A recent report has found that only half of parents plan to share their estate equally between their children. The report, carried out on behalf of Netwealth and The Money Whisperer®, found that there was a lack of understanding on the part of both parents and young adults in respect of finances and what might be inherited when the time…

If you believe that a loved one’s Will is not valid for some reason, you may be entitled to raise a legal challenge. Grounds for challenging the validity of a Will There are a number of reasons why a Will might not be valid, as follows: It was not properly executed The person making the Will did not have adequate…

After someone dies, part of winding up their estate involves settling all of their debts. As well as paying bills, there are expenses relating to their death, including funeral costs. When someone has died, their estate is liable for paying their outstanding debts. The estate executor or administrator is the person responsible for making sure that this is done. What…

If you have been appointed as someone’s attorney under a Lasting Power of Attorney you will have the authority to make certain decisions on their behalf. There are two types of Lasting Power of Attorney – one in respect of property and financial affairs and one in respect of health and welfare.  When someone loses the ability to manage their…

A study has shown that sibling rivalry lasts into adulthood, with arguments continuing down the years over sensitive issues. A poll commissioned by NOW found that a quarter of adults still argue with their siblings. Some 26% compete with a brother or sister over their career while 22% bicker about home ownership. Over 20% argue about who is the favourite…

An estimated two-thirds of Brits have not made a Will to pass on their wealth. Without a Will, there is a risk that your estate will not go to those you want to receive it. This means that disputes could arise between family members and others who may consider that they should receive a share of your assets. It also…

If you or your spouse or partner need to move into care, the expense could use up a large part of your estate. While it is not lawful to deliberately deprive the local authority of funds, there are legitimate ways to protect your wealth so that it can be passed on to your beneficiaries when the time comes. The cost…

The role of executor to the estate of someone who has died comes with a number of responsibilities. An executor has the task of administering the deceased’s affairs, to include paying debts, selling assets and preparing estate accounts. The role is onerous. It can be time-consuming and sometimes complex, depending on the estate in question. Being an executor also requires…

If someone dies without leaving a Will, they are said to be intestate. If they leave a Will but it does not deal with the whole of their estate, they are partially intestate. When someone dies intestate, their estate is distributed in accordance with the Rules of Intestacy (the Rules). The Rules set out in order of preference who is…

A Lasting Power of Attorney is an important document giving someone the authority to deal with your affairs, should you ever become unable to do so yourself. There are two types of Lasting Power of Attorney (LPA), one that deals with property and financial affairs and one that deals with health and welfare. If you make a property and financial…