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Wills & Probate News
The process of administering a person’s estate after death can be complex, but where an estate is insolvent the process can be further complicated. If an estate is insolvent it means that its liabilities exceed the value of its assets. Knowing the procedures and what could be involved is important; particularly because of the personal...
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Under current legislation should someone pass away without making a Will then they are known to have died intestate. This means their assets will be distributed as per the Intestacy Rules. Currently, the rules state that the spouse of the deceased shall inherit the first £250,000 and for the remainder of the estate to be...
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One of an Executor’s important roles is to ensure estate property is protected during the administration process before it is distributed to the beneficiaries. If there is a property in the estate and there is a question over whether insurance is needed, in short the answer is yes it is, it is very important unoccupied...
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The Inheritance (Provision for Family and Dependants) Act 1975 allows certain family members and dependants of a deceased person to bring a claim for further financial provision where the Will of the deceased (or the rules of intestacy where no Will exists) fails to do so. Those that can apply under the Act include the...
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Anybody in the probate industry, or anybody that has lodged a personal application for probate this year, will be aware that there were significant backlogs to the service from the Probate Registries due to dramatic changes and updates and the threat of fee increases. Previously, delays in the issue of a Grant could have been...
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Lasting Powers of Attorneys (LPA) – which is which? There are two types of LPA’s but what are the differences? Property and Affairs LPAs for decisions about finances, for example in relation to bank accounts, utility companies and property. This LPA can be used by your attorneys as soon as the document is registered, regardless...
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At the present time, should a person make a gift from their estate, they must survive the gift by 7 years for it to be exempt from Inheritance Tax. However, there has been an official review ordered by the Chancellor and as part of a radical shake up the 7 year rule could be cut...
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There has been wide coverage in the media of the potential increase to Probate fees. However, as we stand today this has not been implemented and there has been no fixed date for this.  Under the proposed plans, which have been opposed by many such as the Law Society, Probate fees would be linked to...
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The legal term for this is dying “intestate” because your estate (the assets that you own when you die) will be distributed in accordance with the laws of Intestacy. Intestacy may not be ideal for various reasons: 1.       Unmarried couples are not treated the same as a legal spouse 2.       Children will receive their inheritance...
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Direct Line Insurance has published research indicating a 6% increase in wills that were challenged in 2018. The Probate Registry has also revealed that applications to take out Probate were blocked on 8,159 times in the same period. From the research undertaken by Direct Line the indication is that 12.6 million people would be willing...
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