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 »
If an individual loses the capacity to manage their own affairs and make important decisions, it may be necessary to apply to the Court of Protection for a deputyship order. When someone is no longer able to cope with day-to-day life, either in respect of their financial matters or in relation to their care
Court of Protection and deputyship Read More »
If someone dies without leaving a Will, they are said to be intestate. If they leave a Will but it does not deal with the whole of their estate, they are partially intestate. When someone dies intestate, their estate is distributed in accordance with the Rules of Intestacy (the Rules). The Rules set out
A Lasting Power of Attorney is an important document giving someone the authority to deal with your affairs, should you ever become unable to do so yourself. There are two types of Lasting Power of Attorney (LPA), one that deals with property and financial affairs and one that deals with health and welfare. If
Setting up a Power of Attorney: A step by step guide Read More »
After someone’s death, their executor will usually need to apply to the Probate Registry for a Grant of Probate. In some instances, you may want to prevent a Grant from being issued. A Grant of Probate is the document that gives an executor the legal authority to deal with the winding up of an
How to stop a Grant of Probate Read More »
There are strict rules surrounding Wills and the administration of estates after a death, meaning that relying on some common beliefs could cause problems for your loved ones. We take a look at some common misconceptions and what the true position is. My spouse will inherit everything if I die If you
Six common misconceptions about Wills and probate Read More »
If someone leaves a net estate worth more than £325,000, then Inheritance Tax will need to be calculated and paid. This is not always a straightforward process and the estate executor or administrator will need to carry out investigations and arrange for professional valuations of any assets worth £1,500 or more. Valuing an
Calculating and paying Inheritance Tax Read More »
A study by Co-op Legal Services has found that almost half of Brits don’t have a Will in place. Co-op also discussed common myths with respondents, finding widespread confusion over inheritance and estate issues. The report discovered that 49% of those questioned did not have a Will in place, with 9% saying they did
Widespread confusion over Wills and inheritance Read More »
It is sometimes the case that the person named in a Will as the deceased’s executor is unable or unwilling to take on the role. The task of executor can be complex and time-consuming. It involves identifying and valuing all of the deceased’s estate, calculating and paying Inheritance Tax, obtaining a Grant of Probate,
What happens if you do not want to take up the role of executor Read More »
The government has launched a consultation into the Lasting Power of Attorney (LPA) system, which has been criticised for being slow and hard to use. The current process is largely paper based, involving the Office of the Public Guardian (OPG) processing LPAs amounting to 19 million pieces of paper in 2019/20. The consultation is
Government consultation in respect of Lasting Powers of Attorney Read More »