A new study carried out by Tower Street Finance has found that the value of estates likely to be left has fallen and 10% of those questioned believe they will not be able to leave anything to their loved ones. The research also found that with living costs rising, a substantial number of people are
New research reveals 1 in 10 will leave zero inheritance Read More »
Selling a property is one of the most stressful events we can go through and dealing with this after the loss of a loved one can be exceptionally difficult. We take a look at probate property sales and give you some tips to help you manage this challenging process. After someone’s death, if there is
Things to know about probate property sales Read More »
A Lasting Power of Attorney or LPA gives legal authority to a trusted family member or friend to deal with your affairs on your behalf. It can be used should you ever lose the capacity to make your own decisions. There are two types of LPA that can be made: Financial and property LPA Health
When should I make an LPA? Read More »
For property owners looking to mitigate Inheritance Tax liabilities, gifting property and leasing it back may be an option. It is vital that this is done carefully however, to ensure that the value of the property is not included in the estate valuation when the time comes. Before deciding to gift and leaseback your property,
Gift and leaseback of property: Inheritance Tax planning Read More »
If you are administering the estate of someone who has died and who held Premium Bonds, you need to know your options for dealing with them. Premium Bonds are issued by the government’s National Savings and Investments bank, which is backed by the Treasury. Holders can invest between £25 and £50,000. Instead of a regular
What happens to Premium Bonds when the holder dies? Read More »
Parents usually want to leave their money in their Will to children and grandchildren. There are different ways to pass on wealth and we take a look at the options and implications. It is important to think carefully about how you want to leave your money when making a Will. In some cases, passing on
Leaving money in your Will to your children and grandchildren Read More »
Executors who are dealing with the administration of an estate after someone’s death need to be careful not to breach the rules designed to protect beneficiaries. This includes not buying assets from the estate. Known as self-dealing, buying assets from an estate if you are a personal representative can mean that you have breached the
The rule against self-dealing in estate administration Read More »
The Financial Conduct Authority (FCA) has taken over regulation of the pre-paid funeral plan sector and is advising consumers to buy only from providers or representatives it has authorised. Following legislation passed by the government, the FCA now regulates the pre-paid funeral plan market. This is intended to raise standards and provide better protection for
Funeral plan providers now regulated by the FCA Read More »
A Lasting Power of Attorney or LPA is a legal document giving authority to a trusted person to make decisions on your behalf, should you ever become unable to do this yourself. We answer some of the most frequently asked questions concerning making and using LPAs. What is a Lasting Power of Attorney? A Lasting
Lasting Powers of Attorney – Frequently Asked Questions Read More »
After a death, an estate executor or administrator is responsible for winding up the deceased’s affairs. This may include obtaining a Grant of Probate. We take a look at when banks will ask for a grant before releasing funds. In some situations, it is not necessary to obtain a Grant of Probate after someone dies.
When do banks ask for a Grant of Probate? Read More »