Despite her $80 million fortune, reports claim that Aretha Franklin died without a Will. Aretha Franklin, died earlier this month aged 76. The Queen of Soul left behind an estate estimated to be worth $80 million. But, in spite of her wealth, it is claimed that she did not leave a Will. Franklin had been
Aretha Franklin died without a Will Read More »
Astonishingly, 55% of UK adults between 2017 and 2018 do not have a Will. This means that over half of the population have not safeguarded their future wishes. Without a Will you will not have a choice about what happens to your estate when you die. Instead, the state allocates it to the next of
6 life changing events you should update your will for Read More »
Cryptocurrency is, in the most basic terms, an alternative digital currency to traditional government-issued currency. A recent survey by Dalia revealed that 5% of the UK are planning to buy cryptocurrency in the next six months, with 9% already owning cryptocurrency. Experts even predict that 33% of millennials will own some form of cryptocurrency by
How will cryptocurrencies affect inheritances? Read More »
Civil partnerships were reserved for same sex couples only. However, in recent years opposite sex couples have been campaigning for civil partnerships for heterosexual couples. The Supreme Court of England and Wales ruled in favour of civil partnerships for all, as the Civil Partnership Act 2004 was seen as an infringement of the European Convention
6 ways civil partnerships affects estate planning Read More »
There are approximately 500,000 deaths registered in the UK each year. And, people rarely have an account only with one bank or building society. So, when someone dies, letting these institutions know can be both time-consuming and stressful. The new online Death Notification Service aims to make the process of contacting banks, and closing the
You can now inform banks of a death in just a single step Read More »
According to the latest figures, there are currently 9,254 unclaimed estates in the UK. With the average value of an estate worth around £150,000, the total amount of this unclaimed inheritance could be worth billions. Property, money, personal belongings and other assets are being left in limbo instead of being passed on to relatives or
Unclaimed estates in the UK could be worth billions Read More »
According to the latest figures, while they are rising in popularity, fewer than 1 in 10 adults have made a Lasting Power of Attorney (LPA). An LPA is one of the best ways to protect yourself and your wishes, should you become unable to make financial or health decisions for yourself. There are two kinds
The majority of people are not prepared for later life Read More »
According to the latest research, the majority of over-50s don’t understand essential Inheritance Tax terminology. Furthermore, this lack of financial education could result in them passing on less than they expect. The research found that, of the over-50s surveyed: Fewer than 30% understood key Inheritance Tax terminology Only 27% were able to correctly identify that ‘nil-rate
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A recent case involving a cohabiting couple has highlighted the need for a robust Will after a man died and the judge awarded his surviving partner more than he intended. There has been a rise in disputes between family members over inheritance. And a recent case has shown that a cohabiting partner might have a
Living with someone? They could be entitled to more of your estate than you think Read More »
In England and Wales, your Will is automatically revoked when you get married. As such, it is vital to review, and if necessary, update your Will after marriage. Despite this, many people fail to do this. Often because they are not aware of the need to do so. Unless your Will makes specific reference to
Do You Need To Update Your Will After Getting Married? Read More »