WillPack

Witnessing a Will

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Arguably the most essential step when making a Will is the attestation of the Will itself, as all Wills must be signed and witnessed for them to be valid. Along with the testator signing the Will, their signature must be witnessed by two independent people. This means that the witnesses must not be a beneficiary, … Read moreWitnessing a Will

Attorneys making gifts under an LPA

Attorneys making gifts under an LPA

Subject to instructions saying otherwise, attorneys of a Property and Affairs Lasting Power of Attorney have a power to make the following gifts: Gifts to charities that the donor may have given to; and Gifts to family members, friends or acquaintances of the donor on ‘customary occasions’ A customary occasion for this purpose means occasions … Read moreAttorneys making gifts under an LPA

Why use a Business Property Relief Discretionary Trust?

Why use a Business Property Relief Discretionary Trust?

It is fairly common for spouses, where at least one of them owns a business and they wish to leave this to their spouse upon their death. On first death, this would be free of inheritance tax due to the spousal exemption. Second death should also be considered. If a business qualifies for business property … Read moreWhy use a Business Property Relief Discretionary Trust?