Is probate required? Real life problems and the solutions.
Real life problems and the solutions – Is probate required ? Mrs D came in to see us as her husband had just passed away. In his Will he had left everything to her. Most of their assets were in joint names such as their main bank account, a shared savings account and their home. […]
Consideration of Pets in your Will
Consideration of Pets in your Will We are a nation of pet lovers with approximately 12 million households having pets with 51 million pets owned. They are part of the family and very important to us, so it seems right we should give them some consideration when it comes to preparing our Wills. So what […]
Cohabitation – no such thing as Common Law Marriage
There are more than 6 million cohabiting couples in the UK and the number is rising. However, despite how common an occurrence it now is, problems can arise frequently for these couples upon death or separation. If you are co-habiting, you do not have the same rights as a married couple; and contrary to popular […]
Did you make a New Years resolution?
You have joined the gym, signed up to a more active lifestyle, given up chocolate and wine. But do you need to put your Legal Affairs in Order? Not sure then read on……. Do you have a Will? If not you are not alone two thirds of adults in the UK don’t, but do you […]
Your duties as an Attorney
Duties of Attorneys The duties as an Attorney are very similar whether acting under a General Power of Attorney, an Enduring Power of Attorney or a Lasting Power of Attorney. The duty of Attorney must be to always act in the best interests of the donor (the person giving the Power) and consider the needs and […]
UK Trusts Registration Service procedure
Why do trusts have to be registered using the New UK Trust Registration Service? HM Revenue and Customs (HMRC) accepted registration of trusts with paper form 41G (Trust) until April 2017 and the new UK Trust Registration Service is a replacement online trust registration procedure, enabling trustees to maintain trust records. The opportunity has been taken […]
Only 40% of UK population have a Will
According to the survey done by Perry’s, a London Accountancy firm, only 40% of the UK population have a Will. Are you one of the 40% and if so I wonder how old that Will is and whether it still fulfils your wishes? If you are one of the 60% who do not have a […]
Are Lasting Powers of Attorney too risky?
You may have heard on radio or seen in the press comments made by Denzil Lush, a retired senior judge from the Court of Protection when he stated he would never grant anyone a lasting power of attorney over his financial affairs, because of the serious risk of abuse. I was somewhat dismayed to read […]
Did you know that your estate can now benefit from a new Inheritance Tax exemption?
Did you know that your estate can now benefit from a new Inheritance Tax exemption? The new IHT Residence Nil Rate Band (RNRB) is in addition to an individual’s own Nil Rate Band, currently £325,000. The new RNRB is currently £100,000 and will increase by £25,000 each tax year until 2020/21. This new exemption will […]
Residence Nil Rate Band Explained
Residence Nil Rate Band Explained – By Danielle Harvey The new IHT Residence Nil Rate Band (RNRB) will be introduced April 2017. It is in addition to an individual’s own Nil Rate Band of £325,000, and conditional on the main residence being passed down to direct descendants (e.g. children, grandchildren). The RNRB will start at […]