People are often prompted to consider or make LPA’s (Lasting Powers of Attorney) following a ‘trigger event’ like an accident or a major health diagnosis. However, this is not always the best time. A lasting power of attorney is a legal document that lets you (the donor) appoint one or more people (known as attorneys)...
The old idea of a family structure being a married couple with 2.4 biological children is fast becoming a thing of the past. The blended family model with parents remarrying and with children from previous relationships is very much the ‘new normal.’ This makes the need for meticulous detail in estate planning and Will writing...
Sideways Disinheritance is a term that relates to children losing out on their share of their parent’s estate because of a parent’s new partner. In most cases, if you are the first to die your share of the property and other assets is left to your partner. If your partner eventually meets a new partner...
Her Majesty the Queen celebrated her 96th Birthday this year (2022) and it’s interesting to consider that in 1926, the year of her birth, the average life expectancy for a women was just 62. Time has certainly moved on and so too has life expectancy. The International Longevity Centre estimates that 0.15% of the UK...
If you own assets abroad such as second home, it is vital that you re-look at your Will – obtaining expert advice from your Will writer and Estate Advisor. You need to be aware that your UK Will, made under English Law, does not necessarily guarantee that your overseas property is passed to your intended...
Probate is the legal term given to the administrative process that is followed after someone has died. It ends with the ‘Probate Registry’ issuing a ‘Grant of Probate’ OR, in the absence of a Will, a ‘Grant of Letters of Administration.’ The ‘Grant of Probate’ will usually be issued in around 4 and 8 weeks...
For those getting married for a second time, planning a new will can present issues, particularly with regard to children from a previous relationship. It is also the case that many people, marrying for the second time, are unaware of the affect that their new union will have on their existing will. Here, we explain...
Recent research, conducted by the ‘resolution Foundation,’ has revealed that the value of inherited wealth, handed down to younger generations, is set to double over the next 20 years. This trend very much amplifies the need for people to fully appreciate the value of their estates and the need to plan ahead in order to...
If your estate is worth more than the Inheritance Tax (IHT) threshold of £325,000 (or £650,000 for married couples and Civil Partners) it is likely that, when you die, your estate will be subject to IHT at 40%. One of the most straightforward ways to reduce the IHT liability, on your estate, is to give...
In September 2020, the government allowed Wills to be witnessed via a live video facility. With the ongoing Covid situation, the ruling has been extended until 2024. Under the ‘1837 Wills Act,’ two witnesses signatures are required in the physical presence of the Testator (the person making the Will). With people shielding, social distancing and...
