At a time of grief, it can be an advantage to have a professional on hand to help you sort out probate, and in many cases a solicitor or accountant who understands the family situation and finances can be a significant benefit. However some banks have been charging rather steep fees and the practice of […]
Parents want their children to be able to enjoy the security of home ownership and, generally, they want to offer support in any way they can. However, the legal technicalities and potential pitfalls of BOMAD lending for any outcome should not be overlooked. Some families might feel that it is unnecessarily formal to seek legal […]
A discretionary trust is the most flexible form of trust as it enables the Trustees to use and distribute the income and capital of the trust entirely at their discretion. They have the power to either retain or distribute income as they see fit. Inheritance Tax position for Discretionary Will Trusts If an individual leaves […]
During our lifetimes many of us will find ourselves dealing with the affairs of someone who has died. Most often this will be a parent, but those with particular financial skills may find themselves being asked by a wider set of family and close friends. A person’s estate is made up of the assets, property […]
I don’t really need a Will as my spouse will get everything when I die. Think again. If you die without a Will your estate is subject to the rules of intestacy. It is a common misconception that these rules will be logical and straightforward. Logical in this case meaning that the estate passes to […]
If you are in this position you may be particularly concerned that your home may at some point need to be sold in order to meet the costs. There are however steps you can take to preserve the value in your home. If your home is your main asset, and you are worried about leaving […]
What is a nuptial agreement? The purpose of the nuptial agreement is to record what would be included in the financial settlement if the parties were to divorce and also record, the assets that are to be ring-fenced i.e. kept apart from the matrimonial assets. A nuptial agreement entered into before the marriage ceremony is […]
We suggest 5 top tips to avoid making an invalid Will during these uncertain times: 1. Always seek Professional Advice There are a number of important considerations when preparing a new Will. For example, who will benefit from your estate, who will be responsible for administering your estate and will there be any Inheritance Tax […]
Loss of mental capacity and deputyship orders Sometimes it’s really difficult to spot when a loved-one is not coping. Many elderly people put on a determined act of independence and by the time a loved-one or friend eventually finds out that the person needs help in making important decisions, it’s often too late to put […]
When Someone Dies While Living Outside of England and Wales The authority to administer the estate of a person, who has died and lived outside England and Wales, is conferred by the Grant of Representation from the country of their domicile. However, when the deceased also owned assets in England and Wales, such as property, […]
