Currently browsing Estate Planning

What to put in your Will

24th October 2019

Writing a Will involves more than simply choosing who to give your money to. So what should you consider when drafting or updating one? Steve Wright, from our Estates team, considers what’s necessary. Executors Executors deal with the administration of your estate. They will need to collect and value... read more

Posted in: Estate Planning, Inheritance Tax, News, Tax

Dealing with disagreements between executors

21st June 2019

The administration of the estate of a loved one can be a difficult job. There are lots of decisions needed at what is always an overwhelming time. Consequently it is not uncommon for executors to sometimes clash or even fall out. Circumstances can arise which can leave some feeling... read more

Posted in: Estate Planning

Will planning – the use of Life Interest

18th June 2019

When making a Will, it is common to plan to leave property or assets – in their entirety – to your beneficiaries. However, it may be more prudent in certain circumstances to leave your spouse or partner a life interest in your assets rather than giving them outright ownership.... read more

Posted in: Estate Planning

The Cost of Residential Care

19th February 2019

The government has recently opted to leave charging thresholds for residential care as they are for the ninth consecutive year. Consequently, the lower and upper capital limits remain at £14,250 and £23,250 respectively. This means that whilst those with assets of less than £14,250 do not have to pay... read more

Posted in: Estate Planning

Drafting a Power of Attorney

5th February 2019

Giving someone the power to deal with your affairs can be a good idea, but if the document isn’t drafted carefully it can lead to expensive financial and administrative problems. A Lasting Power of Attorney (LPA) is the document which gives someone the authority to deal with your financial... read more

Posted in: Estate Planning

How to leave money to a charity

1st February 2019

Charities rely on legacies for much of their funding and many of us want to leave money to good causes that have helped us during our lifetimes. But which is the best way to leave money to your chosen charity? Many charities receive a high proportion of their income... read more

Posted in: Estate Planning

Probate Fees to Return

18th December 2018

Probate fees are set to be re-introduced in April 2019 after they were first proposed in 2017. This will see a considerable increase in probate application fees for higher-value estates. The breakdown below summarises the new charges for probate applications: Many view this introduction as a ‘back-door’ tax, which... read more

Posted in: Estate Planning

The cost of a funeral

3rd December 2018

The Competition and Markets Authority (CMA) has recently released a report detailing the inflation in price for funeral and crematoria services – an inflation that has been labelled ‘unjustified.’ Below is a summary of the key figures the CMA have identified, along with potential factors to look out for... read more

Posted in: Estate Planning