Beneficiaries And Inheritance

Who should be a legal guardian for your children?

Should you choose a legal guardian for your children? Guardianship is a really important aspect of making a Will and something that you shouldn’t enter into lightly.It is your way of ensuring that your children will be looked after by the people you nominate and who are happy to take on the responsibility.So, what exactly is a guardian and how do they differ from Godparents?  How do Guardians and Godparents differ? Godparents as part of the Christian faith have a specific responsibility...

What is a lasting power of attorney?

Lasting Power of Attorney – what is it and do you need one?Power of Attorney is one of those things that most people have heard of but unless they have had to deal with them are a bit of a mystery.In this post, we’ll run through what a lasting power of attorney actually is and some situations where they may be useful.It’s important to note that the law is different between Scotland and England and Wales. This post relates...

Inherited a car? What you should do next.

Inherited a car? What you should do next.One of the things that surprises people when someone passes on is the sheer amount of practicalities that have to be dealt with.One of the most common is what to do if you inherit a car.Hold on a moment…The executor will have to do a couple of things before you can take possession of a car.The first thing to confirm is that the vehicle is actually owned by the estate.The majority of...

What are the benefits of putting life insurance policy into a trust?

What are the benefits of putting life insurance policy into a trust?There are some significant benefits to putting a life insurance policy into a trust (called “written in trust”) and it’s important to consider whether this is an option for you.When you take out a life insurance policy you are naturally thinking of your loved ones and it is a fair bet that you would be hoping that the money would be quickly distributed and in full.However, a life...

What happens if a gift in my Will fails?

What happens if a gift in my Will fails?When we make a Will, we often think that our wishes will be carried out exactly as we expect but life is rarely straightforward and there can be circumstances where gift in a Will can fail.So, before you make your Will it is a good idea to think about the potential circumstances where your gifts could not work out the way you intended.No longer owning the giftThis is a pretty common...

The Tax benefits of giving to charity

The Tax benefits of giving to charityWhen people make a Will, they often think about leaving a bequest to their favourite charity but what you may not know is that there can be significant benefits to leaving money to charity in your Will.Leaving money to a UK charity in everyday life is, of course, tax-free and this exemption extends to any gift that is included in your WillHow inheritance tax is affected by charitable givingThere are two main ways...

The common mistakes people make when they don’t make a will.

Mistakes people make when they don’t make a will If you haven’t made a will then you may think that all of your money might just automatically go to your partner but nothing could be further from the truth. In fact, there are strict laws that set out how assets should be distributed upon someone’s death if they haven’t made a will. Passing on without a will or intestacy as it’s called in law is unfortunately quite common but it can cause...

Rules of intestacy

What happens if I die without a Will? Dying without a valid Will in place can mean that your estate passes to people whom you wouldn’t necessarily have chosen to leave it to. It can also have far-reaching effects on your family, their finances and the care of any children left behind. Rules of intestacy If you die without a Will then the rules of intestacy apply to everything you owned. These state that your spouse or civil partner, if you have...

Do you have workplace life cover?

Putting a valid Will in place while you are young can be of help and comfort to your loved ones should anything happen to you. Using our simple will writing app means that you can easily create a Will to ensure your estate passes to those you choose. Taking control of your assets You might not think that you have much in the way of assets when you are young, but if you die without a Will then what you do...

Appointing Guardians

Appointing Guardians For Your Children - What Parents Need to Know Passing away isn’t something a lot of people want to think about too early in their lives. It isn’t an appealing concept by any means. But when you have children, and they need to be protected regardless of what happens to you, contemplating your mortality becomes necessary.If you die while your child or children are under the age of 18, the state will appoint a guardian. Writing your online...