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 »
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 »