Wills, Trusts and Probate

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NOTE: This article was first published in 2009 and reflects the intestacy rules as they were then. It is important to bear in mind that the intestacy rules are constantly evolving so it is vital that you take expert advice from a solicitor on the up to date position. The Intestacy Rules that regulate the distribution of the estate of a deceased person who dies without a Will have recently changed. This is how the new Intestacy Rules will have effect from February...

In his October Pre-Budget Release the Chancellor, Alistair Darling, proposed a significant change in Inheritance Tax (“IHT”) relief, applicable only to married couples and civil partners (“spouses”). As matters stand, each individual spouse has the benefit of a “Nil Rate Band”. In other words, a part of their net estate, currently £300,000, is not chargeable to IHT. Any property above that threshold is subject to IHT unless exemptions or reliefs apply. Transfers of property between spouses are generally exempt from the...

Have you ever given any thought to who would look after your financial affairs if you lost mental capacity whether through old age, illness (such as Alzheimer's Disease) or even an accident? No? Have you ever given any thought to who would look after your financial affairs if you lost mental capacity whether through old age, illness (such as Alzheimer's Disease) or even an accident? No? Well read on! The truth is that if you did lose mental capacity no-one, including...