You’ve finally made (or updated) your will, but where are you going to keep it? Storage of wills is REALLY important. Executors/family must be able to find the will when someone dies. It’s important to make sure it has not been damaged or lost. A signed will is an...
…..but what happens when your partner dies? Many people still believe in the so called ‘common law marriage myth’, which is the erroneous belief that after a certain amount of time of living together, the law treats cohabitants as if they were married. This is not a...
When someone dies, online providers will not allow another person to access their account or take it over, but they can take steps to close down or deactivate accounts, or pay out assets. Most institutions will only communicate with someone who is legally appointed as...
Each year millions of Wills and important legal documents are lost, costing families millions of £s and resulting in unnecessary family crisis and disputes. If you have gone to all the time and trouble to make your Will, you may think you’ve got everything covered....
Inheritance Tax receipts increase: will you be affected? Figures recently published by HMRC show that Inheritance Tax (IHT) receipts between April 2021 and March 2022 were up by £700m to £6.1bn. This represents a 13% increase compared to the previous year. HMRC has...
In 2017 the rules on Inheritance tax (IHT) changed, with the intention that eventually married couples and civil partners will be entitled to pass on assets worth £1 million, including the family home, without paying any inheritance tax by adding a new Nil Rate Band...
Joint Tenants or Tenants in Common There are 2 ways of owning a property* – Joint Tenants (JT) or Tenants in Common (TIC). When a property is bought and registered with the Land Registry, the electronic title deeds will show who the owners of the property are....
How can you leave your property to your children but allow your new partner to stay living in the house? By using a Property Will Trusts for 2nd marriage Case study DAVID owns a house worth £300,000. He bought it after his divorce settlement. It’s in his sole name. He...
Whilst the majority of the country remains in lockdown due to the Covid-19 pandemic, many people are continuing to seek constructive ways to fill their time, from putting their financial affairs in order, reviewing life insurance or savings & pensions to arranging...
If you have children, what will happen to them in the unlikely event that you die and they are left with no parents to look after then? It may not be something you’ve considered, or wish to think about, but your children’s future security is important to you. Perhaps...
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