A trust is a financial arrangement, drawn up to hold property, funds or other assets for another party or parties. These parties are the beneficiaries, or owners of the contents of the trust but are not in a position, or do not wish to, own them outright. For example, they may not be of adult… Continue reading What Happens During a Trust Dispute in England and Wales?
Nobody likes to think about their death, but, along with the dreaded taxes, coming to the end of life is an inevitability that we must all face one day. One way to ease the burden for loved ones left behind is to make plans now for end-of-life arrangements, including wishes around medical care, funeral arrangements… Continue reading Estate planning: probate, Wills and end-of-life arrangements
When someone dies, there are normally a lot of decisions to be made and actions to be taken around the things they leave behind. Bank accounts, savings, property, possessions etc. all make up the deceased person’s estate and must be allocated to new owners. This is overseen by an executor, which can be an individual… Continue reading What is a grant of probate and how do you apply for one?
What is trust? A trust is a legal arrangement where one person owns an asset but holds it for the benefit of another person. The legal owner of the asset is called the trustee. The person who places the assets into the trust is called the settlor. The person who has the use or benefit… Continue reading What is a Trust and What Are The Main Types of Trust?
The inheritance tax threshold is £325,000 (the nil rate band). This means that, if the total taxable value of the deceased’s estate is less than £325,000, the estate does not have to pay inheritance tax. The tax threshold can increase by £175,000 (the residence nil rate band) if the deceased’s home is inherited by the… Continue reading The Inheritance Tax Threshold (The Nil Rate Bands)
Death duties are a form of taxes in England and Wales that can be charged on the estate of someone after they have died if its value is over a certain threshold. It is the responsibility of the executor of the person’s Will, or the appointed manager of their estate if no Will has been… Continue reading What are death duties and what needs to happen?
It is always a very difficult time when someone you love dies. When their passing is accompanied by disputes over the contents of a Will, the situation can become a lot harder to handle. Feelings can run high if a family member or close friend considers the distribution of the person’s estate to be unfair,… Continue reading What happens when you have an inheritance dispute and how to avoid it?
It is estimated that just over half of the UK’s adult population have not yet made a Will. This could be due to lack of time, reluctance to think about the end of life or a mistaken belief that their inheritance will automatically pass to specific loved ones. Sadly, however, people who die intestate, i.e. without… Continue reading What Is a Letter of Administration and When Do You Need One?
Spousal maintenance is a payment made by a husband, wife or civil partner to their former spouse or partner following a divorce. It is usually paid every month, either for a set period or for the rest of the parties’ lives. It intends to cover living costs for the lower-income party if they cannot become self-sufficient… Continue reading What is Spousal Maintenance?
It can be a difficult and emotional time when you separate from your partner and have children. Amongst all the emotions and upset, it is of the utmost importance that the futures of all children from the union are firmly agreed upon and provided for. The term ‘child custody rights’ is used to cover the… Continue reading Your helpful guide to child custody rights in the UK