Why Wills are important for parents If you have children, it is always recommended that you have an up-to-date, valid Will in place. We take a look at some of the main reasons why Wills are important for parents. The main reason for making a Will is to ensure you pass on your wealth to your choice of beneficiary. However,…
How long does it take to administer a Will? If you are dealing with the estate of someone who has died, you may be wondering how long it will take to wind up their affairs. Many people ask ‘How long does it take to administer a Will?’ so we take a look at the process and how long each stage…
Can you leave a conditional gift in a Will? When you make your Will, you might be tempted to make certain gifts conditional on the beneficiary doing or not doing something. We take a look at whether you can leave a conditional gift in a will. It is open to you to leave your assets to whomever you wish when…
IHT threshold frozen until 2028 The chancellor’s autumn statement confirmed that the current IHT threshold will be frozen until at least April 2028. This follows a previous announcement freezing it until April 2026. The two-year extension to the lower limit means more families will be required to pay Inheritance Tax. As more estates are likely to exceed the nil rate…
Self-dealing in estate administration We take a look at the rule against self-dealing in estate administration. Executors who are dealing with the administration of an estate after someone’s death need to be careful not to breach the rules designed to protect beneficiaries. This includes not buying assets from the estate. Known as self-dealing, buying assets from an estate if you…
Dealing with modern day digital assets post death People are increasingly leaving a digital legacy after their death, as well as digital assets. We take a look at dealing with digital assets after someone passes away. Dealing with someone’s online presence and digital matters after they have gone can be daunting. It is often difficult to identify exactly what they…
What are the Personal risks in being an executor? The executor to an estate has the job of winding up someone’s affairs after their death. The role involves both responsibility and personal financial risk. We look at the personal risks in being an executor to someone’s Will. When someone passes away, their executors (named in their Will) role is to…
Increased Risk of pension poverty in retirement The new, simpler ‘no-fault’ divorce law now is now in effect. Experts warn of an increased risk of financial difficulties in retirement and the risk of pensions poverty. Insurer and pension provider Aviva has carried out research. Their findings suggest that as couples take advantage of an easier route to divorce, they may…
£100 million Will of wealthy property investor fails The £100 million Will of a wealthy property investor was overturned by the High Court on the basis that he did not know and approve of the contents. We look at why the £100 million Will fails. Property tycoon Kevin Reeves, built up an empire valued at £100 million pounds. In 2012,…
Retirees fail to seek professional advice Global investment company abrdn have conducted a survey that found that almost four out of five retirees fail to seek professional advice in respect of their financial plans. The survey questioned 2,000 retirees in the UK. It found that 78% of retirees fail to seek professional advice from financial experts as to how to…
