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15 03, 2019

Who will get your pension benefits?

Over half of the population could be naively handing their inheritance to the wrong person. 54% of the population are unaware that their pension policy will be passed down to the person named on the policy, even if an updated will says otherwise. The study of more than 2,000 UK adults, completed by the Pheonix [...]

11 03, 2019

Do YOU have a will yet?

Rise of Will making in 2019? The Kings Court Trust announced in their second annual report in 2018 that under half (45%) of the adult population in Great Britain have a Will. This figure has increased by 6% compared to last year when the proportion was 39%. This is encouraging as it shows that the [...]

7 03, 2019

What is Estate Administration

Estate administration is the process of dealing with a person’s legal, financial and personal tax affairs after they have died. It involves far more than obtaining a Grant of Probate (Confirmation in Scotland) which is just one element of the process. It means dealing with all their assets, such as property, shares and personal possessions; [...]

9 01, 2019

Everyone has a WILL but is it the right one for you?

According to research by Royal London, more than 5 million people in the UK are confused by Wills and are not sure where to begin. Six in ten parents either do not have a Will or it is out of date. Whilst 34% of UK adults said an illness would prompt them to create a [...]

19 10, 2018

BEWARE ON-LINE WILL KITS.

A recent report confirmed that following a complaint to the Advertising Standards Agency (ASA) a DIY Probate Pack’s Permanent Sale should be cancelled. In a time of austerity, with more people looking for ways to save money, after life planning resources like DIY Wills and DIY probate services have been on the increase. One online [...]

5 10, 2018

More legal challenges to Estate Planning, Wills, Pensions and Trusts.

Theresa May has announced that heterosexual couples in England and Wales can now legally enter into a civil partnership rather than marriage. For many, the institution of marriage represents gender inequality. For years the idea of dowries involved in marriage portrayed women as property being handed from father to husband. The thought of entering an [...]

24 08, 2018

The debate continues – to by-pass or not to by-pass?

Bypass trusts - following the changes to regulations in recent years, are they still providing value and benefits for estate planning. Given this flexibility to pay pension scheme death benefits through the generations, the question arises to whether there is still a need for the member to set up a pilot discretionary trust during their [...]

9 08, 2018

What happens to the house when someone dies?

One question that we frequently get asked is “What happens to a property when someone dies?” and it’s important that you understand the answer if you are administering a deceased person’s estate. This informative blog post looks at who is responsible for the property when an owner dies, what happens to the property and what [...]

15 03, 2018

KEEPING FAMILY WEALTH IN THE FAMILY

Total inter-generational wealth between family members from 2012 to 2014 increased from £49bn to £59bn. As wealth has increased, property prices have risen and net financial household wealth has increased by 172% between 1995 and 2015 from £1.6 trillion to £4.3 trillion (source: ONS). With this increase in asset value, estate planning is becoming more [...]

28 02, 2018

Deed of Family Arrangement

The difficulty faced by many is that Wills are only revisited from time to time, meaning that they can prove to be less tax efficient than anticipated when drafted. Family circumstances may also have changed, such that the Will is not as relevant as it may once have been. Deeds of Variation can be entered [...]

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