Trust, Wills and Probate

• Asset Valuation Problems - Chattels

• 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 opposed to...

• Avoiding Inheritance Tax with Discounted Gift Schemes

• 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 straightforward...

• CGT and Shares in Estates Valuation Trap

• In the UK, there are quite generous exemptions from Inheritance Tax (IHT) which apply to business assets. One problem with making use of such exemptions is the effect this may have on the subsequent value of the relevant assets for Capital Gains Tax (CGT)...

• Changing Wills For Benefit

• Contact Us 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...

• Charity Donations Through the Tax Return

• Contact Us 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...

• Civil Partnership Act - New Will Needed

• Contact us for advice. The Civil Partnership Act became law on 18 November 2004. From 5 December 2005 the Act allows same-sex couples to have their unions recognised in the UK as the equivalent of marriage, by registration of a civil partnership. The...

• Cohabitees and Death - Who Can Claim?

• 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...

• Domicile Opens Door to Inheritance Claim

• Contact us for advice. There are circumstances under which people who have a reasonable right to expect provision is made for them out of the estate of a deceased person can claim against the estate under the Inheritance (Provision for Family and...

• Helping Those Who Cannot Help Themselves

• With increased life expectancy, it is becoming increasingly common for people to cease, at some point, to be able to manage their own affairs or at least to manage all of them. The need to protect those who cannot protect themselves as never been greater....

• Helping Your Executors

• 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 make sure your...

• How do I leave money in my will?

• 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. Contact us for advice. Remember...

• Lasting Powers of Attorney

• 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 the Lasting Power of Attorney...

• Lasting Powers of Attorney The New Law in Detail

• There has been a fundamental change to the way in the way powers of attorney are created and the powers that they can give attorneys. The change stems from the recent Mental Capacity Act (MCA). If you are concerned that you or one of your relatives...

• Mental Capacity Code of Practice

• In April 2007 the Department of Health 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 a criminal...

• Mental Capacity - The Law

• Mental capacity has always been something of a problem area of the law. The aim of the Mental Capacity Act 2005 , which became fully operational in October 2007, is to put the administration of the various areas of law in which mental capacity is in...

• Statutory Wills

• It is a source of concern to lawyers and families alike that the majority of people never make a will. Often, the intention to make a will is there, but somehow the person never seems to get around to it and dies or becomes incapable before a will can be...

• The Unclaimed Assets Register

• 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 worthwhile. So far,...

• Varying Wills After Death

• 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 vary the will...

• What Happens on Intestacy?

• 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 liability for...

• What Happens on Intestacy? New Limits

• The levels of statutory legacy (the amount that surviving spouses or civil partners are allowed to inherit if their spouse/civil partner dies without leaving a will) is to be increased from 1 February 2009, according to an announcement by the Ministry of...

• What is Undue Influence?

• There have been a considerable number of cases over the last couple of years in which families (mainly) have sought to have wills invalidated, alleging that the will was written under the undue influence of someone close to the testator. The law...

• What is a Lasting Power of Attorney?

• A Lasting Power of Attorney (LPA) is a legal document that you can use to appoint someone you trust to handle your financial affairs, during your lifetime. The person authorised to do this is called the 'attorney' and the person making the LPA is called the...

• What is a Spouse?

• Under the Housing Act (S17) a spouse or civil partner has the right to succeed, in most circumstances, to an assured tenancy where he or she was cohabiting with the deceased immediately before the death. Whilst that is all reasonably clear, the...

• When Wills Will or Won't

• For a will to be valid, it must meet three criteria in relation to the person making the will: They must understand the effect of the will; They must understand and recollect the extent of the property which is the subject of the will; and ...

• Who Decides Your Final Resting Place?

• 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, your...

• Who is Under the Influence?

• 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, it is not...

• Why you need a Trust Deed if you buy property jointly

• When you begin living together as a couple, without being married, it is best practice to set up a trust deed to make clear your joint wishes and intentions concerning ownership of the house you live in. Preferably, this should be in association with a ...