Posts tagged “property”

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What happens to bank accounts when someone dies?

Posted on 11th May 2021 at 10:32

When someone dies, a personal representative (PR) is appointed to manage their estate (money, property, and possessions). If the PR is named in their Will, they are known as the executor. Part of a PR’s role is to close any bank accounts, but sometimes this isn’t straightforward and there can be several challenges.

What Claudia’s law means when someone is missing

Posted on 27th April 2021 at 10:19

Claudia Lawrence, a chef at York University, went missing in 2009. In these circumstances the rule is that someone will be presumed dead when they have been missing for seven or more years.

Claudia’s father, Peter, Kevin Hollinrake MP, and the charity Missing People, campaigned for this rule to be changed. They argued that the family and friends of a missing person should be able to deal with their property and financial affairs before seven years have passed.

booklet with the title 'wish you were here' re Claudia's law

Can I leave cryptocurrrency in my Will?

Posted on 13th April 2021 at 10:06

Cryptocurrencies like Bitcoin or Ethereum are digital – they can be bought, spent, saved, and sold.

Unlike money you might have an a bank account, cryptocurrency is handled using computer technology known as ‘blockchain’.

People store cryptocurrency in a digital wallet and they must have virtual keys to access it.

Executors must keep good records

Posted on 23rd March 2021 at 12:02

If someone asks you to be an executor for their Will you will be responsible for making sure their estate is properly wound up and that their wishes are carried out.

There are legal responsibilities associated with being an executor, including:

registering the death

arranging the funeral

valuing the estate

paying any inheritance tax

applying for probate

resolving finances

distributing the estate

keeping estate accounts.

All the costs of administering the estate and receipts should be recorded.

How long will probate take?

Posted on 9th February 2021 at 11:22

We’re told that waiting times for grants of probate have now been reduced to around five weeks.

HM Courts & Tribunals Service (HMCTS) says that the number of grants issued each week is now higher than the number of applications being received.

If you apply for probate online, an option that was introduced in November last year, you should only have to wait around four weeks. If there aren’t any errors or omissions in the application, it could even be handled in a week.

If you submit the paper forms instead, you should receive your grant within eight weeks.

However, this is just the beginning of the process of administering an estate on behalf of a friend or family member.

Challenges to historic Wills

Posted on 18th November 2020 at 12:32

black and gold pen and Last Will and Testament

There are reports that challenges to historic Wills have increased by up to 400% this year.

In some cases, challenges are being made several years after an estate has been settled.

People are enquiring about the possibility of challenging the Wills of friends and family members, believing they have a claim to money or assets, although they weren’t declared at the time.

What is the Bereavement Standard?

Posted on 23rd October 2020 at 15:45

Some of the UK’s biggest banks, building societies and insurance companies are discussing how to improve services for bereaved customers.

More than 60 organisations, including major banks, intermediaries and brokers are involved in creating a new Bereavement Standard.

Caveat and probate

Posted on 9th October 2020 at 15:30

Did you know that a caveat can be used to prevent a grant of probate?

What could this mean for your friends and family?

What is a caveat?

A caveat is used to ask someone to suspend an action. In the case of your Will, it could be used to stop your executors obtaining a grant of probate. If you don’t have a Will, it could be used to prevent your family obtaining letters of administration.

Supporting relatives in care homes

Posted on 30th September 2020 at 14:34

During the coronavirus pandemic we have seen some upsetting examples of how elderly people have felt lost and abandoned when their families are unable to visit them in their care home.

This has been an exceptional time. In most cases your loved ones will be happy and well looked after in their care home, but it isn’t surprising that many families wanted to bring their relatives home during the outbreak.

Why use Angela Jane Will Writing?

Posted on 23rd May 2020 at 11:45

People are now more than ever realising that their affairs should be put in order. And with the situation as it currently is, there is a sharp rise in people suddenly jumping on the bandwagon and setting themselves up in their bedroom as Will Writers, offering cheap online Wills. So why should you choose someone like Angela Jane Will Writing over a online cheap will?