

Accounting takes that financial information and turns it into meaningful insights.
An accountant can help prepare financial statements, ensure tax compliance, identify opportunities for growth and support informed business decisions.

Both are essential to the success of your business and together they help keep your finances organised, compliant and on track.

Whether you're just starting out or looking to streamline your financial processes, understanding the difference is the first step towards better financial management.

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Marshall Accountancy | Chartered Accountants & Estate Planning Experts | Wills, Trusts, Probate & More | Est. 1993

📅 Drop-in reminder! Saturday 29th August 26

Get friendly, practical advice that makes estate planning simple and stress-free.

No appointment needed, just pop in and see us, we can’t wait to help!

Marshall Accountancy | Chartered Accountants & Estate Planning Experts | Wills, Trusts, Probate & More | Est. 1993

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Probate vs Estate Administration... What’s the difference?

When someone passes away, their affairs need to be legally managed, but the terms used can often cause confusion.

Probate refers to the legal process of confirming that a Will is valid and granting authority to the executors to deal with the estate.

Estate administration is the wider process of managing everything that follows, including:
• Collecting assets
• Paying debts and taxes
• Closing accounts
• Distributing inheritance to beneficiaries

In simple terms, Probate is often one step within the broader process of estate administration.

Both can be complex and time-consuming, especially during an already difficult period.
Getting the right support can help ensure everything is handled correctly and efficiently.

📞 If you’d like guidance on probate or estate administration, our team is here to help

[email protected]

Marshall Accountancy | Chartered Accountants & Estate Planning Experts | Wills, Trusts, Probate & More | Est. 1993

Understand your Probate options.

Get clarity on the Probate process so you can take the right next steps with a free 30-minute consultation.

Dealing with Probate can feel complex and overwhelming at an already difficult time.
Our aim is to help you understand what needs to be done, what your responsibilities are, and how to move forward with confidence.

We can help guide you through areas such as:
-Applying for Probate
-Estate administration
-Inheritance Tax considerations
-Dealing with assets and liabilities
-Distributing the estate

Book via the link below:
https://www.marshallaccountancy.co.uk/estate-planning-consultation

Alternatively, call us to book your 30 minute, free Estate Planning consultation.
📞01270 882300

St Mary's House
Crewe Road, Alsager, Stoke-On-Trent
ST7 2EW

You tell us what you’re dealing with, and we’ll help you understand the probate process and what your next steps look like.

Probate isn't always a quick process, and while some delays are unavoidable, others can often be reduced with the right preparation.

Common reasons an estate may be delayed include:
• Missing or incomplete paperwork
• Difficulty locating assets or beneficiaries
• Errors in the probate application
• Inheritance Tax matters that need resolving
• Disputes between family members or beneficiaries

Every estate is different, but having organised financial records, an up-to-date Will and professional guidance can help make the process as smooth as possible.

If you're acting as an executor or need advice about probate, seeking support early can save time and reduce unnecessary stress.

Get in touch with our friendly team today.

[email protected]

Marshall Accountancy | Chartered Accountants & Estate Planning Experts | Wills, Trusts, Probate & More | Est. 1993

Heading away this summer? ☀️

Before you pack your suitcase, take a moment to think about something just as important as your travel checklist... your will.

Life can be unpredictable, whether you're travelling abroad or enjoying a staycation, having an up-to-date will gives you peace of mind.

If it's been a while since you reviewed your will, or you haven't made one yet, now is the perfect time to put it on your pre-holiday checklist.

Safe travels start with good planning.

Get in touch with our team to arrange a review!

[email protected]

Marshall Accountancy | Chartered Accountants & Estate Planning Experts | Wills, Trusts, Probate & More | Est. 1993

One of the greatest gifts you can leave your loved ones isn't just a will, it's knowing where everything is and if everything is in order.

Organising your important financial paperwork can make a difficult time far less overwhelming for the people you care about.

Consider keeping key documents together, including:
-Your will
-Details of bank and savings accounts
-Insurance policies
-Pension information
-Property documents
-Mortgage or loan details
-Details of any professional advisers

Getting your paperwork in order doesn’t have to be complicated, it just needs a clear system.

Here’s a simple way to do it ➡️

A little organisation today can save your loved ones unnecessary stress in the future.

📞 If you're reviewing your estate planning or need help ensuring everything is in order, our team is here to help.

Marshall Accountancy | Chartered Accountants & Estate Planning Experts | Wills, Trusts, Probate & More | Est. 1993