Wills are critical legal documents that must be accurately written, signed, and witnessed for your wishes to be carried out after your death. But how do you properly witness a Will and have yours witnessed in turn? Several caveats come with being a witness that must be followed for the Will to be valid. Witnesses […]
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No one wants to be hit with a huge Inheritance Tax bill after a bereavement. However, new measures have recently been introduced to reduce this taxation, meaning you can leave more for your loved ones. What Is the Residence Nil Rate Band (RNRB)? A measure that enables an additional amount of your estate to be
The New Residence Nil Rate Band – How To Qualify for the IHT Uplift Read More »
Did you know that you can order DIY Will kits online? They promise to be simple, easy, and cheaper than a solicitor. Although this may seem perfect on paper, there are many pitfalls associated with DIY Wills. Why Are DIY Wills Appealing? Many people opt for a DIY Will due to the cost of having
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When creating a Will, you need to appoint an Executor for your estate. Choosing your Executor can be difficult, as issues and conflict within your family can get in the way. However, you can also appoint a professional Executor, which comes with its own unique benefits. What Is the Role of an Executor? An Executor
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The government is introducing a new care cap that will limit the costs that people pay for care throughout their lifetime. From October 2023, those arranging for home or residential care will not have to pay more than £86,000 in lifetime costs. Anyone with assets worth less than £20,000 will not be required to contribute
The New Care Cap the Government is Mooting Read More »
Lasting Powers of Attorney (LPA) is a legally binding document that allows people to appoint a person of their choosing to make decisions for them. They are often created in preparation for, if, or when an individual loses mental capacity and cannot make decisions for themself. Though LPA’s must be agreed upon when the person
Deputyship Orders in the Event of Not Having Lasting Powers of Attorney Read More »
A Property Protection Trust (PPT) – also known as an Interest in Possession Trust – is a complex Will for two people, who own property between them. It has several caveats in it that cannot be changed after the death of the first person. PPT’s are not suitable for people who own property in their
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A Lasting Power of Attorney (LPA) is a legally binding Government-backed document that allows you (the Donor) to appoint a trusted friend or family member of your choice (the Attorneys), to make decisions for you, should you lose mental capacity or no longer wish to make decisions for yourself. This gives you more control over
Why You Need a Lasting Power of Attorney (LPA’s) Read More »
A Flexible Life Interest Trust (FLIT) arises when a beneficiary (usually a spouse) is left a lifetime interest in property (and often assets). This means that the beneficiary is entitled to receive income from the Trust, for life, but they are not entitled to receive capital as this will often pass to children from a
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Trusts have been used to protect land and houses since the Middle Ages. They were originally designed by wealthy Landowners who wished to protect their assets by leaving them in the capable hands of ‘trusted friends’ when going off to battle, making sure their lands were kept safe for their children – their bloodline. In
Family Protection Trust Overview Read More »
