If there would be an advantage to us to VARY how we inherit from a deceased person’s estate, either via their Will or by the Law of Intestacy because there was no Will, then we have up to TWO years after that person died to do so. This process is known as undertaking a Deed …
Trusts
Trusts are very often considered to be complicated and expensive. However, although the “terms and conditions” can sometimes be detailed and extensive, the fundamental purpose of a Trust will usually be stipulated by the person or people wishing to create it. The “legalese” contained within the paperwork is merely to ensure that a Trust is …
Inheritance Tax Reduction by Gifting to People
Gifting can sometimes be an effective way to reduce your future potential Inheritance Tax (IHT) liability after your lifetime. However, you only need to consider this if there would be a potential IHT liability after your death OR you have other genuine reasons to make gifts to other people. Will there be an Inheritance Tax …
Inheritance Tax and Investment Property
Investment Property is NOT Automatically Exempt from Inheritance Tax (IHT) It is widely recognised that although most ongoing active businesses are exempt from Inheritance Tax (IHT) upon the death of the owner(s) or controlling shareholder(s), businesses where the main activity relates to investment property or properties are NOT exempt from potential IHT liability. Can I …
Who can Contest my Will or my Estate?
When someone does not inherit from an estate but believes that they should, they may have grounds to contest the Will of a deceased person or contest the law of intestacy if there is no Will. Whether they will be successful with their claim depends upon numerous factors including whether they were financially dependent upon …
Vulnerable Adult Beneficiaries of a Will
Beneficiaries of Wills may be vulnerable for many reasons, including but not limited to learning difficulties, illness, and addiction. How do we provide for a vulnerable (and possibly dependent) adult Beneficiary in our Will? The beneficiary’s vulnerability is not as important as their care needs, and the solution is known as a Vulnerable Person Trust. …
Beware DIY and Free Wills TRF Wills – Wolverhampton Office
TRF Wills are delighted to announce that we now have a full-time consultant covering Wolverhampton and its surrounding geographical areas. This article is an in-depth look at DIY and Free Wills from TRF Wills – Wolverhampton Do-it-Yourself (DIY) Wills If you have been considering creating your own Will, you are totally at liberty to do …
Beware DIY and Free Wills TRF Wills – Wolverhampton OfficeRead More
Probate Services – Wolverhampton
Most people have heard the term “Probate”, however far fewer are aware of what it means. TRF Wills are pleased to be able to offer Probate Services – Wolverhampton. Just because we have a Will, that does not automatically mean that after our death the people dealing with our affairs can immediately begin sharing out …
Jointly Owned Property and Wills – The Connection
Jointly Owned Property and Wills: If you own your property as Joint Tenants with another person or people, you may decide that you want to change the ownership, so it is then held as Tenants in Common instead. This will enable you to gift your share of the property to someone other than your co-owner(s) …
The Relationship Between Wills and Probate
Wills and Probate: Wills are a legally binding confirmation of who does what (e.g., Executors, Guardians, Trustees, etc.) and who receives what (e.g., Beneficiaries of the assets within your estate). When created locally by a suitably qualified and insured professional Will Writer, and in accordance with your specific circumstances and requirements, Wills are also powerful …
Have you Unknowingly Invalidated your Will?
Are you aware of some of the different ways in which your Will could be affected by a change in your circumstances, or vice versa? Have you Unknowingly Invalidated your Will? A New Property Purchase If you purchase a new property with another person, this may have implications if your locally arranged Will (see previous …
Inheritance Tax Allowances
Inheritance Tax (IHT) is payable on death or at certain stages during lifetime. For the purposes of this post, we will only look at the Inheritance Tax Allowances charge payable upon a death. Upon death, our Representatives will calculate the value of our estate, including the value of our assets i.e., property, money in bank …
TRF Wills (TRF) was created by Michael Cotterill in 2005. He is a member of the Society of Will Writers and registered with the Information Commissioner’s Office.