While many people understand the importance of a Lasting Power of Attorney (LPA), the idea of putting a business LPA in place is not as familiar. An LPA gives legal authority to a trusted attorney to deal with your affairs and make decisions on your behalf, should you ever become unable to manage this
Do I need a business Lasting Power of Attorney? Read More »
Children aged under 18 are held to lack the legal capacity to inherit a gift under a Will. This means that if they are left something in a Will, arrangements must be made to look after the asset on their behalf until they are old enough to inherit it. When you write your Will,
Can someone inherit money under a Will if they are under 18? Read More »
A deed of variation can be used to change the provisions of someone’s Will after they have died. This can be used to distribute their assets in a different way in order to reduce the amount of Inheritance Tax that will be payable or to make provision for someone who was not included in the
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After someone dies, their personal representative will generally need to apply for a Grant of Probate or, if they did not leave a Will, a Grant of Letters of Representation. This is the legal authority that will enable them to wind up the deceased’s estate. There is not any legal timeframe for applying for
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A Living Will, also referred to as an Advance Decision, allows you to refuse certain medical treatment, should you become unable to make this decision in person at some point in the future. A Lasting Power of Attorney (LPA) for Health and Welfare has a wider remit, appointing attorneys to act on your behalf
Do I need a Living Will as well as a Lasting Power of Attorney? Read More »
Planning for the future is an essential part of taking care of your business. As well as making sure your loved ones are provided for, business and estate planning can ensure that your estate legitimately minimises its liability for Inheritance Tax. If you own a business, you will want to make sure that it
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With cryptocurrency becoming more widely held, it is important to understand what will happen to this type of asset after someone dies. Cryptocurrency is stored in a virtual wallet which is accessed using two keys. The public key is similar to an electronic address, while the private key or passcode allows the holder of
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It is just as important to store your Will safely as it is to make it. If a Will is lost then your estate could pass in accordance with the Rules of Intestacy, which means your loved ones could miss out on their inheritance. When someone dies, their personal representative has the task of
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The probate process can be a slow one, involving the winding up of all of someone’s affairs following their death. If they did not leave a Will, the time taken can sometimes be longer, as their estate may be less organised than someone who has planned for the future and there could be difficulties in
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Most people do not include their digital assets when they make a Will, meaning that anything of value will end up being included in the residue of the estate. There is also a risk that some assets will simply be lost if they are not listed or if there is no way for them
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