August 2024 Many people in the UK don’t realise how much flexibility we have when it comes to writing our wills. This flexibility is called testamentary freedom, and it means that we are theoretically able to leave our estate to whoever we wish. Though there are some practical implications, generally speaking, the UK’s testamentary freedom …
What is Forced Heirship and How Might it Affect You? Read More »
July 2024 Many legal processes – whether that’s administering someone’s estate after their death, applying to act as someone’s power of attorney or taking legal action in a contentious case – can involve putting in applications to government bodies. The processing of these applications has always taken some time, but unfortunately it is currently requiring …
May 2024 In the time after someone dies, those closest to them will usually need to shoulder the responsibility of administering their estate. Depending on the financial circumstances of the person who has died, this may be a fairly straightforward task, or it could be very complicated. An estate is a collective term for any …
Do Personal Representatives Take on Legal Liability for Estates? Read More »
May 2024 The vast majority of estates will involve some kind of debt. This could be as simple as a few unpaid bills, or it could be a much more extensive issue. Typical liabilities might include: Almost all bills and liabilities will need to be addressed by the estate. The exception to this is any …
April 2024 It’s becoming increasingly common for individuals to own assets in more than one country. This includes property or land, as well as overseas bank accounts and investments. It can also encompass business interests. If you hold assets in more than one country, this is something you will need to take into account when …
Writing a Will with International Assets: What You Need to Know Read More »
April 2024 There are all kinds of factors to consider when you take on the task of winding up an estate. If the person who has died owned a business, you will need to take extra steps to ensure the additional legal obligations this entails have been met. We’ve previously shared advice on dealing with …
Administering the Estate of the Director of a Limited Company Read More »
March 2024 The process of winding up an estate can become particularly complicated if it encompasses assets in more than one country. This might be the case if the person who has died resided, owned property or had business interests overseas. If you’re acting as a personal representative (either as an executor or administrator) for …
Administering Cross-Border Estates: The Importance of Protecting Yourself Read More »
The question of debts owed to an estate can be made even more complicated when the debt is owed by someone who has been named as a beneficiary of the estate, an executor, or even both.
A Will is only valid if it has been properly signed in the presence of witnesses. Who the witnesses were is also important. If someone who is named as a beneficiary in the Will has acted as a witness, they will no longer be able to inherit from the estate.
Winding up the estate of someone who has died is always a big responsibility. However, there are certain factors that can make this task even more complex. One of those factors is whether or not the person who has died was a business owner.
