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Both employees and employers should take note that the government have advised of changes to rates for certain statutory payments and benefits. These rates are subject to Parliamentary approval. The relevant areas are: Statutory Maternity and Paternity Pay, Maternity Allowance, Additional Statutory … Continue reading
The Government plans to shake up employment law in the UK. One of the important changes is the increased qualifying period for unfair dismissal. At present, an employee with one year?s continuous employment has the right to claim unfair dismissal. … Continue reading
After buying jointly in equal shares and then separating, the Court awarded Mr Kernott only a 10 per cent share of the property that he owned jointly with his former partner, Miss Jones. The Supreme Court agreed with the trial … Continue reading
Planning for the future isn’t always easy but it’s better to do so than leave it to chance. Making a Will creates certainty, reduces worry and gives you peace of mind knowing exactly how your money, property and possessions will be dealt with after your death.
Making a Will or updating an existing Will doesn’t take all that long, nor should it ever be a traumatic event. From start to finish the process is usually only a week, unless you have complicated affairs or need specialist tax advice. Making a Will is important if you are a home owner, parent or grandparent. We will ensure that your wishes are expressed appropriately so as to benefit those who you would wish to make provision for, such as family, friends or charities.
Tax planning is a vital consideration when making a Will. In the tax year 2011/12, Inheritance Tax is paid at the rate of 40% on the excess of an estate worth over £325,000 although no tax is paid on gifts to a spouse nor to charities. With the value of a modest house in England and Wales now being over £250,000 you really don’t need many more assets to have the potential for paying Inheritance Tax on your death. With our expertise we can minimise the tax payable by simply planning ahead, and taking advantage of a spouse’s or civil partners’ tax exempt allowance.
Planning for the future is very important. Often we leave things to fate. Peace of mind is something that is hard to place a value upon.
Here are just some of the other things that we can advise you on:
When a person dies, someone else has to deal with their estate and affairs. A person’s estate is considered to be made up of the money, property and possessions that they had the time of their death. The process of probate involves collecting in any money owed, settling any debts, including outstanding taxes, and dividing the estate amongst the respective beneficiaries.
All assets in an estate will remain frozen until the Probate Registry gives authority to the personal representatives. If there is no Will then it is up to the most appropriate member of the family to act on behalf of the estate.
If there is a Will, the estate will pass to the people named in the Will; if there is no Will then certain rules known as the Rules of Intestacy will apply.
We pride ourselves in offering a cost effective and sympathetic service to our clients, who find that our expertise is invaluable in guiding them through the form filling and procedures involved in applying for probate. We can help you determine the size of an estate for probate and inheritance tax purposes; we can prepare the application for the Grant of Representation on your behalf and help you lodge the required forms with the relevant organisations to collect monies due to the estate and settle any outstanding debts.
