Trust, Wills and Probate
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When dealing with an estate, an increasing problem for executors is the valuation of assets in the form of the chattels of the deceased. In probate terminology, chattels are the ‘everyday’ assets such as furniture and ordinary possessions, as...
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Inheritance tax (IHT) is payable at 40 per cent on the net value of a person’s estate above (2008/9 rates) £312,000 (the current nil rate band). It affects an increasing number of people owing to the rise in house prices in recent years. One...
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A will expresses the final wishes of the deceased person and it is commonly thought that a will is irrevocable after death. However, provided everyone agrees, it is normally possible to vary a will provided that the application is made within two years of...
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From 2003-4 Self-Assessment Tax Returns have included a facility to enable individuals to donate some or all of any tax repayment to a chosen charity.
Participating charities have signed up with the Inland Revenue and been allocated a...
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When one member of a cohabiting couple dies, it can come as an unpleasant surprise to the bereaved partner to discover that not all of their late partner’s estate will pass to them in the absence of a will. It is only when this happens that many people...
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Being an executor is a demanding job at the best of times and a task that is made all the more difficult when the deceased has not given proper thought to the problems their executors will face.
Here are some of the things you can do to...
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It's easy to include a charity in your will, but you should always consult a professional such as a solicitor or financial adviser to be sure your will reflects your exact intentions and you understand tax implications.
Remember A...
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There was a fundamental change on the way in the way powers of attorney are created and the powers that they can give attorneys. which was introduced in October 2007, when the Enduring Power of Attorney (EPA) was replaced by...
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The Department of Health has introduced a new Mental Capacity Advocate service. At the same time, a new code of practice was introduced which makes it clear that the ill-treatment or neglect of a person lacking mental capacity is...
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With increased life expectancy, it is becoming increasingly common for people to cease, at some point, to be able to manage their own affairs. The need to protect those who cannot protect themselves has never been greater. For example, do you know how you...
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Many people have assets which they have forgotten about – old bank accounts, shares or premium bonds for example. If you think you or a relative may have lost track of some of their assets a search of the register (which costs £18) may be...
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It is widely thought that a will can be changed after the death of the person who made it (the testator). Although this can be the practical effect of arrangements between beneficiaries, technically post-death variations do not in fact...
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In spite of the best endeavours of the legal profession, as well as frequent blandishments in the press, a surprising proportion of people still die without having made a will.
Some people, no doubt, think that provided there is no...
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Under the Housing Act (S17) a spouse has the right to succeed, in most circumstances, to an assured tenancy where he or she was cohabiting with the deceased spouse immediately before the death.
Whilst that is all reasonably clear, the...
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One of the most common statements of wish in a will is a statement outlining how one’s remains should be dealt with. Many people think such a wish is part of the will per se and is binding on the executor, but this is not strictly the case. In law,...
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The law recognises that some people (such as solicitors or accountants) have a high degree of influence over other people (their clients), since clients hire their professional advisers for the specific purpose of giving advice.
However,...
