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 […]
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07/04/2017 | Nicola Richardson
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 […]
I’ve been named as an executor. What does this mean?
30/03/2017 | Nicola Richardson
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 […]
Appoint Guardians
02/03/2017 | Nicola Richardson
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 […]
Happy Christmas from Richardson’s Wills
12/11/2016 | Nicola Richardson
I would like to take this opportunity to wish everyone a very happy Christmas. Christmas is a time that stirs up a lot of emotions. It is a time for families to get together and for children to reach the peak of excitement as they wait to see what Santa will bring them. I loved […]