Our Private Client Services group regularly produces
information sheets and guides to help its clients understand
topical issues or changes in legislation.
Please click on the links in the list below for more
detail:
Alternatively, if you are interested in international matters,
you may wish to browse the client information sheets on
the French private assets and tax
and International Private
Client pages of our site.
information sheets
Please click on the bookmarks below to view information sheets
on the following topics:
Wills and probate
- Administration
of estates
Most people will at some time or other have to face the death of a
close member of the family. If this happens to you, in
addition to coping with your grief you may have to deal with the
business and financial affairs of the person who has died.
- Charitable
trusts - grant making charities
Grant making trusts may be
set up by individuals, during their lives or in their Wills, and
may also be used as a vehicle for charitable giving by companies. A
grant making charity will make distributions from its income and/or
capital to a variety of charities each year, usually in response to
formal grant applications.
- Deeds of
variation
In this country an individual
is free to make whatever provisions he or she wishes in their Will
or indeed not to make a Will at all. However, it is often
desired when an individual has died to change the terms of their
Will or the effect of the intestacy provisions (which apply when no
Will has been made). Provided that all of the beneficiaries
affected by the proposal are adult and in full agreement then a
variation can be made. The document giving effect to the
agreement is known as a deed of variation or a ‘deed of family
arrangement’.
-
Directions for signing a Will or
Codicil
What to do if any alterations
need to be made to a Will (or Codicil).
- Domicile
Domicile is an important legal concept when it comes to preparing
Wills and administering estates of people who have died. It
can also determine how much of an estate is liable to inheritance
tax.
-
Excluding people when making a Will
When you make a Will the overriding principle of law is that you
have complete freedom to provide for your estate to be distributed
in whatever way you choose. However, this freedom is
restricted to an extent by the provisions of the Inheritance
(Provision for Family and Dependants) Act 1975.
- Making a
Will
You may consider that a Will is not necessary and that what you own
will be fairly distributed on your death anyway. But that is
not necessarily the case. Parliament has laid down strict rules for
the distribution of the property of a person who has died without
making a Will (intestate).
-
Protecting your business - how a Will can
help
By making a Will you can eliminate problems and make sure that your
business continues running smoothly. Below we list some of
the main considerations.
- Statutory
notices
The statutory notices are advertisements published in the London
Gazette and a local paper giving notice of the personal
representatives' intention to distribute. They give notice to
creditors and other people who may have an ‘interest’ in the estate
that any claim must be received by a specific date (at least two
months from the date of the notice).
tax planning
-
Married couples or civil partners and inheritance
tax
Married couples often make Wills, which provide that, when the
first of them dies, his or her estate passes in total to their
widow or widower, and on the death of the survivor the combined
estate passes to their children. This ensures that the
survivor is adequately provided for according to the assets
available.
-
Inheritance (Provision for Family Dependants) Act
1975
This Act provides that certain people who consider that they will
not receive reasonable financial provision from the estate of
someone who has died (whether or not a Will is left) may apply to
the court for some financial provision to be made for them.
-
Inheritance Tax - the use of lifetime
exemptions
In considering tax planning, clients often overlook the lifetime
exemptions available for inheritance tax (IHT). They may seem
small, but used wisely each year significant tax savings can
result.
-
Reducing Inheritance Tax - pension lump sums and trusts
If
you die before drawing your pension, a lump sum death benefit may
be payable. The exact details will vary with the particular pension
scheme. Commonly, the death benefit is paid to the widow, widower
or surviving civil partner of the owner of the pension fund who has
died. ou die before drawing your pension, a lump sum death benefit
may be payable. The exact details will vary with the
particular pension scheme. Commonly, the death benefit is
paid to the widow or widower of the owner of the pension fund who
has died.
mental capacity
-
Making an Advance Decision about medical
treatment
An adult (that is a person who is aged eighteen or over) who is
capable of making decisions about their medical treatment can, if
properly informed of the implications and consequences, also make
anticipatory decisions about their preferences for medical
treatment, intending them to apply at a later stage should they
lose capacity to make such decisions for themselves or to
communicate such decisions.
- Lasting
Powers of Attorney
Problems can arise if you are no longer able to manage your affairs
owing to an accident, illness or old age. For example, what will
you live on? How will you pay your bills? Who will sign necessary
documents for you?
-
The Court of Protection - our
services
Being a deputy appointed for a
patient of the Court of Protection is an onerous and important
position. If you have been appointed or wish to be appointed to
this position then you may want some help and guidance.
- The Court of
Protection
The Court of Protection is a
court that looks after the affairs of people who as a result of
some mental disorder are no longer able to manage their own
affairs. A person called a deputy is appointed to deal with the
property and affairs and/or the personal welfare of the person who
has lost their mental capacity. The Court, through the Office of
the Public Guardian, supervises the deputy.
View more information related to mental
capacity.
trusts
- Principal
duties of a trustee
On accepting a position as a trustee, a person must be aware of the
duties imposed on him by the trust deed and by statute. The
following is a non-exhaustive overview of the principal duties of a
trustee.
-
Use of a discretionary trust in a Will
For various reasons it may not be desirable to leave assets
directly to a beneficiary on your death.
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For further information or to talk to someone about a
specific matter, please contact a team member in the
office nearest you:
Rachel
Brooks, partner and head of Private Client
Services group in our Portsmouth office, on 023 9228
2714 or at rachel.brooks@bllaw.co.uk.
James
Antoniou, partner in our Oxford
office, on 01865 254286 or at james.antoniou@bllaw.co.uk.
Fiona Fox,
solicitor in our Southampton and Portsmouth offices, on 023 8085
7282 / 023 9228 2748 or at fiona.fox@bllaw.co.uk.
Douglas
Smith, partner in our London
office, on 020 7814 5438 or at douglas.smith@bllaw.co.uk.
Alternatively, email our general enquiries helpdesk
on privateclientinfo@bllaw.co.uk.
:privateclientinfo@bllaw.co.uk">
privateclientinfo@bllaw.co.uk.