This act aims to give UK authorities the power to seek out any persons seeking to abuse the UK’s economy. Companies House will have better means of verifying the identities of company directors, the power to alter or remove any information that they believe to be fraudulent in some cases, and the power to share
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
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
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 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,
Thinking about writing a Will but unsure which type of Will is best suited to you? As you may or may not be aware a Will is a legal document which ensures that after you die, your possessions and assets pass to those whom you have chosen. This can be written at any time throughout
When you are administering the estate of a deceased person, you may ask yourself what a Grant of Representation is, and if you really need one. A Grant of Representation is a legal document which gives certain people the legal right to realise assets in the estate and begin the estate administration process. What are
Estates that give 10% of their net value to charity may qualify for a reduction in the rate at which the estate is charged to Inheritance Tax (IHT). Normally, after any exemptions are taken into account, an estate is taxed at 40%. Section 142 of the Inheritance Tax Act 1984 allows for post death variations
If you are an Executor of an estate, you may find that you are asked whether you would like to place a Section 27 notice. It is often recommended that an Executor places two notices and a Solicitor can do this for you. Section 27 of the Trustee Act 1925 requires any persons owed money
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