By Marlene Garsia
Crucial studying for an executor and a person considering making or updating a will, "How to write down Your Will" is stuffed with specialist suggestion and easy-to-use info set out in jargon unfastened language. It covers the entire very important matters, together with: why to jot down a will; the place to begin; tax and felony concerns; and the issues of death intestate. It additionally offers particular directions for executors on valuing and administering an property sooner than winding it up. totally revised to incorporate all new alterations to tax legislation and new legislation that contain bedding down classes for trusts, "How to put in writing Your Will" now gains a longer bankruptcy on documentation with extra assist in disseminating profit, a 'how to' part and an evidence of the files themselves. filled with necessary info, sensible examples and FAQ's, it's the whole advisor to wills and probate.
Read or Download How to Write Your Will: The Complete Guide to Structuring Your Will, Inheritance Tax Planning, Probate and Administering an Estate PDF
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Additional info for How to Write Your Will: The Complete Guide to Structuring Your Will, Inheritance Tax Planning, Probate and Administering an Estate
A proposed simplification in dealing with the Registries has been introduced. As an executor you have to present yourself to the Registrar and swear that the information is correct; in the future it is understood that ‘a statement of truth’ will replace the oath, although personal attendance will still be necessary. Some changes affect legal status in the form of civil partnerships. For example, a new bill will allow gay partners who died intestate to have their surviving partner named as administrator of the estate and to receive assets from the estate as if they had been married.
The Treasury estimated that only £15 million would be gained in tax by these measures, but professional advisers estimate that the figure is closer to £200,000 million. It appears that the professional advisers’ figures will be the closest. The readers who use this book will find it helpful in all relevant aspects. It is not meant as a definitive book on all subjects covered where all possible questions are asked and answered as that would require volumes of text and pages and a number of experts in different subjects.
You should inform your executor(s) where it will be kept. Indeed, it may be prudent to leave a copy of it with your solicitor or at your bank. If you die without leaving a will then the laws of intestacy apply to your estate. This means that your estate is divided between your lawful spouse and your surviving blood relatives according to specific rules laid down by Parliament. If there are no living relatives, once an extensive search has been undertaken, your money goes to the Crown. This surely must be reason enough for ensuring that you make out a will!