Legally binding mutual wills might seem like a good way to ensure your wishes are protected, but in practice they can be inflexible and contentious. Here’s why we don’t recommend them, along with what we often advise instead.
There are many different factors you’ll need to consider if you’re responsible for administering an estate. Some of these will be things you’re already aware of, others may not. Many people don’t realise that tax can come due on an estate during the administration process.
If you’re responsible for administering an estate, your task may be made more complicated depending on the employment status of the person who has died. In many cases, the individual will have been retired at the time of their death, but if they were still working, there are likely to be some loose ends to be tied up in this respect.
If you’re currently responsible for administering an estate and you think there is a need to apply for double probate, you might be unsure about how to navigate this. It may be helpful to speak to a specialist probate solicitor who can help you to untangle the situation and advise on the next steps.
Most people are aware of inheritance tax and the added complications it can bring to the process of administering an estate. This type of tax does not need to be paid on all estates, just those that are worth over a certain threshold.
Family relationships are not always straightforward. This can be because of a huge range of reasons, from blended families to personality clashes to perceived injustices. Whatever the individual circumstances, sometimes, even small tensions can become magnified when it comes to the issue of what will happen to an estate after a death.
There has recently been an update to the amount that can be passed on in a statutory legacy. This is the amount an individual can receive from their spouse’s estate if their spouse dies without leaving a Will. Find out how this could affect you on our blog.
If the time comes when it feels right to apply for a declaration of presumed death for a missing person, you will need to gather a range of evidence for the application.
Being appointed as a guardian on behalf of a missing person is a big responsibility. If you’re in the process of applying for guardianship, you might want to consider what your first steps will be if you’re appointed.
All kinds of challenges can arise in the process of administering an estate. If you’re unable to locate some of the beneficiaries, it can be a significant issue.
