Wills and Lasting Powers of attorney – Is now a good time?

Coronavirus has caused a lot of chaos and it has been a very turbulent time for us all. What is evidently clear is that everyone is in the same situation and it is entirely natural to feel concerned about the impact on your family and your finances during this time. You can take control of the situation and your future in your own hands by drawing up a Will and making Lasting Powers of Attorney, to ensure that you have peace of mind and have secured the future of your…

Can I still create or amend a Will during lockdown?

Creating a new Will, or amending an existing Will is one of the hot topics during the Covid-19 lockdown, and it is very important that everyone makes the decision to ensure that their Will is up to date. But how do you create a new Will, or amend an existing Will during lockdown? The requirements for creating and amending Wills are contained in legislation that dates back nearly 200 years, to the Wills Act 1837. This Act requires that in order for a Will to be valid it must be…

Law society report 30% increase in demand for Wills

NHS workers fighting Covid-19 on the front line, together with the elderly and vulnerable, lie behind a huge spike in demand for will writing over recent weeks, according to the professional body for solicitors.  The Law Society says many firms have reported a 30% increase, as a result of worries about the coronavirus pandemic, but the lockdown and self-isolation are creating new challenges in getting the wills drafted and signed while still complying with legal requirements.  There has been a surge in people looking to set up powers of attorney…

Safeguarding is vital when appointing others to act

Financial abuse of vulnerable people by those acting on their behalf is on the rise, with investigations into the actions of appointed attorneys soaring to a record high. With the continuing rise in dementia and a population that is living longer, these figures show how important it is that people understand how to act under a power of attorney, and the need for safeguarding and professional input to the process.  A Power of Attorney is a document by which someone - known as the donor - gives another person –…

Statutory legacy for partners raised to £270,000

The government has kept its promise to update intestacy rules every five years – albeit three months after its deadline passed. The change increases the statutory legacy for partners of people who die intestate from £250,000 to £270,000. The statutory legacy was last changed in October 2014 when it was set at £250,000 under provisions in the Inheritance and Trustees’ Powers Act 2014. The figure is meant to be updated every five years. A statutory instrument setting out the increase – which is in line with the consumer price index…

Wills and Probate: Giving to charity

It seems that people in the UK are a charitable bunch. In fact, last year, just under £3 billion was donated to charity in Wills, which is expected to rise to £3.4 billion by 2022. This figure means that 3.5% of all of the money left in estates is now comprised of charitable giving. What sort of charities benefit? There is certainly no shortage of choice when it comes to picking a charity, but there are four industries that receive more than the rest. The lion’s share (38%) goes to…

A simple business hack when preparing for the unexpected

Business continuity planning may range across various disaster scenarios - from cyber-attack to fire or flood - but can overlook the obvious, which is how the business will cope if the owner isn’t available to manage financial matters and decision making. A simple solution is for the business owner to make a Lasting Power of Attorney (LPA) and appoint someone to look after their financial affairs and act on their behalf, and shareholders, partners and sole traders can all benefit from appointing an attorney in this way. An LPA can…

Where can you be buried or scattered after your death?

Our final journey is one we all make alone, but it’s up to every individual to make sure those left behind are fully aware of the last wishes of the deceased. That includes how to deal with the body, whether that means cremation or burial. For years, bodies have been interred in designated graveyards, or cremated at the local municipal crematorium. The details are usually handled by the funeral home. Funerals are very expensive, with recent estimates putting the average price at around £4,000. This amount does vary, though, depending…

Soaring fees set deadline for executors and estate planning

Controversial court fees which have been branded a stealth tax on bereaved families are expected to prompt a surge in probate applications before the hike hits. The new banded fee structure will see the cost of probate soar by thousands of pounds for higher value estates. The current flat fee is £215 for a personal application for probate, or £155 when handled through a solicitor, but this is to be replaced by a tiered set of fees. While the fees have been reined in from the original proposal last year,…

Disinheritance – a quick guide to cutting someone out of your Will

The message is slowly starting to get through to the public – making a will is an important life decision that could save your relatives a great deal of heartache once you’ve gone. You can express your wishes, designate who gets what, and that’s the end of it. Or is it? Legal research has reported that the number of disputed wills has shot up in the last couple of years, from 116 in 2015 to 158 in 2016. That may not seem like a high number, but it represents nearly…

Powered by How to backup and restore wordpress site

error: Content is protected !!