Wills, Probate & Trusts LAW GUIDES

10 Reasons Why You Should Make a Will

Wills might not be the most popular or casual topic, but that is no reason to neglect their importance and postpone making them. Unlike other legal documents that might not even be necessary during one's lifetime, wills are something that every person...

Guide to Inheritance Tax

Inheritance tax (IHT) is a tax on the possessions or money a person leaves behind when he or she dies. While a certain amount can be passed on tax-free, also known as the nil rate band or the tax free allowance, anything that goes over the £325,000...

Lasting Power of Attorney

The unfortunate possibility of not being able to manage your own finances and affairs is a consideration that ought to be made by all. Although the thought of not being able to maintain independent self-management is an unpleasant one, addressing the...

Making a Dependency Claim in an Inheritance Dispute

If you received financial support from a person who has died and there were no provisions made for you in their will, you may be able to make a dependency claim for regular payments or a lump sum. This can naturally be an emotive area of law, and some...

The Options for Making a Will

In order to specify how your estate should be distributed upon your death, it is vital that you make a will. A valid will is a legal document that sets out how your young children will be cared for, who should benefit from which assets and who will be...

Reducing Inheritance Tax Liability with Gifts

At present, if a person's estate is valued in excess of £325,000, they will be obliged to pay inheritance tax on any amount above this value. The current rate of inheritance tax is 40% and this is paid on any sum above the inheritance tax threshold....

Choosing an Executor for Your Will

The nominated person that has the responsibility of managing your property and estate when you die is referred to as your ‘executor'. The executor will follow instructions that are set by you to determine how and when your estate is divided upon...

Probate Offices - Find Your Local Probate Registry

Probate offices, or probate registries as they are officially known, are branches of the high court that help to ensure the administration of a deceased person's estate is carried out in accordance with the law. The Principle Probate Registry is located...

Things to Consider Before Making a Will

Making a will can be a complex and daunting undertaking and many people feel overwhelmed by the considerations and inclusions that are required. In the majority of circumstances, individuals who intend to write a will can benefit from professional advice,...

How to Value an Estate for Probate

An executor or personal representative of a will is required to arrange valuations of the deceased person's estate. The valuation of an estate is needed for an application for probate to be made. The valuation will also be required for capital gains...

Trust Wills Explained

Trust Wills are legal ways to further increase the protection of assets that are left to others in a testator's will. A Trust is a legal structure which can be included as part of your will and can offer increased asset protection for your loved ones....

Disputing or Contesting a Will

Wills are made in order for a person to communicate their wishes for the distribution and management of their estate and the care of any young children in the event of their death. In some instances, the contents of a will may seem outdated, irrelevant...

Explaining the Different Types of Trusts

When it comes to trusts, there are several different types to choose from. Your individual needs and circumstances will determine which is the most suitable type of trust for you. The following guide gives a brief description of each type and when they...

Trustees' Duties and Responsibilities Explained

Arranging a trust is an important activity that includes thorough planning and careful execution. Before appointing individuals in specific roles such as Trustees, it is imperative to have a detailed understanding of what the role entails so as to ensure...

Storing a Will - What are the Options?

Writing a will is likely to be one of the most important considerations made during a person's life, but if that legally binding document cannot be located following their death, it is effectively useless. In order for the will to be effective, the executor...

How long does probate take?

When it comes to probate there are many variables, so how long probate takes to complete will vary considerably from case to case. The vast majority of beneficiaries of Estates in England and Wales should receive the inheritance left to them within approximately...

What is a Deed of Variation?

A Deed of Variation is a legal document that allows a beneficiary to pass on their entitlement to the contents of a person's will to somebody else. This means that the initial beneficiary is able to redirect their gift or legacy to another party without...

Revoking a Will

A will is a legal document that communicates your wishes for how you would like your estate to be divided, distributed and managed after your death, as well as establishing the care of any children that you have should you die before they become adults....

Dying Without a Will – The Rules of Intestacy

Anyone who dies without leaving a will, allows the law to dictate how their estate is divided. A person who dies without leaving a will is referred to as an intestate person. This may result in property or possessions being inherited by those that would...

Beginners Guide to Probate

Probate is the term used that refers to the process of managing the assets, money and final wishes of a person following their death. In effect, probate serves to validate the contents of a will through gaining the authority to deal with the deceased's...

A Beginner's Guide to Trusts

A trust is a legal document between a settlor and trustees, where the trustees hold assets that previously belonged to the settlor. The trustees then use these assets to benefit one or multiple beneficiaries. In more simple terms, a trust allows a settlor...

Being an Executor or Administrator of a Will

A will is made to ensure that the testator (the writer of the will) can detail how and where their assets should be distributed in the event of their death. The executor of the will has the duty of carrying out the instructions of the will. If no executor...