There is a bewildering array of terminology used around the process of dealing with a person’s assets and liabilities when they die. Lucy Wilton from Penderlaw’s Wills, Trusts and Probate team runs through the basic terms associated with Estate Administration and Probate and discusses issues which can commonly arise with DIY Estate Administration. Words such…
Will Inheritance tax apply to me? Many people do not consider themselves to be wealthy enough to be affected by inheritance tax and unfortunately get caught out by life’s final taxation. With over 28,000 Estates liable for inheritance tax in 2016-17, it’s worth looking at ways to legally minimise the amount of inheritance tax your…
In these strange and unprecedented times the Law Society are reporting a huge increase of people understandably either making or updating their wills or setting up a Power of Attorney. Something in the order of a 30% increase on the average. Possibly unsurprising but the process itself is not without its challenges at this difficult…
People often contact us to ask whether a DIY Will, such as the sort that you can buy off the shelf on the high street or online, or even prepare yourself with some online guidance, is actually legally binding and valid. The truth is that it very much depends on a number of factors. Solicitor…
It is a sad fact that farmers’ families often face huge inheritance tax bills if effective succession planning has not been implemented. Tax relief is currently available, but many don’t receive it because the required processes have not been followed. Alarmingly, an NFU Mutual survey in 2017 found that less than 50% of farming families…
The process of Probate (dealing with the Estate of someone who has died) can be an emotional and difficult time but is sometimes compounded when a dispute arises over the Will or with the way it is being handled by the appointed Executor. The legal process to remove an Executor takes time but if you…
