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Wills, Trusts & Probate Resources

Resources available for the clients in the Wills, Trusts & Probate field

Estate Information Guide

INFORMATION WE REQUIRE The following are the usual details we will need to begin dealing with the estate and obtaining the necessary Probate Values, however, the list is not exhaustive and there may be other information which will be relevant in particular cases.  If you have any doubt please include the additional details in the last section and/or telephone us to... […]

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The Personal Representative’s Guide

What are 'Personal Representatives'? Personal Representatives (or PRs) are either :- the people named by someone in a Will to act as his/her Executors and administer the estate; or if no Will is left, the nearest blood relatives of the deceased are usually appointed to administer the estate.  They are known as Administrators. There are usually two PRs, but one can... […]

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Inheritance Tax

The basics Inheritance Tax (IHT) may be payable on your estate when you die and also when assets or money is gifted into certain types of trusts. Some other gifts during one's lifetime may also be subject to IHT. The first £325,000 (at 2010/11) of the estate is exempt from IHT. This is called the 'Nil Rate Band'. In simple terms... […]

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What is a Trust?

A trust is a legal arrangement where the trustees are the legal owners of property but look after it for the benefit of a person or persons who are the beneficiaries. Types of Trusts: Bare Trust The beneficiary is absolutely entitled to the property in the trust. The trustees must manage the trust assets for the maximum benefit of the beneficiary. The... […]

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The Intestacy Provisions

If there is a husband, wife or civil partner, and children: The spouse/civil partner gets the personal chattels, the first £250,000 and the income form half of the residue  The children of the deceased, including illegitimate and adopted children, share between them half of the residue immediately and other half when the spouse dies. If there is a husband, wife... […]

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Cohabitees

When a Cohabitee dies, the survivor may receive nothing if the deceased did not have a Will. If this happens expensive and lengthy court proceedings may be required and the outcome may not be guaranteed. Cohabitees should consider their position carefully. Anything which is owned jointly will usually, though not necessarily always, pass by survivorship to the other owner. Anything which... […]

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Changing Wills After Death

The terms of a Will may be changed after then testator has died if all the beneficiaries affected by the change agree to it. The change should be made by a deed (commonly called a Deed of Variation) and if it is made within 2 years of the testator's death it is treated, for Inheritance Tax purposes, as if the... […]

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Mental Incapacity

For a will to be valid the person making it must have sufficient mental capacity. Determining whether a person has the necessary level of capacity may be difficult and legal challenges in respect of a testator's lack of mental capacity are becoming more common. The Law Society and the British Medical Association have issued joint guidance for lawyers and doctors to... […]

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