Experts are warning against self-directed videos following the announcement by the Government that legislation is to be introduced in September to allow wills to be signed remotely using a live video link. While the coronavirus pandemic continues to pose a challenge for those wishing to have their wills drafted and signed, the announcement does not loosen any of the strict requirements, but instead adds extra complications. “Many people don’t realise the conditions that must be met if a will is to be valid,” explained Manal Fouad, wills and trusts lawyer…
Adjusting to the challenges caused by coronavirus has been difficult for all of us. However, for those dealing with the death of a loved one, the onerous obligations placed on executors may seem overwhelming. In recent years there has been an increase in the number of claims brought against executors by beneficiaries. Coupled with increased financial hardship as a result of the coronavirus pandemic, it is vital that executors understand their duties and obligations to avoid claims. In this article we set out what is required of executors, and how…
Mr G, a man in his mid-forties was married with three children. He had his own business which was extremely profitable, and enjoyed his pastime of playing golf and swimming. He would take flamboyant holidays about four times a year with the family, with at least two involving skiing in the French and Swiss Alps. When he came to see me to draw up his Will, we discussed preparing Lasting Powers of Attorney (LPA’s). “What are they”, he asked? I explained that a lasting power of attorney is a legal…
When thinking of making a will, the idea of a Victorian lawyer taking down the last instructions at the bedside still springs to mind for many people. And the 19th century lawyer would find things pretty much as they were if they time travelled to 2017, but a major change to how people can say what should happen after their death is likely to happen soon. If the proposals from the Law Commission get the go ahead, the law is likely to catch up with technology, and in future we…
From 6 April 2017, the Residential Nil Rate Band (RNRB) will be available for residences inherited by direct descendants (see below) in addition to the existing Nil-Rate Band (NRB) which is currently £325,000. From 2017/18 the RNRB will be phased in, at this point the sum which will be able to be claimed is £100,000, increasing by £25,000 each year until 2020/21 when it reaches £175,000. The current rate of NRB will be frozen at £325,000.00 during this period. As with the NRB, any unused RNRB can be transferred to…
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