Advice

Only an original will counts – although the probate court may accept a copy in rare circumstances. The problem is wills are often updated so it’s difficult to prove that a copy is of the latest version. Therefore, it’s vital that your will is stored safely and away from home in case you and the…

I would hope there are other reasons why you would want to remember your favourite charity in your will. But one financial advantage of doing so is that your inheritance tax bill (IHT) will be reduced. Assets bequeathed to a charity do not count towards the value of an estate, for IHT purposes. In addition,…

There are a couple of myths that need dispelling about who can legally witness the signing of a will. Firstly, a witness does not have to be aged 18 or over. But it is sensible to choose an adult as they may be called to give evidence in court. Secondly, a beneficiary named in a…

Godparents do not necessarily get custody of children whose parents have died. Many mums and dads believe that godparents named at a christening would automatically look after their baby should anything happen to them. Sadly, this is a popular myth. The only way to ensure someone in particular looks after your kids if you both…

Family doctors have been advised not to supply medical records on the basis of a Lasting Power of Attorney (LPA) relating only to property and finance. GPs have been told by the Care Quality Commission (CQC) – the independent regulator of health and adult social care in England – that a health and welfare LPA…

Being chosen to dispose of a loved one’s money and possessions after they die is an honour and a privilege. It’s a task most of us will undertake at some point in our lives. However, an executor of a will may have to negotiate a legal and emotional minefield at a very stressful time. Bear…

The Government’s care system “is on its knees”, according to a coalition of more than 80 charities. The Care and Support Alliance (CSA) has warned that council cuts have left 300,000 older and disabled people struggling on their own with day-to-day tasks such as washing and dressing. Underfunding to the tune of £3.5bn since 2000…

Dementia is a debilitating and progressive condition that is currently affecting 850,000 people in the UK, according to the Alzheimer’s Society. It is a term used to describe the effects of brain damage caused by diseases, like Alzheimer’s, or strokes or even head injuries. Symptoms include memory loss and the inability to think straight. But…

Not updating or not making a will costs families an average of £9,700, according to research published in the Daily Telegraph. Vast fortunes remain in long-lost bank accounts and other financial institutions. Tracking down assets not recorded in a will can be tricky. Many people hire expensive solicitors or probate researchers, as popularised in the…

Grandchildren need not miss out on Christmas and birthday presents if you are incapacitated through illness or injury or old age. Following our article on Lasting Powers of Attorney (LPA) covering Health and Welfare, we now turn to the second type which concerns Finance and Property. The same rules apply about acting in the donor’s best…