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Lisa Carter
 

Power of Attorney & protecting the rights of people with dementia

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Dementia Action Week runs 17th - 23rd May 2021 and is a national event that sees the public coming together to take action to improve the lives of people affected by dementia. When a person receives a dementia diagnosis, this doesn’t automatically...

Does getting married effect an existing Will?

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In simple words, yes ! When you marry, any Will you have in place is automatically revoked (cancelled) unless it was made in contemplation of the marriage taking place. If you do not then sign a new one, when you die the rules of intestacy will dictate...

Do You Need a Power of Attorney?

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Do You Need a Power of Attorney? A power of attorney is a document which quite simply grants another person, of your choosing, the ability to 'stand in your shoes'. They will then be able to act on your behalf in relation to financial and...

Witnessing Wills Via Video Call To Be Made Legal Until January 2022

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During these unusual times we have been meeting clients to sign their Wills in their gardens using garden furniture, car bonnets and even hot tubs as tables and we have recently starting meeting with clients for signings in our offices whilst maintaining...

Key Worker FAQ: "Why Do I Need A Will or LPA?"

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We know that contacting a Solicitor about having a will is not an impulse buy. If we asked you for a list of the things that you need as a Key Worker you might come up with a list like this: Hand sanitiser, facemask, bottled water, antiseptic wipes,...

LPAs and Dementia: Control Over the Uncontrollable

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According to stats provided by the Alzheimer's Society, one in ten dementia patients spends over a month in hospital after being admitted. Caused by damage to the brain by diseases such as Alzheimer's disease, dementia is often characterised by...

Leaving Money To Charity In Your Will

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It seems that people in the UK are a charitable bunch. In fact, last year, just under £3 billion was donated to charity in wills, which is expected to rise to £3.4 billion by 2022. This figure means that 3.5% of all of the money left in estates...

Reform Set To Cut Complexity Of Inheritance Tax

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Inheritance tax could be due an overhaul, and the proposed changes could have far-reaching implications for future estate tax planning. Sweeping reform of inheritance tax has been recommended to cut complexity of the so-called ‘death...

This Is Why You Need A Will

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Recent statistics show that, shockingly, over 60% of adults in the UK do not currently have a Will. This is a very worrying figure, considering the problems that can potentially arise on death. Life is full of uncertainty and we can never tell what is...

6 Simple Ways To Reduce Inheritance Tax

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As Benjamin Franklin said, the only things certain in life are death and taxes... With the Nil Rate Band (NRB) currently frozen at £325,000 until 2020/21 and the Residence Nil Rate Band only available to individuals who meet the government's...

How will you declare your love this Valentine's Day?

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Roses are Red, Violets are Blue, I've done my Will, Why not do yours too? Valentine's Day has been celebrated as early as the 14th Century and has grown over the years with many of us buying flowers, chocolates or even proposing. But nothing...

Probate Fees set to rise

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Probate Fees set to rise after being approved by House of Commons committee With a vote of nine to eight it would seem the UK government's plan to introduce the new banded probate fees is becoming a reality. Yesterday, the House of Commons Delegate...

The soaring costs of funerals

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According to recent reports, The Competition and Markets Authority (CMA) and The Treasury are to review funeral costs 'to ensure that people are not getting a bad deal.' A consultation is due to be launched to investigate the possibility of...

Pension and assets, who gets them?

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Your pension fund passes to who you want but what about the rest of your assets? Most people are aware that their pension pots will pass to a certain person on their death due to the administrative process of opening the fund - usually an individual will...

What does intestate mean for you?

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October 2014 saw the biggest changes in probate law’s history come into effect. While the overhaul meant no real difference to those with minimal assets, for the partners of those who died without making a will and who have more assets, it meant...

Are you due a refund for Power of Attorney fees?

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From April 2017 the Registration Fee was reduced to £82 as The Ministry of Justice admitted that between 2013 and 2017 people had been charged more that the cost of processing the applications. Individuals, or their attorneys, who made either a...

Christmas gifts that keep on giving

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Christmas shopping usually means a visit to the high street or browsing online retailers, but the season of giving can be a good time to make sure you’re maximising your opportunities for inheritance tax reliefs, whether to family, friends or charity,...

Be sure to find your Will

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In recent years TV programmes such as Heir Hunters have highlighted how many Estates end up with the Government's Bona Vacantia Division or being distributed incorrectly as the Deceased's last Will cannot be found. To avoid your Estate being...

Is it costing you to not talk about money?

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While we might be happy to talk about politics and a vast array of personal matters, when it comes to finances, we are unlikely to what to share the details of our life. Indeed a Fidelity Investments study among retiring couples showed that 43% couldn't...

Your 'digital assets' - what are they and what will happen to them when you die?

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So much of our lives are tied up in social media nowadays, but the idea of leaving a ‘digital legacy’ on Facebook or Twitter is hardly ever discussed. What is a digital asset? A digital asset, in simple terms, is...

What is the additional permitted subscription allowance?

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The Additional Permitted Subscription (APS) allowance, also known as the Inherited ISA allowance, lets you make contributions to an Individual Savings Account (ISA) on top of your normal annual ISA allowance based on the ISA investments held by your spouse or partner on their death.

Where there's a will, there's a way

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When thinking of making a will, the idea of a Victorian lawyer taking down the last instructions at the bedside still springs to mind for many people. And the 19th century lawyer would find things pretty much as they were if they time travelled to...

Mental Capacity: Are you leaving it too late?

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We live in a society where health and wellness are “on trend”. People of all ages are doing more to look after their bodies; they are heading down to the gym and they are eating whatever “superfood” the media is suggesting. In...

The end of Wills as we know them?

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The Law Commission for England and Wales has released a consultation about possible reforms regarding the making of Wills claiming it should be brought into the ‘modern world’. The current law governing the drafting of a Will dates back to the...

Who acts as executor if there is no will?

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Around two-thirds of British adults do not have a Will and as many as a third of us die without leaving one. This is known as dying “intestate” and can leave the family, friends and other potential beneficiaries of the deceased’s estate in...

Who will look after my children if I have not appointed guardians?

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If you have children under the age of eighteen you can appoint guardians to look after your children in the event that on your death there is no surviving parent with Parental Responsibility. Many people believe that their children will automatically be...

When do you apply for a deputyship application?

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If a friend, loved one or yourself lost the capacity to manage financial affairs and either an Enduring Power of Attorney (EPA) or a Lasting Power of Attorney (LPA) has not been put in place, a deputyship application is the next step. A Deputyship...

Life Interest Trust

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A Life Interest Trust should be considered if, for example: you want to protect your assets against care fees; you have children from a previous relationship and want to provide for your new spouse but also want to...

What are Lasting Powers of Attorney and why are they important?

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Studies show that only 5% of the population are prepared for mental capacity issues in the future. It is important to prepare for our future and as we get older the risk of developing dementia increases. Currently an estimated 850,000 people have been...

Are you making the most of the new Residence Nil-Rate Band?

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Introduced in April this year, the new Residence Nil-Rate Band (RNRB) could save your estate as much as £140,000 in inheritance tax (IHT) if you pass your family home to your children on your death.

Spring Budget Watch

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The first steps towards preparing the UK for a post-Brexit future were announced by Chancellor Philip Hammond in his Spring Budget, which avoided headline-grabbing shake-ups and tax breaks in favour of economic stability.

When Time Forgets

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It is often said that ‘things are never lost – only misplaced’. So what happens if no one knows where a loved one's Will is stored, or more to the point whether they ever made a Will. At Gepp & Sons once we have advised our clients...

Why everyone should make a Will and consider funeral arrangements

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One of the few certainties in life is death. None of us like to think about our own passing, but failure to do so can create difficulties for those we leave behind.Despite the uncomfortable reality that death comes to us all, of the 51 million adults living...

Beware of new tax offences!

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The Finance Bill 2016 ("FB 2016") introduces three new criminal offences tackling tax evasion and avoidance Part 10 of the FB 2016 contains provisions for tackling tax avoidance and evasion, including three new criminal offences seeking to tackle...

Probate fees to rise "astronomically" for those with the biggest estates

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Obtaining a Grant of Probate from the court to deal with a deceased's affairs has long been fixed at either £155 or £215, for any estate worth more than £5,000. The Ministry of Justice now wants to increase these fees to as much as...

Finally presumed dead after 42 years!

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Lord Lucan is now presumed to be dead, a High Court judge has ruled. 42 years after the peer vanished a death certificate has finally been issues. He was declared dead in 1999, despite hundreds of unverified sightings, but the new ruling gives...

The rising cost of "paupers' funerals"

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The number of 'public health funerals' has risen by 11% in the past four years, according to a Freedom of Information request by the BBC. This 11% hike has by consequence seen a 30% increase in cost to local councils in holding these funerals,...

Son working for 10p an hour inherits £1m

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James Davies, 54, dedicated his life to the £1million business after father Tom promised him: ‘One day all this will be yours’. But after his death it was revealed his will stated the farm should be split equally between Mr Davies and his...

Osborne puts inheritance tax under the spotlight

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The Chancellor announced that the UK economy grew 2.6% in 2014, faster than any other advanced economy but lower than the 3% that he predicted in December. He also reported record levels of employment and trade deficit figures that are "the best for 15...

Secrets in Switzerland lead to big penalty bill

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The case, the first to test the position in court, is a warning to anyone who fails to come up with the facts when asked questions by those handling the estate of someone who has died. When Clayton Hutching’s father died, he left an estate of farm...