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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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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Creating a Will and choosing your beneficiaries is not an easy thing to do. It takes careful consideration and thought, and in some cases, someone may still show up to stake a claim to the inheritance in the future. However, there are ways to limit the risk of an inheritance dispute! What is an Inheritance
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If you created a new Will after your marriage, you may already know that a new marriage revokes any previous Will that you created. But did you know that the same rules don’t apply to divorce? If you have recently divorced, you may be wondering how this affects your Will. There are many ways to
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When looking to begin creating your Will, you may have heard the term mirror Will several times. A mirror Will is a form of Will that you can draw up with your spouse, but are they a good idea? What Is a Mirror Will? A mirror Will is a Will that is almost identical to
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