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What is Probate & how does it work?

11 July 2017

What is Probate & how does it work?

What is probate?

When someone passes away, they leave behind everything they owned at the time of their death such as money, property and sentimental items. These are called assets; these assets need to be dealt with in respect of the deceased person’s last wishes set out in their Will. This is referred to as the administration of an estate.

How often should you update your Will?

A guide to when you need to be updating your Will.

How often should you update your Will?

It is recommended that a Will is reviewed and updated if required every 5 years or if you have had any significant changes in your life which could include:

•    buying or moving home
•    getting married
•    separating or divorce
•    new children or grandchildren
•    anyone named in your Will passes away

Is your Will still valid?

25 May 2017

The ways in which your Will may be invalid.

Is your Will still valid?

There are a number of common reasons a Will may not be valid, ranging from being incorrectly signed and witnessed to simply making handwritten amendments without thinking about the impact this might have.

 

Changes to Probate Fees

22 March 2017

How this effects your estate

Changes to Probate Fees

It has been announced that, subject to Parliamentary approval, there will be a significant increase in the fees that are charged by the Probate Registry for the processing of applications for grants of representations. It is proposed that this change takes effect from 1st May 2017.

Signing your Will Correctly

17 February 2017

Signing your Will Correctly

Your Will is your last statement setting out exactly how you want your estate to be distributed upon your death. Once a Will has been drafted, it is not deemed to be effective until it has been signed correctly. Therefore, it is essential that it is signed correctly in order to make it legally binding. If your Will has not been signed correctly then there could be questions raised regarding its validity.

What is Lasting Powers of Attorney & Why do you need it?

10 February 2017

A Guide to Lasting Powers of Attorney (LPAs)

What is Lasting Powers of Attorney & Why do you need it?

Lasting Powers of Attorney are about forward planning; you may not feel that you need to have one right now but it is useful to arrange the document while you are still able to do so.

A Guide to Inheritance Tax & Residence Nil Rate Band (RNRB)

What RNRB means for Inheritance Tax

A Guide to Inheritance Tax & Residence Nil Rate Band (RNRB)

From the 6th of April 2017 the Government will introduce a new measure to reduce the burden of Inheritance Tax (IHT) on families: the Residence Nil Rate Band (RNRB).

At the moment everyone is entitled to a tax free allowance (the Nil Rate Band allowance) of £325,000 to be applied to their estate on death while any assets above this amount on death are taxed at 40%. Until now, there has been no specific exemption for a residence, or for assets being passed to children or other direct descendants but, from April, the RNRB offers a further tax-free allowance for anyone passing a qualifying property in their Will to direct descendants.

What is a Deed of Variation & How can it Benefit You?

01 December 2016

What is a Deed of Variation & How can it Benefit You?

A deed of variation is a document that allows the beneficiaries named in the Will to change the distribution of the estate. For example, it can allow for a beneficiary to reduce their share in order to give it to someone who did not inherit.

Why is mental capacity so important to making a Will?

14 October 2016

Why is mental capacity so important to making a Will?

Disputes heard in the High Court over the validity of Wills have jumped from 97 cases in 2013, to 164 in 2015. Many of the judgements and decisions made were pivotal on whether or not a testator had the necessary mental capacity at the time their Will was written and signed.
Debilitating conditions such as Dementia are currently on the rise. At this moment there are over 850,000 people living in the United Kingdom right now with it and scarily, this figure is set to soar to 1 million people by 2025. This and unfortunately other illnesses and conditions can affect a person’s memory, their ability to understand and reason. These are all key attributes we look for when creating your Will.

Why do I need a Will?

30 September 2016

The Facts about Wills

Why do I need a Will?

Research has revealed that nearly half of all people with children have failed to write a Will. Making a Will can save relatives a lot of heartache and hassle at an extremely difficult time.

I have recently got married, why do I need a Will?

19 September 2016

I have recently got married, why do I need a Will?

Getting married means many changes in ones life, and one of these should be the changing or creation of a will. We've compiled the most frequently asked questions by married couples regarding their estate and the relevant changes they may need to make.

Cohabiting Couples

22 August 2016

The Importance of Making Wills

Cohabiting Couples

Under the current laws of England and Wales there is no provision if you die without making a valid Will for a partner. The laws relating to the distribution of the estate where you do not have a valid Will in place is known as the laws of intestacy. The laws of intestacy were first introduced in 1925 and made provision for married couples and children and other family relatives. There was no automatic provisions however this was not surprising due to the year it was enacted.

Corporate Benefit Solution

17 August 2016

Why you should have Will writing services as one of your Employee benefits?

Corporate Benefit Solution

Including an employee Will writing service as part of your benefits package on a flexible or voluntary basis shows that you care about not only your employees, but also their family and loved ones.

Tens of thousands of people pass away in the UK every month without a valid Will in place leaving financial and emotional burden on their family and loved ones.

Lasting Powers of Attorney

12 August 2016

Lasting Powers of Attorney

A Lasting Power of Attorney (LPA) is a legal document which gives an individual the right to make decisions on your behalf. The chosen person would be known as your ‘attorney’ and you (the ‘donor’) can choose when these powers come into effect.

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