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“I only need a simple Will – You don’t know what you don’t know”
In this blog, I would like to differentiate between simple and complex Wills, and perhaps why it is a good idea to have professional advice. That isn’t to say that I will always advise the need for complex (typically more expensive Wills). What I will always do is advocate professional advice and provide this specific to your needs. A little insight into my work I saw a client recently who told me that he did not need advice because his estate was straightforward – 2 properties and some savings. His London property was to be left to his daughter, and his home to his partner, and he is not leaving…
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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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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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Commercial Lasting Powers of Attorney – Essential for business owners
A lasting power of attorney (LPA) is a fundamentally important legal document through which you authorise a chosen person to make certain decisions on your behalf. The decisions that you authorise your attorney 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,…
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What is Estate Administration?
Estate Administration is the process of dealing with a person’s legal and tax affairs after they have died. It involves far more than obtaining a Grant of Probate (Confirmation in Scotland) which is just one element of the process. This means dealing with all their assets; such as property, shares and personal possessions, paying debts and paying any Inheritance Tax and Income Tax. Whatever is left in the estate is then transferred to the beneficiaries. Estate administration can be extremely complex and is required after every death, whether or not there is a Will. In order to complete the estate administration process, there are a number of tasks that need…
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Making Provisions for Your Pet When You Pass Away
Have you ever considered what would happen to your pet when you pass away? All too often, it’s simply assumed that a dog or cat will be taken on by friends or family members. Sadly, not everyone is able or willing to take on responsibility for pet care after the death of an owner. So, it may be wise to consider, who will look after your pet? If you’ve already written a will and bequeathed your entire belongings to a loved one or expressed a wish for someone to care for your pet when you die, they are not duty-bound by law to look after any pets you leave behind.…
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Executor Advice from SLS Wills & More
A substantial number of people act as an Executor every year; however, many people are still unaware of the responsibilities that come with the role. If you’ve been named as an Executor in someone’s Will, you are responsible for handling that person’s affairs when they die. You will be required to carry out the instructions in their Will and take care of all the legal and financial affairs that need to be handled after death. This means dealing with all their assets (such as property, shares and personal possessions), paying debts, paying any Inheritance Tax and Income Tax and transferring the inheritance to the beneficiaries (those who are inheriting from…
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Funeral Plans from SLS Wills & More
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. The average cost of a funeral is increasing ever year. The national average is £4,200 (as of June 2019) and it is expected to double in the next 10 years. Even the most…
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