Once a Lasting Power of Attorney (LPA) has been signed correctly, it must then be sent to the Office of the Public Guardian (OPG) to be registered before it can be used. The LPA does not need to be registered immediately after it is signed, for example the donor may wish to wait until they … Read moreRegistering an LPA: What happens when an LPA is sent the OPG
When an application to register an LPA is being submitted with the Office of the Public Guardian (OPG), a number of different parties will receive notice of that application. This is to ensure that relevant people are aware of the registration, as there may be a valid reason why that LPA should not be registered … Read moreObjections to the Registration of an LPA
When taking instructions from a client with a business, it is important to both fully understand how their business is held and what their plans are after they have died. Depending on the structure of the business, there may be certain restrictions on how the business can be left after their death. Sole Traders A … Read moreBusiness Succession Planning
In last week’s article we covered what a Bereaved Minor’s Trust is and its requirements. This week we will cover a similar trust, a Bereaved Young Person’s Trust also known as an 18-25 trust. This is another commonly used trust in wills that would arise if a gift is made to the testator’s own children … Read moreBereaved Young Person’s Trusts
A Bereaved Minor’s Trust is one of the most common trusts that will arise from a will. It is a trust that will arise if a gift is made to the testator’s own children with an age condition of 18. It will ensure that the children can be provided for whilst they are minors but … Read moreBereaved Minor’s Trusts – what are they and how do they work?
Many queries we deal with at WillPack concern tax. Often, we are asked what can be done when drafting the Will to mitigate tax. This article will deal with the issue of tax from a slightly different perspective, setting out the tax consequences of a Property Protection Trust (PPT) once the testator has died and … Read moreHow is a Property Protection Trust (PPT) Taxed?
What is a disabled persons trust? A disabled persons trust (also known as a disabled discretionary trust and a vulnerable persons trust) is trust used to benefit a disabled beneficiary. The trust will name a principal beneficiary and whilst they are alive, the trustees will apply both the income and capital of the trust for … Read moreReasons to use a Disabled Persons Trust
What is a certificate provider? A certificate provider is an independent person who will sign a Lasting Power of Attorney (LPA) to confirm that that no fraud or undue pressure is used to influence the donor into making the LPA, the donor understands the purpose and scope of authority given by the LPA and that … Read moreCertificate Provider: What Are They and Who Can Act As One?
In the majority of cases, signing a will in line with the S9 Wills Act 1837 formalities is a relatively simple procedure. We provide signing guidance with all our final wills that assist with showing how the will should be attested correctly. However, where there are circumstances that effect the testator’s ability to read or … Read moreCorrectly Signing A Will: Complicated Scenarios
Last year, the Office of Tax Simplification (OTS) was asked by the Chancellor of the Exchequer to conduct a review into Inheritance Tax (IHT). The OTS’s findings are being published in two reports. The first was published at the end of November 2018 which covered administrative concerns. Information on the first report can be found … Read moreOffice of Tax Simplification Inheritance Tax (IHT) Review – Second Report