Posts tagged “property”

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Why property ownership matters for your Will

Posted on 12th November 2021
The ownership of your home can affect who can inherit it when you die.
In a recent High Court case a widow was awarded £80,000 from her brother-in-law’s inheritance following a dispute over property ownership. Here’s what happened. 
 
Her husband has made a Will leaving his estate in full to her. However, after his death, there was a dispute concerning the family home that she had shared with him. The property was registered to her husband and his brother. It had been owned by their mother until she died in 2009, but it wasn’t clear whether the brothers held the property as joint tenants or as tenants-in-common. 
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Understanding the care home fees cap

Posted on 30th September 2021
In 2014 the Care Act introduced a ‘care cap’ of £72,000 on the total you would be liable to pay for your care costs. It came in to effect in April 2020. 
 
However, most people will have to spend much more before the cap is reached; often over £140,000. 
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What happens to bank accounts when someone dies?

Posted on 11th May 2021
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. 
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What Claudia’s law means when someone is missing

Posted on 27th April 2021
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
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Executors must keep good records

Posted on 23rd March 2021
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. 
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