Legal

As an executor or administrator of an estate, your duty extends beyond merely distributing assets; it includes the responsibility to use all reasonable means to locate missing beneficiaries. If the missing beneficiary turned up after you had wrongly distributed their £50,000 inheritance, you could find yourself personally on the hook to the extent of their loss. ‘In order to fulfil your duties to administer the estate properly, it is imperative to exhaust every possible avenue to find a missing beneficiary,’ says Susan Owens, senior partner at Borneo Martell Turner Coulston. ‘We can guide you through this complex process, ensuring that all reasonable steps are taken and that you are protected from any potential legal repercussions.’ In this article, Susan Owens highlights some of the issues involved in an estate where a beneficiary cannot be located. While beneficiaries may go missing for a variety of reasons, common scenarios include lack of..

You may have heard about the BBC’s The Willpower Detectives or their recent news article about how an Attorney ‘cut off her grandfather from his family’ by using Lasting Powers of Attorney (LPA). Regrettably there are cases where LPAs have been used as a way of controlling people or to aid financial abuse. But what can be done? You can report the Attorney to the Office of the Public Guardian, as they have the powers to investigate the Attorney and to make applications to the Court of Protection to have them removed. If you are concerned about the person’s well-being or care, you can contact your local adult social services, and if the matter is critical, you can make an urgent safeguarding referral. If you believe someone has committed a crime, for example, fraudulently putting the Lasting Power of Attorney in place, misappropriating funds or abusing the vulnerable individual, you..

Most people will have seen or heard the phrase and it’s true that retirement is to be enjoyed, but younger generations are facing some real challenges, especially when it comes to things like getting on the housing ladder. That’s why Inheritance Tax: Gifting to Children and Grandchildren is such an important subject, whether it’s for purchasing homes, education costs or special occasions. How Much Can I Gift Without Paying Inheritance Tax (IHT)? Up to £3,000 in assets or cash per tax year, tax-free. Everyone has their own £3,000 limit called the annual allowance. If you did not make any gifts in the previous tax year, this rises to £6,000. You can also make as many gifts of up to £250 per person, if you haven’t used up your annual allowance on the same person. Additionally, you can gift up to £5,000 for weddings (£2,500 for a grandchild) without using up..

The recently published Terminally Ill Adults (End of Life) Bill, aims to permit people in England and Wales who have an incurable illness to be legally assisted by a doctor to die. Whichever side of the debate you support, the bill is a reminder that it is important to make your wishes clear if you have strong views about your end-of-life care. One option is to make a health and welfare lasting power of attorney (LPA) which gives trusted individuals the power to act in your best interests and communicate your preferences when you can no longer express them yourself. It is a myth that your loved ones will be able to make these important healthcare decisions. Without a health and welfare LPA in place, your family cannot legally make decisions about your healthcare. While they will likely be consulted, decisions may instead fall to healthcare professionals or could even..

Moving in with a loved one is an exciting time and the last thing on your mind is likely to be the seemingly unromantic notion of making a plan for what should happen to your finances, property and children while you live together or if you split up or die. ‘However, if you plan to stay together for the long term then it is worth discussing the potential benefits of a cohabitation agreement,’ says Connor Williams, in the family law team with Borneo Martell Turner Coulston ‘Cohabitees do not enjoy the same automatic legal rights as a married couple when a relationship breaks down, which can lead to financial uncertainty and the potential for a costly dispute.’ It is sensible for an unmarried couple to have a cohabitation agreement – which is a legally binding document if properly executed as a deed – in place when they move in together..

As an executor, you bear significant responsibility for administering the estate of the deceased person. A key challenge during this process is managing any variations in asset valuations that can occur between the date of death and the eventual distribution to beneficiaries. These fluctuations can arise due to changes in market conditions, the nature of the assets themselves, or simply the passage of time. ‘If not handled carefully, variations in valuations during the probate process can impact the entire distribution process, tax liabilities, and your duty to treat beneficiaries fairly and according to the law,’ says Susan Owens head of the wills and probate team with Borneo Martell Turner Coulston ‘Proactively managing asset valuations and seeking expert advice early on can significantly reduce the risk of a dispute and financial loss for beneficiaries.’ Susan Owens delves into the key challenges when managing asset valuations during probate. Timing issues: death, HMRC..

The period after the Christmas holidays often sees an increase in couples seeking divorce or separation. The pressures of the festive season can highlight existing tensions, leading couples to the difficult decision to separate. Family law professionals play an important role in supporting families during this difficult time. They can provide legal guidance, conflict resolution, and provide a means of information that will help to create options to consider for the future, and prioritising the welfare of all that are involved. One of the first steps in helping couples during divorce or separation is to provide clear and accessible legal advice. Wilson Browne offers an initial free call to assess the issues that present and to provide an early opportunity to assess the next steps. Obtaining this guidance early on helps couples make informed decisions and can reduce the stress and anxiety that separation naturally brings. Early legal advice can..

When you are going through a divorce, or dissolution of your civil partnership, a key concern will be to ensure that you will have financial security once it has all been decided. What each of you is likely to earn in the future will be a factor that is looked at for this purpose. This may be a particular area of focus for you, if one of you gave up your career to raise the family and supported the other to progress and flourish in theirs. ‘You may also wonder how a wish to retire early, or perhaps work less, might affect the way in which future earnings are considered,’ says Connor Williams in the family team with Borneo Martell Turner Coulston. ‘It is therefore a good idea to understand how this factor is taken into account, and what you may need to think about before starting the process.’ Is..

With New Year plans in progress, we spoke to Wilson Browne Solicitors about getting your affairs in order with a Will. Do I really need a Will? This is the most common question we get asked, especially from married couples as it is often assumed that everything will simply pass to the surviving spouse. However, if you do not have a Will in place, under the rules in England and Wales, you are deemed as passing intestate meaning it is then left to the intestacy rules to determine who benefits from your estate. Another aspect to note is that un-married partners and co-habitees are not recognised under the intestacy rules and so your partner would not benefit from anything in your estate. If you want control over who inherits from your estate and peace of mind knowing that your wishes will be respected after your death, then you need to..

Lasting Powers of Attorney are like insurance policies: you may never need to use them, but if you do, they’ll make an otherwise unpleasant situation much easier to deal with. A Lasting Power of Attorney is a document that enables you to plan for the future, by appointing someone else to deal with your affairs should you lose capacity. You may lose capacity due to an accident, a serious stroke or dementia. There are two types of Lasting Power of Attorney, one that allows your attorney to deal with your property and finances, and another that allows them to make decisions about your health and welfare. Arguably, it is equally important to have a Lasting Power of Attorney as it is to have a Will. In 2023, there were over 10 million Wills registered with the National Will Register, but only 6 million Lasting Powers of Attorney registered at the..

The latest UK budget introduced several measures that may significantly impact your estate planning, with implications for Inheritance Tax (IHT), Capital Gains Tax (CGT) and pension transfers. These changes may affect the way you manage your estate, make tax-efficient transfers to beneficiaries, or utilise reliefs and exemptions effectively. ‘Given these substantial changes, it is crucial you seek professional advice to navigate the new landscape and ensure your estate planning strategies remain effective and compliant,’ says Susan Owens, Senior Partner at Borneo Martell Turner Coulston . ‘Each person’s circumstances will be unique, so it may also be necessary to involve your independent financial advisor and your accountant.’ Susan explores some of the key budget changes which may affect your estate planning and IHT position. IHT bands remain frozen The budget preserved the current nil-rate band (£325,000) and the residence nil-rate band (£175,000) and these will continue to be fixed at these..

Currently, 1 in 4 divorces involve couples aged over 50. The high proportion of later life divorces reflects wider societal trends. It is no longer unusual for women to have careers and financial independence. It is no longer necessary for people to stay in loveless marriages, especially once adult children have left home. An increased life expectancy is also a contributing factor, with potentially decades of good health ahead, following retirement. Other reasons cited include the lack of stigma now attached to divorce. Getting a divorce is never easy, but it may be especially daunting in later life, when you have potentially been with someone for a long time. It may feel like you are starting all over again. It is important to seek specialist advice about the financial implications of separating at an early stage. Before reaching any agreement, each party should provide the other with full details of..

The Children and Family Court Advisory and Support Service (CAFCASS) works with families who need to go to court to settle a dispute about their children, such as in regard to residence and contact. ‘The extent of their involvement will depend on individual circumstances,’ explains Connor Williams in the family team with Borneo Martell Turner Coulston ‘It is important to understand at the outset how CAFCASS will be involved so that you know what interactions to expect.’ Connor answers some commonly asked questions about CAFCASS. Does CAFCASS have to be involved? This is a requirement for all applications lodged regarding arrangements for children, whether that is deciding who they will live with, spend time with, or other specific issues such as which school they should attend. The involvement of CAFCASS gives the court an independent and professional view on what would be best for the children, from the start of..

Did you know cohabiting couples have increased by 144% since 1996? Wilson Browne solicitors explains the crucial differences in inheritance rights compared to married couples, highlighting the importance of making a Will to protect your estate. According to the latest Census Data from the Office for National Statistics, the number of couples living together, without being married, or in a civil partnership has increased by 144% between 1996 and 2021. Whilst the next Census is not scheduled until 2031, it estimates that cohabiting couples/families accounted for 18% of all families in 2023. Couples who have been living together for a certain number of years often believe, that they would have the same rights as a couple who are married or in a civil partnership. So, what rights do you have if you have been cohabiting and your partner sadly dies? Unfortunately, cohabiting couples do not automatically inherit their partners Estate...

Curious about unlocking the wealth tied up in your home? Wilson Browne solicitors can guide you through the complexities of equity release. Learn about the benefits, drawbacks and important regulations to see if this option is right for your future. Eager to unlock wealth that’s built up in your property, but unsure whether it’s a good idea for you and your family? With equity release, it’s essential you have a clear understanding of the potential benefits and pitfalls of your chosen scheme. Fortunately, equity-release schemes have high levels of safeguarding in place and must follow a strict code of conduct in order to protect consumer interests. These strict regulations are set out by the Financial Conduct Authority (FCA) with the oversight of the Equity Release Council (ERC) and must be followed by all equity release scheme providers and advisors. Like any loan arrangement, there’s likely to be both pros and..