The old saying goes that there are only two guarantees in life: death and taxes. Therefore, with this in mind, it makes sense why so many of us want to ensure that after we die, our hard-earned assets are passed to the people who mean the most to us. Wills are one of the most…
Many people hold a joint bank or building society account either with their spouse or partner or sometimes with another family member. This article will suggest some of the difficulties encountered with joint accounts and the common misconceptions regarding ownership of the funds. There are a variety of reasons for holding an account in joint…
The growth in claims after death Over the next few months, Barrett & Co will be publishing a series of articles highlighting the extensive work that we do in what is known as Contentious Probate. This specific type of civil litigation is primarily linked to issues and disputes caused when family members pass away, perhaps…
Many people, when approaching retirement or shortly after having retired, take the opportunity to review their financial and personal affairs. This is often a time when they realise that their priorities for the future have changed now that they are older, and their children have grown up. For example, whereas previously Inheritance Tax may have…
In November 2018 the UK Government proposed a substantial increase in Probate Court fees which were to be charged on a sliding scale in accordance with the value of the Estate. My colleague, Jane Whitfield, wrote an article at the time explaining the increases which can be found here. These increases would have seen our…
Data from the Office for National Statistics (ONS) shows that the number of cohabiting couple families is growing faster than married couples and has increased by 25% over the past decade; making them the second largest family type (the largest being married couple families). It has also been established that one in five cohabiting couples…
How much time would you say that you spend planning a holiday, researching what car to buy, or even searching for a place to have a romantic dinner for two? How does that time compare with the amount of time you spend on estate planning – deciding who will inherit your assets after you have…
This is a term which people often use very loosely, and often think is very easy to do: but changing a name on the title deeds is something which should be approached with extreme caution. The issue usually arises after someone has passed away; but often, during their lifetime, the owner of a property or…
You may be acting as the Executor of a deceased person’s Will, in which case you will be responsible for winding up the deceased’s estate and carrying out the terms of their Will. If the estate includes a property, then it will be your responsibility to sell the property unless the beneficiaries under the Will…
This article deals with those who act in a representative capacity for a house owner, as their attorney or deputy. Selling under a Power of Attorney It is important to be aware of the extent of your powers, which will be defined by the type of Power of Attorney you have, and any specific directions…
