Can I leave my whole Estate to Charity UK? Gifts to Charities in our Wills can be challenged in a number of ways. The law allows us to leave our whole estate (also called our Residuary Estate) to whomever we please. And, if you want charities to benefit from your inheritance, [...]
Cash Legacy or Gift of Residue? Cash legacies tend to be used as 'token' gifts in your Will. Your will deals with relatively simple broad stuff, including who does what (executors and guardians), and who gets what (fixed legacies, personal items, and of course ‘everything else’). We don’t have to include [...]
Leaving a Cash Legacy to Charity Leaving a legacy to charity in your Will is a great way of making a difference. Charities rely heavily on gifts made to them in Wills. By way of example, the incredible work undertaken by Cancer Research UK was funded in 2021 (figures published on [...]
How to avoid Inheritance Tax There are various ways to legitimately mitigate IHT against your estate. Inheritance Tax (IHT) is the tax paid by our estate on our death against the value of our estate. Stick around to see how you and your loved ones might avoid gifting your hard earner [...]
Inheritance Tax UK – Reliefs and Exemptions Not all of your estate will necessarily attract Inheritance Tax (IHT). Inheritance Tax (IHT) is the tax paid by our estate on our death against the value of our estate. Certain reliefs and exemptions may apply to the assets, and/or beneficiaries of your estate. [...]
What are the Intestacy Rules? Who gets what when we die without a Will? The intestacy rules are the laws that define who gets our estate if we die without having left a Will. Our Will sets out who gets what, and who will be our executors. So, without leaving a [...]
What is Inheritance Tax (IHT)? Inheritance Tax is payable against the value of our estate when we die. Inheritance Tax (IHT) is the tax payable by our executors on the assets that comprise our estate. The threshold for IHT changes from time to time. The current threshold for IHT is £325,000 [...]
Can I leave my Guardian(s) a legacy in my Will? Yes! It's fine to leave your guardians a legacy in your will. They are free to spend it as they choose. Taking responsibility for the children of deceased parents is thankfully a relatively rare event. But, if you are the parent [...]
How is money paid to the Guardians of my Will to take care of my children? Money is paid to your guardians by the executors of your will. One of the most important things a will does is appoint guardians of our ‘minor’ children – ie children under the age of [...]
What if the Executors of my Will die? If the executors of your will die, the beneficiaries can apply to administer your estate. The appointment of the executors in your will is a big decision. They will be the people/persons responsible for administering your estate after you pass away. So, what [...]
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