A blog from Harries Watkins Jones
News, information and explanations about Probate, Wills, Lasting Power of Attorney, Inheritance Tax and related topics, from our team of tax and legal experts. We hope you find them useful and informative. If you have any suggestions for future articles please let us know.
A recent case of Rainey v Weller illustrates this problem although this particular case predates the current Covid pandemic.
Your Will remains a private document until the Grant of Probate is obtained. Until that point it is only the executors who are entitled to see it.
Most people will have kept paperwork when they die which makes it relatively easy for the executor to locate the deceased person’s assets.
So, you`ve made your Will and decided who the beneficiaries should be and what gifts or legacies you wish to leave them. How many of you are aware of the all-too-common problems and pitfalls that can occur?
The simple answer is yes but there are a few things you need to be aware of before embarking solely in the role of an executor.
A person with early symptoms of Dementia can still make a Lasting Power of Attorney or LPA as long as they have full mental capacity and understand fully what the document is for and what they are approving.
The simple answer is yes and there are currently many self-drafted Wills currently being made. Numerous online sites are encouraging people to download a template and essentially have a go.
The good news is that you can and with as many as 1 in 2 households owning a pet it should be an important consideration when planning your Will.
If you draft your Lasting Power of Attorney or LPA yourself, it must be completed correctly, as mistakes are very costly.
Many people ask why they should seek professional help to write their Will. A recent legal case highlights some of the pitfalls and what to look out for.
This is the vital legal document which must be obtained by the executors before most financial institutions such as banks or building Societies, that are holding assets or investments for the deceased will release any funds…
As an executor you are responsible and have a legal duty to administer the deceased`s estate in accordance with their last wishes and as set out in their Will.