Useful Resources: |
Why have a Will?In the UK, a will is essential to ensure your assets (money, property, possessions) are distributed according to your wishes rather than by law, and thus avoiding potential family disputes and reducing stress for beneficiaries. If you die without a will in the UK, you’re said to have died “intestate.” Your estate is then distributed according to strict legal rules called the Intestacy Rules, rather than your personal wishes. Your estate follows intestacy rules, which may exclude unmarried partners, stepchildren, or friends. Click here The rules are slighlty different between England, Wales, Scotland and Ireland. The government site is here. |
Creating a physical DeathfileHaving a set of documents available to your Will Executor in case you pass away is very useful as it provides quick acces to much of the information an Executor requires. Click here |
How does Probate typically workProbate in the UK is the legal process of managing and distributing a deceased person's estate (property, money, and possessions). It involves obtaining legal authorisation to deal with these assets. This process typically involves registering the death, valuing the estate, paying inheritance tax, and distributing the assets. Click here There are different rules for probate between England, Wales, Scotland and Ireland. Government - https://www.gov.uk/when-someone-dies |
UK Inheritance RulesWhen someone dies, everything they owned, their money, property and possessions, is called their estate. Inheritance Tax might need to be paid on the estate before anything can be passed on. There are different rules for probate between England, Wales, Scotland and Ireland. Government - https://www.gov.uk/inheritance-tax |
Lasting Power of Attorney - LPAWhat is an LPA It is a legal document used in England and Wales that enables you to appoint trusted individuals to make decisions about your Health, Care, and/or Finances, if you lose mental capacity in the future. Why have an LPA? - More than 800,000 people in the UK have dementia, and the Alzheimer’s Society predicts this will rise to more than one million by 2026. Every 90 seconds someone is admitted to hospital in the UK with a brain injury - traffic or contact sport accidents are examples of what can go wrong. Without an LPA If you lose mental capacity, through illness or injury, you’ll no longer be able to decide who makes decisions for you. Your family or friends might have to go to court to make decisions on your behalf, which can be a lot more expensive and time consuming than making an LPA. There is a government site to help you set up an LPA - here |