When people are diagnosed with dementia, they often look to put their affairs in order and one of the things that is high on the list is making a Will. Just because someone has dementia doesn’t mean that they can’t make a Will. What matters is if the person concerned can understand what is happening and make their own decisions about the process. Do they have testamentary capacity? One of the key requirements of a valid Will is that the person making it...
If you have a favourite charity and you’d like to leave a bequest to them in your Will then the good news is that not only can you leave money to your chosen cause but it may even reduce your inheritance tax bill. Leaving money to a charity is simple and whether it is a small gift or a large bequest it can make a big difference to people’s lives in the future. How to leave a bequest to a charity For...
Estate planning is simply the process of putting in place measures to make sure that your assets go to the people you want them to after your death and to ensure that the people and organisations you care about are provided for and your assets are given to the people you want to benefit. You can also include methods of reducing inheritance taxes payable on death too with sensible use of one or two techniques. And for parents, practical estate planning...
Are children entitled to inherit from their parent’s estate? Modern families are often complicated things and one recent case to come before the court illustrates this perfectly and indeed shows why it is important to make a Will and keep it up to date. In the case of Ubbi V Ubbi, a claim was brought on behalf of two children against a gentleman’s estate where he had made a Will but not updated it in recent years and it is fair...
How long after probate does it take to receive an inheritance? For beneficiaries of small, simple estate probate can take as little as 3 months and then it is simply a matter of the executor or administrator handing over the inheritance. Unfortunately for many estates, things aren’t quite so simple. There are lots of duties for the executor to perform and some of these can take a considerable amount of time and often be out of their hands. Time to prepare your Will?...
