Making payments from a deceased’s estate
If you’ve been left money or a share in someone’s estate, you may be wondering what liabilities you have. Do you need to pay tax on the money, and who is responsible for clearing any debts the deceased may have left? After someone dies, their personal representative is responsible for winding up the estate. It […]
Thinking about dependents in your will
Perhaps one of the first things to think about when planning or revising your Will is who your dependents are. Who relies on you financially or for care? These are significant considerations you will need to think about. Obviously, this could include a spouse, civil partner or co-habiting partner, along with any children you may […]
Securing your business in the event of the unexpected
Having a will in place is essential if you want the final say in what happens to your business and other assets after you die. If you die without a Will, everything you own – including business and non-business assets – will be distributed under the laws of intestacy. This means that you or your […]
6 life changing events you should update your will for
Astonishingly, 55% of UK adults do not have a Will. This means that over half of the population have not safeguarded their future wishes. Without a Will you will not have a choice about what happens to your estate when you die. Instead, the state allocates it to the next of kin which is usually […]
Planning for the future with Disability Trusts
If you have a child with a disability, planning for their future is vital. While it is understandably difficult to imagine a time when you won’t be around to care for your child, you will want to ensure that they are taken care of. By including Trust planning within your Will, you can provide for […]
Where Should I Store My Will?
Once you have thought about what you want to do with your possessions, and who you would like to leave them to, what should you then do with your completed will? If your Will cannot be found by those closest to you, you may as well not have written one! Your possessions will be passed […]
Ensuring A Will Is Valid
By having a Will you are planning what happens to your possessions when you pass away, and ensuring that all you leave behind those where you wish. However, if your Will has been done incorrectly and does not meet legal requirements, it could fail and everything you leave behind may end up somewhere you did […]
Lasting Power of Attorney for businesses
There has been much focus on Lasting Power of Attorney’s (LPAs) recently, especially as they are important for those who have lost capacity and require people they trust to manage their affairs. There has been less talk about LPAs for businesses which can provide protection for a business owner, providing a safety net should something […]
What Happens To My Children If I Die?
Although not a pleasant thought, when planning for the future, it is not just the financials that need to be discussed. If you have children, what happens to them if the worst should happen? Our Norfolk Will Writing team of experts can help guide you to consider what should happen after your death, such as […]
Benefits Of Leaving A Charity Legacy
Many people like to leave a gift to charity in their Will by way of a legacy which not only benefits the charity but also has tax benefits for the donor. When an estate is valued at greater at £325,000 or more it becomes liable for Inheritance Tax, which is charged at 40%. By leaving […]
