Time frame:Once you are aware a death has occurred, it should be registered within 5 days. It is important to be aware that a fine or criminal charge may result if the death is not reported within this time frame. There are certain valid delays, such as if an inquest is required to take place.
Background: An Enduring Power of Attorney (“EPA”) is a legal document that appoints Attorney(s) to act on behalf of another person, referred to as the Donor. Under an EPA, the Attorney(s) can manage the property and financial affairs of the Donor. It is important to note that you can no longer create EPAs, and since
Entering a caveat to a probate application is essentially challenging a probate application. There may be many reasons for doing this such as you feel the person acting as personal representative has no right to act or you believe that the Will submitted with the application is invalid. When entered, a caveat lasts for six
Did you know that HMRC collected £7 billion in Inheritance tax just in this last tax year alone? Inheritance tax is a tax on the estate of someone who is deceased, including all of their property, possessions, and money. It is usually charged at 40% on anything above your nil rate band and it can
While many people consider gifting their family home to children or other relatives during their lifetime, it is important to understand that gifting the family home whilst you are still living there may have significant risks and consequences that should be considered, and legal advice should be sought before taking any action. Here are some
The Government has recently announced an increase to the Statutory Legacy, up to £322,000 from the previous £270,000 which took affect on the 26th July 2023. What is the Statutory Legacy? If you die without a Will, you are deemed to have died intestate, and your estate will be distributed in accordance with the intestacy
A beneficiary is the person who will benefit under your Will, and who will inherit your estate after you die. It can be anyone from your spouse, children, friends or even charities. You can leave different types of gifts to beneficiaries, whether monetary gifts, gifts of specific items, or a portion of your estate once
Every individual is entitled to pass up to £325,000 inheritance tax free. This amount is known as the nil rate band. Prior to 2007 nil rate bands were not capable of being transferred between spouses. Gifts to spouses were and remain exempt from inheritance tax. This meant that often spouses were advised to incorporate a
Using a trust in a Will to pass on inheritance will mean that the intended beneficiary does not have full control of the capital or the income from the asset. It would be controlled by the Trustees. A Trustee is duty-bound to follow the terms of the trust and therefore they should be someone you
Trusts in the UK began when medieval monks wished to enjoy the benefit of land without infringing their vow of poverty by actually being owners of the land and when medieval landowners went abroad on religious crusades and pilgrimages, leaving behind their families and their lands. Since then trusts were always about holding the property
If you have been appointed as an attorney for an individual through a Lasting Power of Attorney (“LPA”), you have the authority to make decisions on their behalf. Dependant on the specific provisions contained within the LPA, you can make decisions on behalf of the Donor if they have lost capacity (i.e. if they are
The duties and powers of an attorney are set out in the Mental Capacity Act 2005 and the Mental Capacity Act Code of Practice. An attorney has the legal duty to act in the donor’s best interest and can only make decisions that they have been given the authority to make. If a Lasting Power
A Lasting Power of Attorney is a document that allows you, as the Donor, to appoint persons you trust to be your attorneys and act on your behalf when you no longer want to or able to do it. This document can save your family from going through a slow and expensive process because if
A Deputyship application usually is required if an individual no longer has the capacity to make a Lasting Power of Attorney. Lasting Power of Attorney There are two forms of LPAs. The first being property and financial affairs which gives your attorney the right to, for example, pay your bills for you (the Donor), and
A lasting power of attorney document allows a specific individual, called an attorney, to make chosen decisions on your behalf. Why would I need an LPA for my business? You may think that there are certain individuals who would naturally step in for you should you be unable to manage your own business affairs. However,
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