Do Unmarried Couples Need A Will? A Will is a legal document that outlines how an individual’s assets and belongings should be distributed after their death. While many people assume that Wills are only necessary for married couples, unmarried couples in the UK can also greatly benefit from having a Will in place, in […]
Do Unmarried Couples Need A Will? Read More »
Using a Discretionary Trust to Manage Your Estate A discretionary trust can be an invaluable asset when it comes to succession planning, as it enables clients to provide for children or others in need of financial assistance without incurring an immediate inheritance tax charge. With a discretionary trust, there are no designated beneficiaries; rather, trustees
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Probate vs. Estate Administration – The Basics MWQ Estate Planning After a loved one dies, it can be difficult to understand what steps need taken and how best go about taking them. The following blog post will answer some common questions associated with handling an individual’s estate after they've passed on including: 1. What is
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Some people need time to wrap their heads around the concept of a Power of Attorney. So learning that there are various types of this legal instrument complicates matters even further. However, having a Power of Attorney in place is an important and useful legal tool to have, especially as you get older. We’ll cut
Power of Attorney: Ordinary or Lasting? Read More »
Did you realise that the manner in which you divide ownership of jointly held property has a significant impact on your Will? In the event that this is not recorded accurately, your chosen beneficiaries may be disinherited. The recent case Dunbabin & Ors v. Dunbabin provides an explanation. A Costly Error Michael, Timothy, Simon, and
Avoiding Pitfalls When Leaving Jointly-Owned Property in Your Will Read More »
What happens if the deceased’s closest relatives can’t agree on funeral arrangements or if someone else has the legal right to do so? Who has the right to make funeral arrangements? The deceased’s named executors can arrange for a burial or cremation, whichever they see fit, if the deceased has left a valid Will. In
Who has the authority to make funeral arrangements in the UK? Read More »
A Last Will and Testament is one of the most important legal documents you should create. You can do this by instructing a firm of solicitors, using Will writing experts like ourselves, or creating your own with a Post Office Will kit. While a DIY Post Office Will kit may appear appealing because they are
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How often should you revise your Will? People frequently write Wills and then forget about them; they frequently believe that the document they have created will remain in accordance with their wishes and/or valid for the rest of their lives, which is rarely the case. As we go through life, we come across many events,
A Comprehensive Guide to Revising Your Will Read More »
We are currently experiencing one of the most difficult periods in recent history as a result of the pandemic, and the death toll from coronavirus continues to rise. As a result, people have been forced to confront their own mortality. This has prompted people to consider writing a Will or updating an existing Will. As
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If a person lacks mental capacity and has not previously executed a power of attorney, it is likely that they will require the assistance of a deputy to manage their financial affairs and, in limited circumstances, to make health and welfare decisions. Because they play such an important role, it is critical that the person
What is a deputyship and who can apply? Read More »
Many of us consider our home to be our most valuable asset and the most important factor to consider when planning what we want to happen and who we want to look after if we die. However, if you have been contributing to a pension for some time, you may have amassed a sizable “pot,”
What happens to my pension when I die? Read More »
There is no law dictating how a Will should be stored. It is entirely up to you what you want to do about storing your Will, but there are some common sense considerations. It must be kept somewhere secure, where it will not be misplaced, damaged inadvertently, or thrown away. You should tell your executors
Where is the best place to keep a Will? Read More »
Any of us could lose our ability to manage our own affairs at some point in the future due to a variety of factors such as illness, age, accident, or injury. A Lasting Power of Attorney (LPA) enables you to appoint someone you trust to make decisions on your behalf when you are unable to
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Probate must be obtained when a person dies, whether or not the deceased left a will. If a will exists, the executors will apply for a Grant of Probate. If there is no will, a close relative or family member should apply for Letters of Administration as part of the probate process, which gives them
How Do I Track A Probate Application In The UK? Read More »
When someone dies in the UK or many other countries, their estate may be taxed. In most cases, the tax due is Inheritance Tax (IHT), which the deceased’s family pays on their ‘inheritance.’ However, if the deceased’s estate is substantial and includes overseas investments or properties, a family business, or anything else that ‘earns’ an
How Much Tax Do You Pay On Probate In The UK? Read More »
