In a recent case, Leonard v Leonard, Mrs Justice Joanna Smith DBE upheld the claim that the deceased, Dr Leonard, neither had capacity to execute his purported Will in October 2015, nor knew of and approved of its contents. Dr Leonard’s children from his first marriage invited the Court to pronounce against a Will signed by him at home in October 2015 (the …
Determining capacity when making a Will
Do I really need a Will?
In a survey conducted by Research Without Barriers in 2023 startling statistics have revealed that over 50% of UK adults do not have a Will in place. Many respondents disclosed that they feel their belongings aren’t significant enough to warrant one, whilst others believe they are not ‘old’ enough to make a Will. These findings shed light on a critical issue that …
Trustees: Duties, powers and responsibilities
Trustees are the legal owners of trust property which they hold on behalf of individuals who are entitled to benefit from the trust property as beneficiaries. A trust can be created by an individual during their lifetime, established under a Will, or created by order of the court. Each trust will have its own rules, usually set out in the Trust Deed, …
Lasting Powers of Attorney and the 2023 Reforms
A Lasting Power of Attorney (LPA) is a legal document that allows a person (called the donor) to appoint an individual, individuals, or a trust corporation to act as their attorney. The attorney is appointed to act on behalf of the donor to make decisions or complete tasks for the donor. The attorney could be acting under the donor’s instruction …
Guide: Lasting Powers of Attorney
Things to consider when making a Lasting Power of Attorney (LPA): Decide who you wish to appoint as your Attorney or Attorneys for example your partner and / or children. Your Attorneys must be over the age of 18 and people who you trust implicitly. For a Property and Financial Affairs LPA, they must not be bankrupt. You can appoint …
How much Inheritance Tax do we pay?
The latest HMRC tax receipt monthly bulletin has shown that for the current financial year (April 2023 – January 2024/February 2024) inheritance tax receipts are £6.3 billion. This is £0.4 billion higher than the same time last year (a 7% increase overall). For the financial year of 2022/2023, HMRC reported a record level of inheritance tax receipts and the current financial year is …
Things to consider when making a Will
To ensure that you leave your affairs in the best order to assist your loved ones it is strongly recommended that everyone over the age of 18 should make a Will. We are aware that people delay making a Will for a number of reasons. We can help you consider difficult issues and work with you to find out what …
Checklist for dealing with an estate
Dealing with an estate can be a daunting process. We have prepared a checklist below which can be used as a starting point for the most common steps to be taken when administering an estate. Please note that this checklist is intended as guidance only. Completing the steps below does not necessarily mean that you have fulfilled your duties and …
Personal Representatives: Duties and Responsibilities
Acting as a personal representative (executor/administrator) is not a small task, and there are duties and responsibilities that personal representatives need to be aware of when dealing with an estate. Personal representatives are accountable to the beneficiaries, but they also have other duties and responsibilities in law towards other parties, such as tax reporting to HM Revenue and Customs (HMRC). …