A Lasting Power of Attorney authorises a trusted friend or relative to make decisions on someone’s behalf, should they lose the capacity to do this themselves. If an individual is diagnosed with dementia, it is highly recommended that they sign a Lasting Power of Attorney if they are able to do so. A Lasting Power of Attorney (LPA) means that…

A study carried out by the think tank Resolution Foundation has found that only 32% of those looked at have benefited or expect to benefit from an inheritance or gift in their lifetime. The report, commissioned by the Family Building Society, notes that the value of inheritances is likely to double over the coming twenty years, due in part to…

With the new, simpler ‘no-fault’ divorce law now in effect, experts are warning of an increased risk of financial difficulties in retirement Insurer and pension provider Aviva has carried out research which suggests that as couples take advantage of an easier route to divorce, they may not take the time to properly value pensions and deal fairly with pension sharing.…

For those dealing with someone’s estate after their death, the Inheritance Tax bill can come as a nasty shock. It needs to be paid before a Grant of Probate or Letters of Administration are applied for, which can sometimes create difficulties. The current Inheritance Tax threshold is £325,000, meaning that where more than this sum is left in an estate,…

Research done on behalf of Solicitors for the Elderly (SFE) has found that almost half of UK adults who have a Will have not updated it for more than five years.SFE is a national association of independent lawyers who specialise in legal matters for the elderly and vulnerable. They understand the difficulties that can arise when people do not leave…

If you are dealing with the estate of someone who has died, you need to check whether any of the beneficiaries have been declared bankrupt. If you mistakenly distribute part of the estate to a bankrupt beneficiary, the trustee in bankruptcy could bring a claim against you to recover any money that they were not able to retrieve from the…

The Will of a wealthy property investor has been overturned by the High Court on the basis that he did not know and approve of the contents. Property tycoon Kevin Reeves, raised as an orphan in a convent, built up an empire valued at £100 million pounds. In 2012, he made a Will leaving his fortune to his descendants, with…

After a death, the estate’s executor or administrator has the job of winding up the deceased’s affairs. We take a look at what happens if they fail to carry out their role. The task of administering an estate can be time-consuming and is often complex. Where an executor or administrator is not coping with the job or is simply not…

Global investment company abrdn have conducted a survey that found that almost four out of five people taking retirement are not seeking professional advice in respect of their financial plans.  The survey questioned 2,000 retirees in the UK, finding that 78% have not taken any professional advice from finance experts as to how to manage their retirement. Nearly half (48%)…

A Lasting Power of Attorney or LPA is a document that gives legal authority to someone to deal with your affairs on your behalf, should you ever be unable to do this yourself. It is recommended that everyone consider putting one in place so that, should anything happen, your loved ones have the reassurance of being able to look after…