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Top FAQs from clients when making a will

Making a will is often overlooked and its importance underestimated. Regardless of the size of your estate you leave behind, a will can operate to dispose of it in accordance with your wishes. Below are a few of the most frequently asked questions from clients, answered by us, to hopefully shed some light on this often unspoken subject. I'm married with children - what happens to my estate if I don't make a will? If you have assets of less than £250,000, and die intestate (without making a will), then…

Unregulated will writers lost me half my home

The daughter of a deceased man is seeking hundreds of thousands of pounds in compensation from the unregulated will-writing branch of a well known high street bank, claiming that the poorly drafted will has cost her a valuable stake in her father's London home. The deceased used the bank's low costing, unregulated will-writing service to dispose of the various assets held within his estate. The deceased had instructed that, upon his death, his daughter (the Claimant) would receive half of his London home. The property was owned as joint tenants, by the deceased…

Powers and Duties of Executors and Trustees

Unless the powers of executors and trustees are extended or varied by the will, the powers are limited to those given by statute. The main statutory powers are set out here under: Section 3 of the Trustee Act 2000 (the Act) gives a general power to invest in anything other than land. Section 4(1) provides that when exercising any power of investment trustees must take into account the statutory investment criteria which are: The suitability to the trust of investments of the type proposed and of that particular investment as…

Lasting Powers of Attorney and why you need one

With an ageing population in England and Wales, mental capacity is increasingly becoming an issue for a wide range of families. Mental capacity is a legal concept which defines a person's ability to make a specific decision or to do a particular act. If a person loses capacity, safeguards need to be put in place to cater for the eventuality. What are the safeguards? Preparing Lasting Powers of Attorney The answer is: preparing Lasting Powers of Attorney, whilst one still has capacity, in anticipation of the possibility that at some…

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