Legacy Insights
More information about Wills, Trusts, Lasting Powers of Attorney and many other ways for you to protect your Legacy
What expenses can the Executor of a Will claim?
The person named in a Will as the executor is responsible for the winding up of the estate when someone dies. The role can be onerous and time-consuming as well as involve numerous expenses. Dealing with the administration of an estate can be complex. An executor...
What should you do if a beneficiary cannot be located?
The job of the executor or administrator of an estate includes distributing assets to the beneficiaries. When a beneficiary cannot be found, it can cause complications. After someone dies, their estate will be wound up by their personal representative. If they have...
Using tax planning to minimise your Inheritance Tax bill
Insurance company NFU Mutual recently analysed HM Revenue & Customs receipts, finding that the average Inheritance Tax bill for the year 2018/19 was £199,000. The standard Inheritance Tax rate is currently 40 per cent, which can result in a substantial bill for...
When someone dies: a step by step guide to administration
When someone dies, the administration can seem overwhelming at what is a very difficult time. We take a look at each step to be taken. Following a death, dealing with all of the necessary paperwork is an onerous task. If a Will is left, it will appoint an executor who...
Making provisions for pets in your Will
As a nation of animal lovers, we are understandably concerned about what will happen to our pets when we are no longer around to look after them.
Business Lasting Power of Attorney and Probate
Business owners should plan for the future with a business Lasting Power of Attorney and consideration of the probate situation in respect of their enterprise. A Lasting Power of Attorney (LPA) is a document that gives legal authority to a nominated attorney to act on...
Tips for selling a property after someone has died
It is often the case that after a death there is a property to sell. This can be a time-consuming and sometimes difficult task. We take a look at the steps you will need to go through. Obtaining a Grant of Probate or Letters of Administration If the deceased...
What happens to cryptocurrency when I die?
With cryptocurrency becoming more widely held, it is important to understand what will happen to this type of asset after someone dies.
The drawbacks to being a private executor
An executor, appointed in a Will to finalise someone’s affairs after their death, can be either a professional or a private individual. According to a survey conducted by market research consultancy IRN entitled UK Wills, Probate and Trusts Market 2020, the number of...
Saving money with a deed of variation
After someone’s death, their beneficiaries have the option to change the way in which the estate is distributed. This is done by executing a Deed of Variation. When somebody dies, their affairs are wound up by their personal representative, either an executor, if they...