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Biggest mistakes made when writing Wills
The problem with making mistakes when writing your Wills is that they often don’t come to light until you’ve passed away by which time, it’s often too late. We have drawn together a list of some of the most common mistakes people make when writing their Wills. Remember though that taking professional advice from me (Sara – SLS Wills and More) means that we’re able to avoid pitfalls help you put a document in place that will stand the test of time. Common mistakes: Being too vague when detailing who you would like to benefit from your estate or with what you’re gifting. This could mean that the gift fails…
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Famous Wills and Estates
Jimi Hendrix Rock star Jimi Hendrix died 50 years ago in 1970 but is a perfect example of the importance of having a Will. The battle over his estate raged on for more than 30 years because he had no Will. What makes matters more complicated is that musicians often generate money through royalties after they’ve died. William Shakespeare The famous playwright’s Will is an interesting one and is even more fascinating because it’s signed 3 times. Most notably he left his wife his second-best bed, but according to the national archives, he left the bulk of his estate to his elder daughter, Susannah Hall and he left £300 to…
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Commercial/Business Lasting Powers of Attorney – What are they?
A lasting power of attorney (LPA) is a legal document through which you authorise a chosen person to make certain decisions on your behalf. The decisions that you authorise your chosen person to make can be either in relation to your finances, for which an LPA for property and affairs will be created, or in relation to your personal life, where an LPA for personal welfare will be created. An LPA is a very important document, as it ensures continuity in the management of your life and your finances, should you become unwell or lose the capacity to make decisions. You may feel that an LPA is not necessary, and assume…
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What does a Lasting Power of Attorney do?
L asting Powers of Attorney (LPA) What are they? This is an important legal document in which you (the donor) appoint people your trust (attorneys) to be able to make decisions for you in the event that you become unable to make them yourself or should you decide not to make decisions for yourself. There are two different types of Lasting Powers of Attorney. One giving power over your Health and Welfare and one for your Property and Financial Affairs. When can they be used? They can only be used when they are properly registered with the Office of the Public Guardian (a Gov Body) known as the OPG.…
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What are the main reasons people write Wills?
What is a Will? As many of us know, a Will is an important legal document in which you express how you would like your property, cash and chattels to be distributed when you’re no longer around. It also makes provision for guardianship of minor children, allows you to appoint people you trust to administer your estate (manage the probate process) and can be used to mitigate tax. There are lots of reasons why everyone ought to have a Will, and in this article, we’re going to explore some of the most common reasons people write their Wills. Reasons to Make a Will Just purchased a house or home This…
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Digital Inheritance Vault
Safe4, in association with the Society of Will Writers, have created a facility for the secure online storage and management of all the information that comprises of an inheritance plan, with provision for the rapid and efficient completion of the probate process. So, what is Digital Inheritance Vault? The Safe4 Digital Inheritance Vault is an internet-based service that allows your will writer to place all of the information required for your inheritance plan to be held in a secure facility that you can access at any time, from anywhere with an internet connection. You can also upload information to the vault yourself, and to edit and update documents that…
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Who Can Inherit if There is No Will – The Rules of Intestacy
Talking to loved ones about preparing a will may seem grim, but the reality is without a will, things could potentially become complicated and stressful. When a person dies without leaving a valid will, their property must be shared out according to certain rules. These are called the rules of intestacy. A person who dies without leaving a will is called an intestate person. Only married, civil partners and some other close relatives can inherit under the rules of intestacy. If someone makes a will but it is not legally valid, the rules of intestacy decide how the estate will be shared out, not by the wishes expressed in the…
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UK Law Change Opens Doors for Mixed Sex Civil Partnerships
The government have predicted thousands of mixed sex couples will enter into a civil partnership in 2020. A Government Equalities Office impact assessment published in July suggested that around 27,000 opposite sex partnerships could be registered in 2020 but that the uptake could be as high as 84,000. Mr Keidan and Ms Steinfeld helped launch a campaign and brought a judicial review legal challenge, arguing that the 2004 Civil Partnership Act breached article 14 of the European Convention on Human Rights, on the grounds that it discriminated against mixed sex couples. The couple lost in the lower courts before winning a landmark victory in the Supreme Court last year, which…
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Funeral Costs Increased by 3.4% in 2019
Although the thought of pre-planning your own funeral may feel somewhat morbid, there are actually many benefits to getting preparations in order whilst you are still alive and well. Today, many people choose to take out pre-paid funeral plans to obtain peace of mind for themselves and their loved ones. A funeral plan can also give you the freedom to get on and enjoy life, with the peace of mind that your funeral arrangements are taken care of. With this in mind, the average cost of a funeral has increased by 3.4% to £4,417 since last year. The increase is pushing a lot more grieving families into financial difficulties according to the latest ‘Cost of…
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What Happens if You Don’t Have a Power of Attorney?
Approximately 1 in 4 people in the UK will experience a mental health problem each year. In England, 1 in 6 people report experiencing a common mental health problem (such as anxiety and depression) in any given week. If there comes a time in the future when you don’t have the mental capacity to make or communicate your own decisions, and you haven’t created a valid lasting power of attorney or enduring power of attorney, it may be necessary for the Court of Protection to become involved. What happens if I lose capacity and don’t have a power of attorney? If you’re married or in a civil partnership, you may…
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