Trust, Wills and Probate

  • Assessing Mental Capacity - Guidance

    One of the conditions which must be satisfied for a will to be valid is that the person making it must be of sound mind. With an ageing population, cases involving disputes over a testator’s mental capacity are becoming more common – it is...

  • 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...

  • 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...

  • 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 unique...

  • 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 - Claiming after death

    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...

  • Estates - What Happens if Values Fall

    One of the biggest problems now facing executors is that as the recession progresses, most assets, other than cash, are falling in value, which can mean that the value of an estate for Inheritance Tax (IHT) purposes is greater than the market value later on....

  • Heir Hunters - Take Advice!

    Until the recent publicity afforded by television shows on the subject, many people might not have realised that ‘heir tracing’ companies exist, let alone that they research ‘promising’ estates by looking at public records and then...

  • 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 A...

  • Lasting Powers of Attorney

    In October 2007 there was a fundamental change on the way in the way powers of attorney are created and the powers that they can give attorneys, when the Enduring Power of Attorney (EPA) was replaced by the Lasting Power of Attorney (LPA). EPAs are no...

  • 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...

  • 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 £25) may be...

  • Undue Influence A Clarification of the Law

    One of the defences against repossession of a house, where a secured debt or mortgage is not repaid, has been where the partner taking out the loan brought 'undue influence' to bear on the other partner. The leading case was a House of Lords decision (...

  • What Happens on Intestacy?

    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)  were increased from 1 February 2009 to the following: • £250,000 (from...

  • 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. ...

  • 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...

  • What is a Trust?

    A trust comes into effect when a ‘settlor’ places money, land or other assets in the hands of trustees. The trustees are the legal owners of the property but are obliged to hold and manage the property for the benefit of a person or a group of...

  • 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,...

  • 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 normally...
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Latest News

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