Posted on 7th December 2021
Posts tagged “Wills”
Posted on 24th November 2021
It’s a new question for our technological age – what happens to your digital assets when you die?
Posted on 12th November 2021
In a recent High Court case a widow was awarded £80,000 from her brother-in-law’s inheritance following a dispute over property ownership. Here’s what happened.
Her husband has made a Will leaving his estate in full to her. However, after his death, there was a dispute concerning the family home that she had shared with him. The property was registered to her husband and his brother. It had been owned by their mother until she died in 2009, but it wasn’t clear whether the brothers held the property as joint tenants or as tenants-in-common.
Posted on 22nd October 2021
While most people in the UK believe their affairs are simple, their requirements are often quite complicated when it comes to their Will.
According to recently published research online Will writing services often fail to consider things that can significantly affect the details of your Will such as marital status, children, assets, business and property ownership, overseas property investments and disinheritance.
Posted on 8th October 2021
Social media and email accounts, cryptocurrencies, and photographs stored in the cloud are all digital assets.
Although they are an important part of our lives, we probably haven’t given much thought to what will happen to them if we die or are unable to make decisions about them.
Joint research by the Society of Trust and Estate Practitioners (STEP) and the Microsoft-funded Cloud Legal Project at Queen Mary University of London has looked at the practical issues surrounding digital assets for estate planning.
Posted on 7th September 2021
Posted on 23rd August 2021
Changes to the online probate service, MyHMCTS, for solicitors and other legal professionals came into effect on 19 August 2021. These changes could simplify and streamline the probate process for executors and administrators.
Posted on 26th July 2021
The Ministry of Justice (MoJ) has launched a consultation on its proposals to increase probate fees.
The new single fee of £273 will apply to professional and non-professional applicants, regardless of the size of the estate. The MoJ says the new fee reflects the cost of providing the service and is not intended to make a profit.
Currently the fees to apply for a grant of probate for an estate valued over £5,000 are £155 for professionals and £215 for individuals. Estates worth less than £5,000 don’t pay a fee.
Posted on 30th June 2021
It seems that we are reluctant to talk about our finances, even with our family and closest friends.
A recent YouGov survey showed that people rarely discuss financial matters, even important information that their executors need to know if they die.
Posted on 8th June 2021
Why leave gifts to charity?
Many people are leaving tax-free gifts to charities in their Wills to reduce the amount of inheritance tax (IHT) to be paid on their estate when they die.
Gifts to charitable causes are tax-free, and if you donate 10% of your estate to charity, the amount of inheritance tax due will be reduced from 40% to 36%, above the £325,000 tax-free threshold.