When someone passes away it is the responsibility of the executor(s) of their will to manage their estate according to their wishes. This will mean that they will have to collect and administer their estate before passing it on to their beneficiaries. What happens though when that estate, and the wishes set out in the…
Giving to charity is something that we do a lot in Britain. According to the Charities Aid Foundation (CAF), in 2017 the amount donated to charity came to £10.3 billion. It’s fair to say that as a nation we support a number of charities, whether directly or through sponsorship, and enjoy giving to those causes…
When preparing a will it is easy to think that you have identified all your assets. Most of us think about our physical assets when we do this: property, valuables, stocks and shares, pension pots, cash, etc. However, with the increasing reliance on digital systems we often forget about those additional assets which can be…
A will is one of the most important legal documents you can have. It is an essential way of ensuring any savings and assets get distributed to family and friends according to your wishes. But with nearly two thirds of adults in the UK without a will, are DIY kits a solution? And do they…
Wills need not be complex, nor do they need to be long, drawn-out affairs. Many people put off preparing one in the mistaken belief that it is expensive or complicated, leaving their loved ones with a much more complex process of probate once they do pass. The most common mistake in estate planning is not…
Inheritance can be a tricky thing to set up and manage. As well as navigating all the pitfalls of the law, what you can and cannot do, and what your tax bill may be at the end of it all, there is also the matter of considering managing family expectations or working around problems within…
Ever thought about what happens to your pension after you pass away? No, we thought not. You’re not alone though as most people are focused on assets such as a home, business, or valuables when preparing their will, in the belief that a pension will automatically pass on to a nominated beneficiary. It isn’t always…
It’s a big thing to be asked to be the executor of someone’s will. It means that they trust you and value your judgement, as well as consider you a close friend and, importantly, someone who can be impartial should it be necessary. We have talked before about what makes a good will executor –…
With more and more people marrying for a second, or even a third time, the issue of inheritance becomes even more important to settle sooner rather than later. It matters not whether a second marriage is the result of a divorce or the death of one partner, but it is a concern for many when…
There comes a time in our life when we should write our will. It may not be something we want to think about, but it is something that needs to be done, particularly if there are children or other dependents involved as you will want to make sure they are looked after in the event…