Joint Property Ownership

By | Property | No Comments

When two or more people own a property, there are two types of ownership with the Land Registry, joint tenants and tenants in common. When dealing with property in a Will, depending on how the testators wish to distribute their property, the question of ownership must be raised.   Joint tenants is the most common and standard way for property to be registered at the Land Registry when purchasing a property. The general concept of joint tenants is simple enough to understand. The ownership is tied together between the proprietors, therefore when either passes the away, the survivor(s) will inherit the deceased’s share of the property by survivorship. If this is the wish of the testators, no further action should be taken as this mean the property does not need to enter probate. The survivor(s) will just need to provide a certified copy of the death certificate and a completed…

Read More

Organ Donation

By | Wills | No Comments

Organ Donation It is a fairly common request from clients for their Wills to include a statement in regards to their organs being donated for transplant purposes after their death. Such can be included in the Will using the following wording: ‘If practicable I request that my body or any part of it may be used for therapeutic purposes.’ Please note that this wording only allows for organs to be donated for transplant purposes, and does not extend to donation for medical research. This wording could also be limited to exclude certain organs, for example eyes. Requesting that organs are donated for medical research is less common but can be included in the Will with the following wording: ‘If practicable I request that my body or any part of it may be used for the purposes of medical education and research.’ Alternatively, clients may wish that their body be used…

Read More

Marriage, Divorce and Wills

By | Wills | No Comments

Pending Marriage   One of the most overlooked facts regarding UK Wills is that marriage revokes any current Will the testator has at the time. Most ‘Newly Weds’ do not consider re-visiting their Wills immediately after marriage to ensure that they are still valid and in most cases, the answer is no.   There are provisions that can be made within a Will to ensure that it is not revoked upon marriage, giving the happy couple one less thing they need to consider at such a stressful point in their lives. If you see an unmarried couple, one of the first things you should ask if whether or not the clients are expecting to marry. There is no time period that is considered too soon or too late to include this within a Will, as long as the clients have a valid Will that will not be revoked.   Divorce…

Read More

Discretionary Fund Management

By | LPA | No Comments

Following guidance and suggested wording issued by the Office of the Public Guardian with regards to Discretionary Fund Management (DFM), we looked at this in great detail and continued to review the situation. WillPack along with a number of other organisations took the decision not include the instruction due to uncertainty around the issue. Having taken further legal and professional advice after talking to a number of our IFA’s, we will now be issuing a new LPA instruction form to include the DFM instruction as a yes or no option. However, caution will need to be taken as The Office of the Public Guardian cannot guarantee that the bank/ organisation will accept the suggested wording and it is advisable that the donor contacts the bank/ discretionary investment manager to confirm in writing that they will accept the wording; or they seek their own legal advice as appropriate before the LPA…

Read More