Property is in the news at the moment – not enough houses, prices escalating and the government schemes to help first time buyers get on the property ladder. This is before considering the loan or gift by mum and dad to help with the deposit. For...
Wills and tax
The bitter dispute between Lynda Bellingham’s two sons and their step-father Michael Pattermore is rumbling on. Ms Bellingham obviously trusted her husband to ‘do the right thing’, having left everything to him in her Will. Sadly, Mr...
Your business has fire insurance, maybe flood insurance and computer system insurance, and you may well have “key man” insurance in place in case of your death, but what would happen to your business should you, or a partner, become physically or...
There is no need to be nervous about seeing a Lawyer about a will. Wills & Tax Associate Heather Varley , has put together a small glossary of terms that may be mentioned to help: Administrator - personal representative of a...
When making a will, one of the most important decisions that needs to be made is who to appoint as executors. Being an executor involves a lot of responsibility and work so it is important to make sure that the people you ask are able and willing to take on...
The whole world now knows how Cilla Black left a huge inheritance in excess of £15million to her three sons. They are also due to inherit her £2million Spanish mansion and £1.5million Barbados penthouse which are in addition to her UK...
The current fee for an application to the Probate Registry for a grant of representation in all estates worth more than £5,000, when made via a solicitor, is £155, with an additional 50p charged for each office copy of the grant that is required....
Dentist, Norman Martin, failed to divorce his estranged wife despite having lived with his new partner, Joy Williams, in Dorchester of 18 years. On his death there was no provision for Joy, as Martin had failed to update his will to reflect his relationship...
ISA rules have recently been overhauled but a recent survey has shown that 77% of British adults have limited knowledge of them. Savvy investors know of the income tax and capital gains tax benefits of ISAs but what happens to those benefits upon death?...
Mental capacity means that a person is able to understand and retain information and make a choice based on that information. Unless it is proved otherwise every adult has the right to make his or her own decisions. Sadly people can lose their capacity to...
UK charities rely heavily on gifts left to them in someone’s will – this amounts to 13% of all charitable donations and can amount to £2billion a year. It shows why charities in the Dorset area, amongst others are becoming ever more...
Capital Gains Tax (CGT) is a tax on the increase in the value of an asset between the time it is acquired and the time it is disposed of. Only the gain is taxable, not the amount that you received for it – if you bought an asset, say an investment...
Around 38,000 families a year suffer the ordeal of prolonged probate from ineffective or poorly drafted wills. In a recent case which received national media attention Ms Aregbesola is seeking hundreds of thousands of pounds in compensation from Barclays,...
People aged fifty five and over are being bombarded with cold calls and emails offering bogus pension opportunities the Citizens Advice Bureau (CAB) has warned. After the Governments’ freedom of choice came into effect for the early draw down of...
The proposed changes in Inheritance Tax (IHT), being the introduction and the gradual increase in the so called “main residence nil rate band”, is due to begin to come into force from April 2017. Under current law if an individual’s estate...
If your last Will cannot be found after your death there is not much point in having written it in the first place. The signed Will is needed to obtain the grant of representation to enable your personal representatives to administer your estate after your...
Dementia has been brought into the headlines recently following the Oscar success of film ‘Still Alice’ and the sad passing of author Terry Pratchett. It is an illness that affects more than 800,000 Britons and the number of sufferers worldwide...
New measures were announced in the Chancellor’s Autumn Statement concerning the inheritance of Individual Savings Accounts (ISA’s). This could save married couples (or civil partners) thousands of pounds but it may be necessary to update your...
Seven months after the death of actor Robin Williams, his widow and children are in a legal battle to dispute his Will. There is a bitter disagreement over money and property between his widow, Susan Schneider Williams and his three children from his...
Mental capacity is broadly defined by the ability to make decisions in an informed way, in other words understanding what an LPA is and who you should appoint as your attorney. You might wrongly assume that your loved ones will sort things out if and when it...
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