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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 is a Revocation Clause in my Will and what does it do? The revocation clause in your will cancels all previous wills that you have made. A well drafted will is often a simple, short document, that may on the face of it appear it is something that anyone [...]
What is the difference between an Executor and Trustee? Your will should specify who is executor, and who is trustee (the roles are different). If trusts arise under your will (and they may without you even knowing), you will need to appoint both executors and trustees. Choosing the right people [...]
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