If you are one of the 46% of UK adults that have been sensible enough to put a Will in place you have taken the most important step to help secure the financial future of your loved ones. However, we can’t underline enough, the need for a ‘proper’ conversation with your family to talk about...
According to research and current figures, £15 billion of assets are lying in the unclaimed accounts of the deceased! This means that our loved ones may never receive cash and savings that could help to financially secure their futures and make a better life for their families. Known in law as ‘Bona Vacantia’ (ownerless goods)...
The move to an online, probate application system hasn’t been easy with well-publicised and inevitable probate application delays. If that wasn’t enough, HM Courts & Tribunal Service (HMCTS) are still the subject of a government consultation where a proposal has been put forward to bring in a new flat rate fee of £273. This marks...
The terms ‘Will’ and ‘Trust’ are often confused. Whilst many people tend to know that they both have something to do with giving your assets to others, they are very different and serve different purposes. However, that’s not to say that the two are linked and complement each other. A Will First and foremost, everybody...
Inheritance hunters, exploiting older, vulnerable people is on the increase according to charities such as ‘Age UK.’ The issue hasn’t gone unnoticed by Labour MP Fabian Hamilton who is currently lobbying for changes to the law to help combat such exploitation. Inheritance hunters are people who seek out and exploit older people, often with dementia,...
A combination of a new electronic processing system and incredibly high demand that has put the probate application service under immense stress has resulted in ‘The Ministry of Justice’ (MOJ) looking to increase ‘Grant for Probate’ fees from £155 to £215. This applies to both probate professionals and individuals. Under the new proposal they are...
Generally speaking – pensions are not considered part of your estate and are not subject to Inheritance Tax. However, there are ways that a pension pot can become part of your estate. Furthermore, there are things that can be done to ensure your partner and family benefits from your pension. To ensure your partner, or...
The number of Wills that are challenged, based on fraud or forgery is increasing – although not great in number. However, this trend does underline the need to ensure that Wills are both up to date and that an individual’s wishes, relating to the Will, are made known to close family and friends. However, should...
Should a loved one die abroad, the fact that they are overseas can add to your stress, compounding the tragedy. However, provided you know what is required, the process of dealing with the situation can be relatively straight forward. Furthermore, there will be help at hand, from a variety of avenues, to help with the...
Making clear those whom you do not wish to benefit from your estate can be as important as detailing the beneficiaries; particularly when it comes to family members – those most likely to contest a Will. Any Will can be contested and quite often this is by a disgruntled or an estranged, family member. When...
