Inheritance Tax (IHT) can be a nasty surprise during the administration of a Will. New Year is the ideal time to check that you’ve done all you can to minimise the burden. Increasing property prices has had the effect of increasing the amount of Inheritance Tax many people are paying. There are ways of reducing
Review your Inheritance Tax situation in the New Year Read More »
A Lasting Power of Attorney (LPA) is an official legal document appointing someone to act on your behalf should you one day become incapable of managing your affairs. There are two types of LPA, one for financial matters and one for health and welfare. You can have one or both in place. They do not
Preparing for the future with a Lasting Power of Attorney Read More »
When someone dies, often loved ones would like to see the document that they have left outlining their wishes and stating who is to benefit from their estate. We look at who is entitled to see the contents of a Will. Immediately following a death, the only people initially entitled to read the Will are
Can anyone see the contents of a Will? Read More »
When someone dies, they may leave debts that their personal representative is not aware of. By advertising in the press, creditors have the chance to claim the money they are owed. After a death, an estate is administered by a personal representative of the deceased. This is either an executor or, where there is no
Why a Section 27 Notice should be published following someone’s death Read More »
After someone dies, everything in their estate needs to be valued. We take a look at why and how this is done. For most people, their estate will need to be wound up by either an executor or, if they have not left a Will, an administrator. Part of this person’s job is to value
Valuing an estate for probate Read More »
For the majority, Christmas is a time of warmth and love, celebration and festivities, presents and indulgence. Unfortunately, this time of year is a very different story for an ever increasing minority. According to Resolution data, the number of children in the UK living in relative poverty by the end of this year will exceed
We are hosting a Christmas Raffle in aid of Action for Children Read More »
If someone exerts undue influence over another person so that they amend or make a Will in their favour, it can be legally challenged in court. We take a look at what undue influence is and how you can avoid your Will being challenged in this way. What is undue influence? In respect of a
What does it mean when a Will is made under undue influence? Read More »
Over time, changes in circumstances can mean that a Will becomes out of date and doesn’t accurately reflect your wishes. We look at how to ensure your Will can cope with changes. It is a good idea to make a Will, even if you are young. It helps keep your financial affairs organised and if
Writing a Will that is future proof Read More »
When someone who has a mortgage dies, it is important to notify the lender as soon as possible. If the property has been left to you in a Will, you should ask them about the options for taking on some or all of the mortgage if it cannot be repaid. After a death, notifications need to
What happens when a homeowner with a mortgage dies Read More »
Pensions are notoriously complex and different rules can apply to different pensions held by different companies. After someone’s death, the benefit of their pension may be payable to the person they nominated when the scheme was set up. Workplace and private pensions Sometimes a workplace or private pension scheme will provide a lump sum and/or
What happens to someone’s pension after their death? Read More »