Planning for later life is vital if you want to minimise your tax burden, protect your assets and make sure that your loved ones will be provided for. Despite this, decisions are often left until the last minute. Even if your retirement is many years away, it is never too early to make a Will and to consider the most effective ways of managing your estate.
New Year, New Changes – as of 26th January 2022, the probate application fee will be increased to £273. This will be a flat fee applied to professional and personal applications for England and Wales, under the amendment to the Non-Contentious Probate Fees Order 2001 published in December 2021. The Ministry of Justice have highlighted […]
One of the questions we are regularly asked by clients is whether they can/should transfer their property to others (most commonly, their children) or alternatively, into a trust, as a way of either avoiding inheritance tax or having to sell the property to pay for care home fees. In short, the answer is no. In […]
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Many people are tempted to make their own Will rather than seeking legal advice. Quite simply because it seems to be the cheaper option and should be easy to do as they know what they wish to achieve. Occasionally there is a genuinely satisfactory outcome, but increasingly it creates more problems than it solves. Bev […]
Do you own stocks and shares in one or more companies? Do you know where your Share Certificates are? With many of us currently spending more time at home, now is the perfect time to make sure your personal documents are in order. Most shareholdings are now held electronically (known as Corporate Nominee) but there […]
The most common enquiries that I am currently receiving are from clients asking about making a Will during lockdown. People want to know whether it is possible under the current restrictions and whether it is advisable to wait until there is a return to normality. It goes without saying that everyone is concerned about the […]
Are you aware that there is a looming incapacity crisis? Have you prepared a Lasting Power of Attorney? You may feel that you don’t need to make an LPA while you are healthy and have full capacity to make all financial and health and welfare decisions. However, when you are healthy and well is absolutely […]
Many people enjoy watching TV shows like Heir Hunters in which long lost relatives receive life changing inheritances from a distant relative they were not even aware of, but this rarely happens in reality. What really happens to an estate when somebody dies without leaving a Will depends on the family that the deceased has […]
When helping clients with a Will, I am sometimes asked what will happen to their Facebook page in the event of their death. I have to respond that unless you have stated what you want, it is likely that nothing will happen. Your Facebook page will continue to exist just as it had while you […]
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What is a letter of wishes? A letter of wishes is a confidential document that expresses your personal wishes about how you would like things to be done after your death. Although a letter of wishes is most frequently drafted at the same time as making or updating your Will, it can be created separately […]
A DIY Will is cheap to buy, but it can cost you a lot more In difficult financial times it is understandable that some people decide to make a DIY Will without involving a qualified legal practitioner but this can create significant risk. Amy Pettitt, a solicitor in the probate department at Fraser Dawbarns, discusses some problems that […]
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