April 11, 2019 | Posted by : J Morris
Proposed changes to the rules around probate in England and Wales were due to come into effect on the 1st of April 2019 but have been delayed due to opposition and Brexit matters taking priority. A Ministry of Justice spokesperson has said that the reforms will come into force ‘as soon as possible’, though the proposal has been deemed controversial by many, with Labour indicating it will object to the revised fee scheme, giving the House of Commons the chance to vote. Other opponents include the Liberal Democrats and two Lords committees, who dubbed the changes as a ‘stealth tax’. Following the suggested changes, probate fees would be charged on a sliding scale ...
March 05, 2019 | Posted by : J Morris
A shocking two-thirds of British adults do not have a Will, 40% of which are over the age of 55. We get it. No one wants to think about the worst case scenario, but there comes a time when you have to stop putting it off and start putting your affairs in order. End of life legal documentation is essential if you want to take care of your loved ones – and yourself – in the future:
If you die without a Will in place, your family may be left with financial or legal difficulties when it comes to inheritance, guardianship, the distribution of your assets, and paying inheritance tax.
If you fall ...
September 20, 2018 | Posted by : J Morris
When a family member dies, the prospect of dealing with wills and probate arrangements can be overwhelming during an already difficult time, particularly when it comes to taxes and inheritance. Your solicitor is there to help you through the process and manage the deceased’s estate, and we’ve put together a step by step guide to make each stage feel more approachable.
Who Handles Probate?
In most cases, you will need to get a ‘grant of representation’ (also known as probate). Your first port of call should be a solicitor, who will help you to find out who has been officially appointed to deal with the estate and finances. If ...
January 27, 2018 | Posted by : J Morris
One of the most important parts of making a will is appointing an executor who you trust to manage your affairs after you’re gone. This is a big decision and your first step should be to speak to an experienced solicitor about drawing up a will, making probate arrangements, and organising lasting powers of attorney (LPA).
To help you, here’s some advice on what an executor’s responsibilities are and how to choose the right person from the expert family law solicitors at Frances Lindsay & Co:
What does an executor do?
An executor is somebody you appoint to handle the arrangements and wishes you’ve set down in your ...
October 17, 2016 | Posted by : J Morris
A person’s estate comprises finances (money, investments and savings), businesses, property and possessions, all of which should be detailed in their will. A person’s liabilities will also need to be considered after their death, including any outstanding debts, such as a mortgage. In many cases, property is the main asset left in a person’s will, and often falls into both categories: as both an asset and a liability.
Assets (and liabilities) usually pass on to living relations and friends via a person’s will. If there is no will, the estate will be subject to intestacy rules (which is why it’s important to keep an up-to-date will, especially if you’ve had any ...