http://www.jancookwillsandtrusts.co.uk/blog/ The latest Blog feeds from www.jancookwillsandtrusts.co.uk en-us Sat, 26 Feb 2022 12:08:28 +0000 Rocketspark http://www.jancookwillsandtrusts.co.uk/blog/post/15900/will-your-beneficiaries-inherit-equally/ Is it ever OK to leave your children unequal inheritances?  On the face of it it may make perfect sense if you have one child who is financially secure, with a high-flying career and earning a six-figure salary.  However, circumstances change and this is yet another example of when people decide to predict the future when drawing up their wills and feel that they know exactly what the circumstances are going to be for everyone involved at the point when they pass away. Sometimes i... Wed, 26 Jan 2022 10:58:13 +0000 http://www.jancookwillsandtrusts.co.uk/blog/#post15900 http://www.jancookwillsandtrusts.co.uk/blog/post/15774/dont-put-off-that-awkward-chat-about-inheritance/ It can be a shock for people to discover, only on the death of their parents, that they have effectively been disinherited and it can seem like the ultimate cruel shock.  Often there is no obvious reason why the decision was taken which makes it even more difficult for potential beneficiaries to understand. The UK is different from many other countries in that you are allowed to die with millions in the bank and not give a penny to your child.  In France, by law, you have to give your ... Tue, 04 Jan 2022 15:35:21 +0000 http://www.jancookwillsandtrusts.co.uk/blog/#post15774 http://www.jancookwillsandtrusts.co.uk/blog/post/15410/delays-add-to-the-pain-of-getting-power-of-attorney/ Delays and complications mean that it is taking up to 20 weeks to set up powers of attorney. The process is lengthy and can be hard to navigate, and families often have their applications rejected. There is hope, however, that the system for granting lasting powers of attorney is about to become easier. The government says that the system needs updating, and the Ministry of Justice and Office of Public Guardian (OPG) are speaking to banks and legal firms to find ways to make the process better. ... Mon, 25 Oct 2021 10:18:24 +0100 http://www.jancookwillsandtrusts.co.uk/blog/#post15410 http://www.jancookwillsandtrusts.co.uk/blog/post/15383/where-theres-a-will-and-a-couple-of-marriages-things-get-complicated/ With blended families on the rise, so are inheritance rows.  Blended families are those where people have multiple marriages and children with different partners, meaning step-parents, stepchildren, divorced parents and siblings with large age gaps are all part of the family setup. These disputes are on the rise.  In 2020 there were 192 cases taken to the High Court by individuals claiming to be entitled to part of an estate.  This was up 50% from the 128 heard just 2 years previo... Thu, 21 Oct 2021 10:39:28 +0100 http://www.jancookwillsandtrusts.co.uk/blog/#post15383 http://www.jancookwillsandtrusts.co.uk/blog/post/14850/challenging-a-will/ The latest data from the Ministry of Justice shows that Will disputes are rising.  A Will can be challenged on the basis that it is invalid for any of the following reasons: The Will has not been correctly executed - Normally a Will must be in writing (handwritten or otherwise) and must be signed by the person making the Will in the presence of two witnesses. It must then be signed by the two witnesses, in the presence of the person making the Will, after she or he has signed. As a con... Wed, 04 Aug 2021 13:10:05 +0100 http://www.jancookwillsandtrusts.co.uk/blog/#post14850 http://www.jancookwillsandtrusts.co.uk/blog/post/14839/flexible-life-interest-wills-and-trusts/ The use of trusts is becoming more familiar in estate planning but - are all trusts equal? One of the more common trusts is a Flexible Life Interest Trust which we don't actually offer. When clients tell me that they already have a trust, or they can get the same thing cheaper elsewhere, a little bit of digging usually informs me that this just isn't the case. What they have, or are being offered, is not the same type of trust at all and does not give anywhere near the level of protection that w... Mon, 02 Aug 2021 17:31:37 +0100 http://www.jancookwillsandtrusts.co.uk/blog/#post14839 http://www.jancookwillsandtrusts.co.uk/blog/post/14833/funding-of-long-term-care/ When families are faced with a loved one needing long term care they are usually highly emotional, extremely stressed and feeling quite vulnerable.  Those feelings are often compounded by the way they are treated by the systems they face to secure care; those involved in the processes; and also a lack of accurate information by the health-care professionals involved.  At these times families need help and support more than ever before! Unfortunately many legal and financial p... Mon, 02 Aug 2021 12:38:20 +0100 http://www.jancookwillsandtrusts.co.uk/blog/#post14833 http://www.jancookwillsandtrusts.co.uk/blog/post/14474/how-to-sign-your-will-correctly/ Your will contains instructions about who should benefit from your estate in the event of your death, including any gifts you want to make to loved ones or charity.It can name who should be guardians of your children, and who should look after your pets.A will becomes legally binding when you have signed it with two or more witnesses.  Under emergency legislation the witnesses do not need to be physically present: witnessing via online video chats is currently allowed although we wouldn't r... Mon, 07 Jun 2021 11:19:23 +0100 http://www.jancookwillsandtrusts.co.uk/blog/#post14474 http://www.jancookwillsandtrusts.co.uk/blog/post/14392/dad-wanted-us-to-inherit-300k--all-we-got-was-his-old-tie/ Extended families and inheritance can be a toxic brew, particularly if mirror wills are involved.Mirror wills are commonly used by married couples who intend to leave everything to each other, and then apportion wealth to their children when the other dies.  They are also useful for second marriages, where the parents wish to leave money to their children and stepchildren, so that no one is left out because of a new relationship.However, mirror wills are not binding and can lawfully be chan... Thu, 27 May 2021 10:43:07 +0100 http://www.jancookwillsandtrusts.co.uk/blog/#post14392 http://www.jancookwillsandtrusts.co.uk/blog/post/14243/cross-option-agreements/ Cross Option Agreements are sometimes also referred to as Double Option Agreements or Company Wills.  Their purpose is to grant options to each party on the death of a shareholder ie the deceased's 'estate' and the continuing shareholder(s).   Just leaving a legacy of the shares to the co-shareholders in a Will could result in the family missing out, whereas leaving the shares to the deceased's family in the Will could result in both the family and the co-shareholders missing out!... Mon, 17 May 2021 12:56:12 +0100 http://www.jancookwillsandtrusts.co.uk/blog/#post14243