Do I need a solicitor to make a Will?

Last Will and Testament – overviewMaking a Will is something many people put off but it is one of the most important things we can do to help our families after we are gone.A Last Will and Testament is a method of making sure that your wishes are known and that your dependents are taken care of.What exactly is a Last Will and Testament?Despite the slightly archaic sounding title a Will is something that has real validity and relevance...

How much inheritance tax do I have to pay?

Inheritance tax – plan wisely to save thousandsInheritance tax can run up to 40% of a bequest so it is worth spending some time making sure your estate doesn’t get reduced unnecessarily.Sensible inheritance tax planning can actually save people a considerable amount of money but you must think about this in good time and when you are making your Will.What estates won’t pay inheritance tax?Probably the best place to start is to identify who isn’t at risk of paying...

Do I still need a Will if I am married?

Do I still need a Will if I am married?People often wonder whether they need a Will if they are married and it’s easy to get confused about the rules.In this post, we’d like to give you the facts around inheritance for married couples.Recently married?The first thing to say is that if you have recently got married then this is the ideal time to review your Will and of course if you haven’t got one, to rectify this.Your Will...

How do I apply for probate?

How do I apply for probate? When someone passes on it can be a really difficult time for those left behind. Not only do you need to cope with the distress of losing someone but there is also the matter of organising their affairs.One of the main things to do after a bereavement is to handle probate and in this guide, we’ll help you through the process.What is probate?Probate (called confirmation in Scotland) is the formal process of administering the...

What is a Will codicil?

What are Will codicils and should you use them?A codicil is one of the things that people often think of when they consider Wills but what exactly are they and how are they used?More importantly, should you use a codicil for your Will?What is a Will codicil?When you make a Will you do so based on the assets and with the knowledge you have at the time.However, life moves on and things that you have written in your Will...

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...

Only 1 in 10 people know these 5 facts!

Only 1 in 10 people know these 5 facts about dying without a valid Will Dying without a Will can have far-reaching consequences for families and loved ones, and yet 70 percent of the UK population have no Will in place. Research has shown that only 1 in 10 people know some of the basic facts about the consequences of dying without a valid Will. 1.     The Rules of Intestacy When someone dies without a Will, all of their possessions and other assets...

The seven most important reasons why you need a Will

The seven most important reasons why you need a WillYour Will is your opportunity to tell people formally how you want things to be handled when you pass on.This is an important document and there are some very good reasons why you should make one.These aren’t necessarily in order of importance, as everyone’s situation is different but we think these are the most compelling reasons why you need to sit down and organise your affairs as soon as you...

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...

Can your executor find your Will?

Can your executor find your Will?There can’t be many people that haven’t seen films or TV shows where the central plot device is the loss and search for a Will.It might be funny on the screen but in real life, the loss of a Will can cause heartache and frustration and can even stop your instructions being carried out.The number one rule – tell your executors where to find your WillThere really is no point in going to the...