Personal chattels are personal possessions such as furniture, the contents of your home and cars. Also referred to as tangible moveable property, personal chattels are items that you own and use personally. Items used mainly for business purposes are not classed as personal chattels, nor are money and investments. If you have bought jewellery partly
Personal chattels in Wills explained Read More »
If you have been appointed as someone’s attorney under a Lasting Power of Attorney you will have the authority to make certain decisions on their behalf. There are two types of Lasting Power of Attorney – one in respect of property and financial affairs and one in respect of health and welfare. When someone loses
What can an attorney do under a Lasting Power of Attorney? Read More »
A study has shown that sibling rivalry lasts into adulthood, with arguments continuing down the years over sensitive issues. A poll commissioned by NOW found that a quarter of adults still argue with their siblings. Some 26% compete with a brother or sister over their career while 22% bicker about home ownership. Over 20% argue
Study finds sibling rivalry lasts to adulthood Read More »
Over time, you may need to make changes to your Will. You have the option of adding a codicil or making a new Will. It is recommended that you review your Will at least once every five years as well as in the light of any major life events, such as buying a home, the
Should I add a codicil to my Will or make a new Will? Read More »
After someone dies, part of winding up their estate involves settling all of their debts. As well as paying bills, there are expenses relating to their death, including funeral costs. When someone has died, their estate is liable for paying their outstanding debts. The estate executor or administrator is the person responsible for making sure
Paying bills and expenses after someone dies Read More »
Research has revealed that only a quarter of people know what will happen to their digital assets after their death or why it is important to include them in their Will. The Law Society commissioned a survey of over 1,000 adults, asking questions about whether they had made a Will. Just 29% of those questioned
Don’t forget to include digital assets when making your Will Read More »
With the usual rate of Inheritance Tax standing at 40%, there is a risk that your estate could be seriously depleted unless you make plans to legitimately minimise the amount that will be payable. When Philip Seymour Hoffman died in 2014, he left a Will written before two of his three children had been born,
Inheritance tax; lessons to be learned from celebrity mistakes Read More »
If you or your spouse or partner need to move into care, the expense could use up a large part of your estate. While it is not lawful to deliberately deprive the local authority of funds, there are legitimate ways to protect your wealth so that it can be passed on to your beneficiaries when
Care fees and care fee planning Read More »
Lasting Powers of Attorney (LPA) and advance decisions give authority to others to make decisions about your care on your behalf, should you need this help in the future. Both documents are for use in the event that you become unable to make decisions for yourself. They can be executed before you need assistance, so
Which takes priority, an LPA or an advance decision? Read More »
The role of executor to the estate of someone who has died comes with a number of responsibilities. An executor has the task of administering the deceased’s affairs, to include paying debts, selling assets and preparing estate accounts. The role is onerous. It can be time-consuming and sometimes complex, depending on the estate in question.
Executors’ liabilities Read More »