Personal belongings (or ‘chattels’) can be the centre of a dispute between family members when someone dies. Often the monetary value of these items is minimal, but the sentimental value is very important to your loved ones, and can lead to disappointed beneficiaries spending lots of time and money on attempting to obtain personal chattels… Read more »
Vicky Timothy, Senior Associate Solicitor in our Private Client team, outlines the main benefits of Wills for business owners and, also, some of the risks you may wish to avoid if you die intestate (without a Will in place). There are many reasons why business owners should ensure that they have a Will in place…. Read more »
It is a very difficult time when a loved one passes away. This feeling can be worse if the provisions of the Will are unexpected, or if there is conflict between the families over the distribution of the estate, leading to arguing over a Will. There has been a surge over the last few years… Read more »
When choosing your own care home, it is presumed that you should get the final say in a decision that ultimately determines where you will be living. However, this is not always the case; our team explains below. In most cases, you can choose your own care home. The exception is if you are too… Read more »
A Lasting Power of Attorney (LPA) is a legal document whereby you can give one or more persons (your attorneys) the authority to make decisions on your behalf, in the event that you are unable to make decisions for yourself. There are two types of LPA; one deals with financial matters, and one deals with… Read more »
If you own a business or have farmland which may qualify for reliefs from inheritance tax, it is a good idea to have a Will in place in order to maximise this generous tax saving. HMRC have specific rules about apportioning the relief between chargeable and exempt beneficiaries; so without a Will, or if you… Read more »
In April 2017, the Government introduced the Residence Nil Rate Band (RNRB) which provides an additional allowance for married couples where the surviving spouse leaves their property to direct descendants (i.e. children, grandchildren, step-children). The intention was to reduce the burden of inheritance tax for families and make it easier to pass property down to… Read more »
Coping with the death of a close family member or friend is understandably difficult and, at a time of loss, there are a number of practicalities that need to be dealt with more quickly than others. The initial steps that should be taken immediately after someone dies are: Register the Death The death should normally… Read more »
If you have been appointed as an executor of someone’s Will, or have taken up a role of personal representative if there wasn’t a Will, you may have amassed a number of estate administration documents during the course of the process. These papers were important to ensure everything is accounted for, and in particular, to… Read more »
The Coronavirus pandemic has caused the stock markets to plummet in value and the property market to be put on hold. For those who have died within 12 months and paid inheritance tax on qualifying shares, which have now been sold at a loss, it may be possible to claim for a refund, as inheritance… Read more »
