Latest News within Wills (Page 2)
With Internet usage in the UK at its highest ever levels and growing, perhaps it's time for people to give some consideration to the protection of their digital assets? Over 80% of UK adults access the internet every day, using sites such as Facebook and Twitter for social purposes but also transactional sites such as eBay for the sale of goods for money.
Banner Jones is delighted to have become a recent member of the Derbyshire County Council Trusted Trader scheme.
The scheme, with its distinctive purple logo was set up in 2008 to help local people find traders and businesses who are committed to providing good customer service at a fair price.
New laws simplifying what happens when someone dies without leaving a will came into force on 1st October this year. Sarah Nadin, Head of Wills & Probate said, “The changes to the law are designed to speed up and modernise the process of dividing the money, property and other assets of a person who dies without a will (intestate)”.
Families of missing people will be given help to cope with the complex legal and financial issues they face as a result of new rules that come into force on 1st October 2014. From this date, Presumption of Death certificates will be able to be issued which will be equivalent to death certificates and can be applied for by relatives of people who have gone missing and are presumed dead. Sarah Nadin, Head of Private Client said, “No one can prepare for the heartache and confusion arising from the disappearance of a loved one, gone with no trace, but the new rules will at least ease the process of dealing with the bureaucracy”.
The England & Wales High Court has upheld a will executed on his deathbed by a man who left everything to his long-term partner. Rob Stubbs from Banner Jones said “The law provides individuals with wide discretion on how their estate should be distributed on their death; although there are specific circumstances under which this discretion can be challenged”.
Estates liable for Inheritance Tax in the UK in 2010-2011 faced a bill of nearly £166,000 on average, according to new analysis of HMRC data by Prudential. The study, based on the latest publicly available regional data on tax receipts, shows that in the 2010-2011 tax year, inheritance tax was paid on around 15,600 estates with a total bill of £2.6 billion
The England & Wales Court of Appeal has ordered that a clerical error in the signing of Wills by a husband and Wife can be rectified after the event. Sarah Nadin, Director of Banner Jones said, “The creation of a valid Will follows very strict rules in relation to how it is signed and witnessed”.
In this case, a solicitor had been instructed by the husband and wife to draft identical wills leaving his or her estate to the other and, if the other spouse had already died, to the claimant, whom they treated as an adoptive son. Through the solicitor’s mistake each signed the other’s will. The error was not noticed on the wife’s death but, on the husband’s death the natural sons of the husband and wife, who would succeed to the entire estate on intestacy, challenged the validity of the will signed by the husband.
guardian.co.uk, Monday 18 July 2011
Legal ombudsman calls on government to take action over unregulated companies offering consumer financial services.
Which? says there is a lack of clarity over financial services including will writing.
Thousands of people are being ripped off by unregulated claims management and will writing companies, the legal ombudsman has said in his first annual report.
In an unfortunate recent case, the High Court concluded it couldn’t use the Administration of Justice Act 1982 to correct an obvious error made in executing a will. Under that Act a “clerical error” can be corrected. Sarah Nadin, Head of Wills & Probate at Banner Jones says: "A very unusual case, with lessons for all to think about.”
School fees at some private secondary schools are often in the region of £10,000 a year; and if we assume that a child spends 7 years there it is realistic to expect the total cost per child to approach £100,000 once you factor in additional costs such as uniforms, books and trips.