Trusts can be used in various ways, including protecting your assets for your loved ones. You don’t have to have millions in the bank to use trusts to your advantage – anyone can use them to pass assets on more effectively and save a surprising amount of Inheritance Tax. Types of Trusts There are many […]
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You may not pay much attention to the probate process during later life planning. Probate takes place after you pass away and it is a key part of administering your estate. Understanding how it works can help you take steps to make it easier for your loved ones to manage the process through. What Is
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There is much more to Will writing than simply detailing your wishes and signing a few documents. Some obscure facts and knowledge about Wills may influence your decisions. Gifts Can Mitigate High Inheritance Tax Inheritance tax (IHT) is a tax payable on your estate after you pass away. It is expensive and can eat up
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If you are planning your estate, you have likely come across the trusts. However, trusts are surrounded by myths that discourage people from establishing them, causing them to miss out on the wealth of benefits that they offer. Read on to learn more about the myths of trusts and what the facts are. Myths About
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Wills are essential for married couples, but they are perhaps even more important for unmarried couples. Unlike married couples, unmarried partners do not automatically inherit anything should their partner pass away; therefore, it is vital to have a Will in place to ensure that your partner is taken care of. Unmarried Couples and Inheritance Millions
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Later life planning is full of essential documents – Wills, trusts, and Lasting Powers of Attorney, to name just a few. Letters of Administration are another vital document you may need, but what are they used for? Read on to find out more about this potentially vital document. Letters of Administration Explained Simply put, Letters
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The use of trusts in the UK has exploded in recent years, with many people utilising them to protect their assets and safeguard money for their families. As more people are looking to use trusts for their estate planning needs, here are five things to consider when establishing a trust. 1. The Parties Involved There
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Wills sound like something that you should only need after you pass away. However, you can also create something called a Living Will, also known as an Advance Decision. Although it may not be for everyone, there are many benefits associated with creating this form of Will. Living Wills If you are over the age
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Creating your Will comes with many potential mistakes and pitfalls. The laws surrounding Wills and probate are complex, and these common mistakes can have major consequences for your loved ones in the future. 1. Having the Wrong Witnesses Although you may know that all Wills need two witnesses to be valid, you may not know
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There are approximately 5.9 million small businesses in the UK today. Owning a business or having shares in one can have a significant impact on your Estate planning and your Will. If you have not thought about what will happen to your business or have not considered any potential business agreements that may conflict with
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