Legacy Insights
More information about Wills, Trusts, LastingPowers of Attorney and many other ways for you to protect your Legacy.
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Your Lasting Power of Attorney checklist
It is always advisable to have a Lasting Power of Attorney (LPA) in place to ensure that a trusted friend or family member can deal with your affairs on your behalf, should you become unable to manage them. We take a look at the decisions you will need to take before...
Gifts and Inheritance
When something is given away, but the person making the gift still retains the use of it, it is known as a gift with reservation of benefit (GROB) A GROB commonly occurs when parents give their property to their children but continue to live there. While the property...
Who will inherit your property when you die, Joint tenancy and tenancy in common explained
If you jointly own a property at the time of your death, your share will not necessarily pass to the other owner. We take a look at the two different types of joint ownership and what happens when one owner dies. When you buy a property with someone else, you have the...
Can funeral costs be paid out of someone’s estate?
Paying for a funeral after someone’s death can be difficult if money has not been set aside for this purpose. Funeral expenses can usually be paid for from the deceased person’s estate, but it may be necessary to wait until a Grant of Probate has been issued, which...
Survey finds that three-fifths of UK adults do not have a Will in place
Financial services firm Canada Life says that 59 per cent of adults in the UK have not made a Will. This means that some 31 million people have not chosen who to leave their estate to. Who doesn’t have a Will? The study found that 22 per cent of those without a Will...
The Will of Euromillions £161M jackpot winner
The Will of a lottery millionaire has been published following his death at the end of 2019. Colin Weir and his wife Chris won £161 million in 2011. Colin, who was 71 at the time of his death, was from Largs in North Ayrshire. The prize was one of the biggest ever in...
New legislation allows video-witnessing of a Will during the Covid-19 crisis
In July 2020, the Ministry of Justice announced that video witnessing of Wills was to be made legal during the coronavirus pandemic. As health concerns pushed many to take steps to make or update their Wills, practical considerations made it difficult for the document...
Protect your Wealth with a Trust
For many, having a basic Will is no longer enough to achieve your long-term wishes for your loved ones. This is where trusts can be a great way of arranging your affairs. Trusts allow your loved ones to benefit from your assets without being the legal owner. You set...
What will be your legacy?
How to think ahead and plan for your future Most people have heard of Estate Planning and know it is important, even if they have yet to take action. It is the process by which you organise your affairs in order to pass on your material belongings. It does, however,...
Overcoming the barriers to Legacy Planning
Legacy planning seems to be a sensitive topic for many people. None of us is anticipating death with great relish but we all know it is inevitable and, in many cases comes on us unexpectedly, so to plan for it is a wise step.What is interesting in how people process...