Insuring against low-risk, high-impact events
I was listening to an episode of the Afford Anything podcast recently, in which presenter Paula Pant interviewed Morgan Housel, the author of The Psychology of Money. Inspired by the death of two friends as a teenager, Housel talked about ‘tail risks’, that is things that are low-risk, but high-impact. Listening to this reminded me […]
“What is a Will?” The answer may be changing…
The Wills Act of 1837 states that a Will must be in writing, and signed by the person making it (or someone they direct to sign for them) in front of two witnesses who also sign. The person’s signature must appear to be signifying that they want to make their Will valid. In practice, this […]
The consequences of not having Lasting Powers of Attorney
On the willwriting circuit you hear a few horror stories, but this one, from a training webinar I was on recently, might be one of the worst I’ve heard: Mr Willwriter writes wills for Mr and Mrs Jones (made-up name). He suggests they do Lasting Powers of Attorney (LPAs) too, but they don’t see it […]
Who are the best guardians for my children?
As a parent, watching children grow and learn is one of the great joys of life. But what if the worst were to happen, and your children were to lose both parents before they reach 18 – who would care for them? There are many factors to consider. Losing your parents at any age is […]
What is pre-paid probate?
Probate is a process that is often required when a person dies, before their relatives can deal with their property and distribute it as the deceased’s Will requires. If the person’s assets total more than £10,000 and/or they own property in their sole name, then probate is likely to be required. In most cases the […]
How often should I review my Will?
It is not unusual for us to be asked: “I wrote my Will a few years ago, how often should I review it?”. We advise our clients review their Wills regularly to ensure they are still suitable. We would certainly advise that you review your Will carefully before and/or after significant events in your life, […]
Dangers of a parent-child joint bank account
A newspaper recently published a letter from a lady whose father had died. On the face of things, the father’s will split everything evenly between his two children – the writer of the letter and her brother. However, before he died the man had added his son’s name to his savings account, with his daughter’s […]
Can I exclude a child from my Will?
The short answer is yes: when writing their Will, every person has the absolute right to leave their property to whomever they wish. The longer answer is yes: but care should be taken to prevent the child being able to successfully claim from the estate after their parent’s death. While most people will look to […]