Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • The number of people making Lasting Power of Attorney (LPA) has trebled since 2010. This is good news. LPAs allow you to nominate an ‘attorney’, usually a trusted friend or loved one, to step in and make decisions on your behalf should you no longer be able to do so. The number of people with … The post Help, I’ve Been Asked To Be An Attorney appeared first on Barnet Wills.

Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • A business Lasting Power of Attorney is a powerful legal document which allows a business owner (Donor) to appoint persons of their own choice (Attorneys) to look after their business affairs. It can be used if they lose capacity to manage their business affairs or simply no longer wish to make these decisions themselves. Any … The post Business Lasting Power of Attorney appeared first on Barnet W...

Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • How Michael and Sarah secured an Inheritance-Tax-free legacy for their daughter and planned a secure retirement for themselves. Michael and Sarah, are a married couple in their sixties, with a daughter who lives at home with them after finishing university. Michael is about to join Sarah in retirement. They are now thinking hard about their … The post Case Study: Michael & Sarah’s Story appeared f...

Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • If you’re thinking about transferring a house to children you should read this blog. I am often contacted by families who are thinking of transferring their house to their children. In order for me to advise you properly it is important for me to understand why you want to do this, and look at some … The post Thinking of Giving Your Home to your Children? appeared first on Barnet Wills.

Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • Estate planning is usually left to later in life. However, sometimes things happen that require you to think about it earlier. Becky Barletta, a 31-year-old ski instructor, has recently drawn public attention as one of the youngest people to be diagnosed with dementia and given just 5 years to live. She now also requires care … The post Please encourage awareness of the importance of estate planni...

Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • Most Brits still haven’t considered the impact of inheritance tax despite wanting to leave assets to their loved ones. Inheritance tax paid by British families topped £5bn a year for the first time in history. This is partly due to house prices increases in the last 10 years and stamp duty discouraging elderly people from … The post Inheritance tax tops £5 billion a year for the first time in hist...

Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • The Office of the Public Guardian has admitted charging excessive fees for issuing Powers of Attorney in the last four years. A refund scheme will be announced in due course but amount owed is estimated to be around £89m. The overcharging is due to underestimating the number of people who would register Powers of Attorney … The post Office of the Public Guardian to repay £89m of overcharged regist...

Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • Many of us wrongly assume that if we have money in a joint account with our spouse, partner child or even business partners then they can still access the funds if we were to lose capacity. Unfortunately, this is not the case and is one of the most crucial reasons for making a Lasting Power … The post Think a joint bank account will be the solution if incapacity strikes? Think Again! appeared firs...

Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • According to a survey by Legal & General, more than 300,000 first time buyers were helped onto the property ladder in 2016 thanks to help from the bank of mum & dad. Many parents are also considering downsizing to raise funds to help their children. This can cause legal issues, particularly if the child is … The post Protecting the Bank of Mum & Dad appeared first on Barnet Wills.

Barnet Wills Limited
Barnet Wills Limited
Blog Post

Trust vs Prenup

  • Many people are advised to set up a prenuptial agreement to secure possessions in the event of a marriage breaking down. Although a Court may take one into account, a prenuptial agreement is not legally binding. Prenuptial agreements still carry a stigma resulting in couples, and their families, feeling awkward discussing them. The same can’t be … The post Trust vs Prenup appeared first on Barnet ...

Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • Animal charities win their case in a landmark judgment at the Supreme Court against a Heather Ilott, the woman cut out of her mother’s will. Although each case contesting a Will is decided on its individual merit, this Judgment is likely to make it more difficult for adult children to challenge their parent’s Wills under … The post Charities Win Landmark Illott v The Blue Cross and others Will dis...

Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • There has been lots of debate recently about whether or not a Lasting Power of Attorney is relevant for people who have joint bank accounts. There is a general misconception that when one party loses capacity the party who still has capacity can still access the funds. THIS IS INCORRECT! The British Bankers’ Association guidance … The post Joint bank accounts & Powers of Attorney – British Bankers...

Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • I remember reading the article about Mark Pearson who realised his dream to open England’s first ever crisp sandwich shop. Unfortunately, despite the shop’s popularity, Mark was forced to sell up just 3 months after opening. His health had taken a turn for the worse and the doctors told him he needed to take several … The post The importance of a Business Lasting Power of Attorney. appeared first ...

Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • Probate fees to be hiked into the thousands of pounds with increases starting at 40% for estates of 50,000 up to 9202% for estates in excess of £2m The system is going ahead despite the experts who responded overwhelmingly to reject the idea of even changing fees from a flat rate to rising with estate … The post Government confirms rise in probate fees appeared first on Barnet Wills.

Barnet Wills Limited
Barnet Wills Limited
Blog Post

Are mirror Wills Dead?

  • From 6 April 2017 the new Residence Nil Rate Band will be with us. It exempts the first £100,000, rising to £175,000 by April 2020, of a home’s value from IHT, as long as it passes to a ‘linear descendant’. At first glance this clearly seems to discriminate against couples without children, unmarried couples and … The post Are mirror Wills Dead? appeared first on Barnet Wills.

Barnet Wills Limited
Barnet Wills Limited
Blog Post
  • OK, so you’ve made a Will, but how effective is the planning behind it? I can’t emphasise strongly enough how important it is for you to make a Will. We all have an idea of where everything we’ve worked so hard for should end up. There are many dangers for the unsuspecting person which could … The post It’s important to plan your Will. appeared first on Barnet Wills.

Barnet Wills Limited
Barnet Wills Limited
Blog Post

New blog articles detected.

  • What happens to your Will when you divorce?

    Unless you make it clear that you are writing your Will in contemplation of marriage then marriage will revoke your previous Will. If your marriage is officially ended by the courts (decree absolute or annulment) your Will is not invalid or void. Your former spouse/civil partner is deemed, for the purposes of the Will, to … The post What happens to your Will when you divorce? appeared first on Bar...

  • Are Mirror Wills Suitable?

    Many couples, even after speaking with a solicitor or Will writer, opt for making mirror Wills. This usually involves  leaving everything to each other first and eventually to their children or other loved ones. Unfortunately, as I have often stated, their wishes are not always carried out due to lifetime events. These events are not … The post Are Mirror Wills Suitable? appeared first on Barnet W...

  • The problem with DIY Wills

    I occasionally shop in the pound shop in my local high street. My expectations of quality are not high so I usually limit my purchases to stuff like notepads, pens and a cheap pair of reading glasses to have as a spare. I certainly wouldn’t risk buying electrical items or power tools. So, why pay … The post The problem with DIY Wills appeared first on Barnet Wills.

  • Can a Will be changed after death?

    The simple answer is Yes – but why would you and how? Sometimes beneficiaries are surprised by the contents of a loved one’s Will – and the surprise is occasionally an unpleasant one. Perhaps a family member feels unfairly excluded. Maybe a primary caregiver deserves to stay in the family home during their lifetime. Can … The post Can a Will be changed after death? appeared first on Barnet Wills.

  • Inheritance Tax changes: Residence Nil Rate Band

    In last year’s summer budget the chancellor, George Osborne, announced his intention to provide additional relief from Inheritance Tax. Many had hoped he would simply raise the threshold before IHT becomes payable as this would be very simple to understand but the concept of the ‘Residence Nil Rate Band’ (RNRB) was introduced instead. What is … The post Inheritance Tax changes: Residence Nil Rate ...

  • Are you a Grandparent?

    Whether you’re a new excited grandparent, or even an old hand, have you thought about how you’d like to help your grandchildren both in your lifetime and after you’ve gone? Before you decide, you’ll need to ask yourself * What are their parent’s circumstances * What happens if my adult child divorces or separates after … The post Are you a Grandparent? appeared first on Barnet Wills.

  • Regulated or Unregulated?

    Research by the Legal Services Board (LSB) has found that more consumers are turning to unregulated Will writers because they offer cheaper services with more transparent pricing and higher levels of innovation and service differentiation. The LSB’s report exposes a number of misconceptions. Contrary to some anecdotal evidence, using an unregulated provider is not as … The post Regulated or Unregu...

Barnet Wills Limited
Barnet Wills Limited
Blog Post

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