- Written by: Jason
- Category: Will Writing
- Published: 1st April 2014
The term Living Will is often used to refer to an Advance Decision also known as Advanced Medical Directive.
In the right circumstances, these can sometimes be used as an alternative to a Health & Welfare Lasting Power of Attorney.
It is advisable to seek professional advice from your Estate Planning Consultant or Solicitor when deciding on the best way to prepare for the possibility of losing the mental capacity and making advanced decisions about your medical treatment in the future.
- Written by: Jason
- Category: Inheritance Tax Planning
- Published: 30th March 2014
In the UK Inheritance Tax (IHT) may become payable when someone dies leaving an estate worth over £325,000. The amount of tax payable is 40% of the proportion of the estate that is over the £325,000 IHT limit.
HMRC have however legislated to make it possible for you to reduce the amount of tax payable if you leave 10% of your estate to charity. The purpose of this blog post is to outline how it works.
- Written by: Jason
- Category: Will Writing
- Published: 25th March 2014
The law regarding Wills in Scotland and England does differ regarding certain areas that I will outline in today’s blog post.
A lot of people believe that if they have property and assets in both Scotland and England that they will need two Wills. However, this should not be necessary providing you get straight from outset were you consider yourself to be officially domiciled.
Scottish Law applies to the estates of people who die and are domiciled in Scotland, for example having your main residence/family home in Scotland.
- Written by: Jason
- Category: Uncategorised
- Published: 21st March 2014
*Update 29/01/2016 – EPN are currently not accepting new members
In 2013 the Secretary of State for Justice, Chris Grayling, decided against regulating Will Writing activities. Stating that he believes voluntary codes and consumer education could resolve the issues referred to in the Legal service Boards report.
After his announcement Mind At Rest Wills felt it important to follow this guidance and embrace self-regulation in order to stand out from those that don’t. And ensure we provide a high-quality professional Will Writing service to our clients.
When a person dies somebody has to administer the winding up of their estate. This will involve collecting in all assets including money and property. Paying any debts and then distributing the estate to the people who are entitled to it.
As part of this process, the Probate Registry issues a legal document authorising one or more people to carry out the administration of the deceased estate.
This document is called a “Grant of Representation”, also sometimes referred to as a Grant of Probate.
There are three types of Grant of Representation
The Probate Registry is responsible for making sure that an applicant is entitled to be given a grant. And to check that any Will produced appears to be properly made.
Probate registries are open Monday through Friday. The majority of them open from 9:30 AM to 4:00 PM. However, I recommend that you check before attending.
Probate Interviews are by appointment only and are arranged by the District or Sub Registry.
- Written by: Jason
- Category: Will Writing
- Published: 11th March 2014
Family solicitors tend to deal with a wide range of client matters, for example, house conveyancing, divorce matters, civil injunctions etc. Whilst they can also produce Wills and Trusts they cannot be expected to specialise in all these areas.
- Written by: Jason
- Category: Inheritance Tax Planning
- Published: 4th March 2014
Placing a Life Policy In Trust
When you take out a Life Policy the provider that you choose should give you the option to put your life Insurance or Assurance policy in trust.
Choosing to put your Life Policy in trust is one way to make sure that your the proceeds of your policy reaches your loved ones quickly when you die. Avoiding potentially unwanted delays during an emotional time for your loved ones.
- Written by: Jason
- Category: Will Writing
- Published: 25th February 2014
The Executors that you appoint in your Will are legally responsible for the administrative work of rounding up the assets of your estate before distributing them to your beneficiaries.
In the majority of Wills, these Executors also act as Trustees for funds that have to be managed for any length of time.
For example, funds due to minor children aged under the age of 18 years.