When dealing with the administration of an estate, distributing the gifts is one of the final stages. It is important that executors do not make distributions too soon, to protect themselves and the estate against debts or claims. Executors are advised not...
Wills, Trusts & Probate
If you are an attorney for health and welfare decisions (as opposed to financial decisions), it is important to make sure that you are clear about exactly what decision making powers have been granted to you. This will ensure you can work with medical staff...
A common concern for our clients and their families is the prospect of having to sell the family home in order to meet care costs,’ explains Rebecca Tuffrey , a Wills, Trusts & Probate specialist in the team with Stephens &...
If you have been asked to act as an attorney for someone you may wonder when it will come into effect, especially if the power of attorney was made some time ago when your friend or relative was in good health. ‘There was an important change in 2007,...
Acting as an executor means that you are responsible for reporting the value of the estate and declaring any inheritance tax due, so it is important to make sure you follow correct procedures. ‘Since January 2022, new rules apply in respect of...
There are many reasons why someone might choose to leave money to charity in their will. Tax planning may be a key incentive, or it could be due to a lack of close family members. Some may simply wish to create a longer lasting personal legacy or they might...
While celebrities often have many professional advisors who look after their business affairs, like many ordinary people they sometimes do not get around to making a will and setting out their particular wishes. ‘When you die without a will,...
A secret trust can be a useful way of leaving a gift in your will if you do not wish the details of that gift to become public knowledge. Historically, secret trusts were used by those wishing to pass assets to extra-marital partners or illegitimate...
An increasing number of executors choose to deal with an estate themselves when a close relative dies, but is this really a wise move? The reality is that probate is usually a complex process, even where the estate appears at first blush to be small...
Without a valid will that says otherwise, your spouse may inherit most if not all of your assets on your death and any children you have from previous marriages could be left with little or nothing. This is why more and more cases are being brought...