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During self isolation it will be increasingly important for vulnerable people to have lasting power of attorney in place for their property and financial affairs. If you are not able to leave your home for fear of contracting the coronovirus you will need someone to help you with your financial affairs. Whether it be paying […]
A recent article from the Telegraph revealed how a personal representative was left with a staggering Inheritance Tax (IHT) bill of £341,278 when he was administering a £1.2 million estate. Mr Harris misguidedly distributed the assets to the beneficiaries before all of the Inheritance Tax had been paid. He did this with the understanding that one beneficiary […]
The way couples own their home For most couples their home is their largest asset. The thought of it ending up in the wrong hands on our death or our partner’s death is horrifying. Most couples own their homes as ‘Joint Tenants’. This means that when one dies, the survivor automatically becomes the owner of […]
Around six million people have experience of acting as the executor of a Will but just 4% realise that they are legally responsible for the accurate distribution of the estate that is entrusted to them. An executor is responsible for administering the estate and is accountable to Her Majesty Revenue and Customs (HMRC) and the […]
Currently in the UK, only 67% of adults have a valid Will, and whilst not all of them will have needed to appoint guardians for their children, it is certainly something that many of them will have considered. Deciding who you would like to bring up your children is likely to not be easy. However […]