03 Nov

The majority of Britons have not written a will according to research out today from the Law Society.

The representative body for solicitors has now warned that the consequences of dying without a valid will can be dire for those left behind.

The research revealed that 73 per cent of 16-54 year olds don't have a will, while 64 per cent of people over the age of 55 have made their final wishes clear in a will. The research also found that men are more likely to have a will and keep it updated than women. 

Source and the full article can be read at the Law Society

10 Sep
in Wills

When making a Will you may be asked by your Solicitor if you wish to make any provision in you Will for your personal chattels. But do you know what is included in the definition of chattels?

Personal chattels are:

carriages, horses, stable furniture and effects, motor cars and accessories, garden effects, domestic animals, plate, plated articles, linen, china, glass, books, pictures, prints, furniture, jewellery, articles of household or personal use or ornament, musical and scientific instruments and apparatus, wines, liquors and consumable stores. The definition does not include any of these items if they are used for business purposes and in addition does not include money or securities for money. So there you have it. When next discussing chattels you will know what is included.

10 Sep
in Wills

In the busy world that you live in it is sometimes difficult to find the time to address certain issues that really do make a difference. In the event of incapacity or death one of what I consider to be the 3 Must Haves is the Will.

You know it makes sense to have a Will. In a Will, you can, for example, provide for your family and friends or charities, appoint people of your choice to deal with everything on your death, appoint guardians for your minor children and record your funeral arrangements.

If you do not have a Will the law lays down who should inherit your estate but do you know who that will be? You may think that you do not need to make a Will because you have no relatives or are too young (in other words you think you are invincible). Well, you are never too young to make a Will (it is not just the preserve of the aged) and if you have no relatives do you not have friends or charities that you would wish to leave your estate to?

When you leave your loved ones behind, to grieve and to adjust to life without you, the least you can do is make sure that your affairs are in order and a Will is part of that order.

10 Sep
in Wills

In the busy world that you live in it is sometimes difficult to find the time to address certain issues that really do make a difference. In the event of incapacity or death one of what I consider to be the 3 Must Haves is the Information Log. So you are a tidy person and your Attorneys, if you have a LPA, or your executors, if you have a Will, will be able to find all your papers and important documents. Great, their job will be so much easier.

But what if you are not as tidy as you might be? And let’s face it this is probably the preserve of the aged who may have time on their hands to become tidy.
Just to be quite clear this is nothing to do with having a tidy house.

It is to do with making sure that, in the event of your incapacity or death, those that need to can find all your important documents, for example, bank books, investment certificates, dividend counterfoils etc. And in this digital age, and as you go more paperless, much of the important information you have is held on your computer.

One way to help being tidy is to have an Information Log in which you detail all your assets and liabilities, details of your advisers, passwords, location of important documents etc. The Log can be written out or better still held electronically and amended when there are changes. However, make sure that someone trustworthy has access to the password on your computer or all this hard work will be for nothing!