Life Interest Trust Wills: Securing Your Legacy and Benefiting Your Loved Ones
A Life Interest Trust Will is a valuable estate planning tool for married couples looking to safeguard their assets - typically their main residence - and provide for their loved ones. It is probably the most popular type of Will with our clients. This type of trust,...
Grants of Probate: Understanding When They Are Required and When They Are Not
Dealing with the estate of a deceased person can be a complex process. One of the most common legal requirements is the need for a Grant of Probate. This document gives the executor of a Will the authority to manage and distribute the deceased person’s estate in...
Is this the season to be gifting?
Lifetime gifts can not only be a valuable tool for reducing inheritance tax (IHT), but also handy for providing financial support to loved ones. However, the rules surrounding these gifts can be complex. Understanding their implications is crucial for effective...
Top 10 Mistakes by Attorneys acting under a Lasting Power of Attorney
A recent article on the BBC website highlighted the dangers of appointing unsuitable attorneys under Lasting Powers of Attorney. A Lasting Power of Attorney (LPA) is a legal document that allows a person (the donor) to appoint one or more individuals (known as...
Estate Planning: Our Approach
At Four Oaks Legal Services, we believe that a holistic approach to estate planning is essential for providing maximum value to our clients. By collaborating closely with other professionals, such as Independent Financial Advisors (IFAs) and accountants, we enhance...
The Challenges of Being an Executor and How Solicitors Can Help
Being named as an executor in someone’s Will can seem like an honour, but it is a responsibility that can quickly become overwhelming. Executors are tasked with navigating a complex maze of legal, financial and administrative duties, often under the pressure of...
Farming at Risk? The challenges of Agricultural Estate Planning following the Budget…
The recent Budget introduced significant reforms that directly impact estate planning, especially for agricultural and rural businesses. A major change was the reduction of Agricultural Property Relief (APR) and Business Property Relief (BPR), which now caps 100%...
Safeguard Your Business: Why a Business LPA is Essential
Protect Your Business with a Business LPA: Key Benefits A Business Lasting Power of Attorney (LPA) is a crucial legal tool for business owners, empowering trusted individuals, known as “attorneys,” to make decisions if the owner becomes incapacitated. Unlike personal...
Top 5 Costly Mistakes in DIY Probate
Handling probate and estate administration without professional guidance can expose executors and personal representatives (PRs) to significant risks including personal liability. Here are the top five common mistakes that lead to these liabilities. 1....
Estate Planning with Heart: The Benefits of Vulnerable Persons Trusts in Wills
A Vulnerable Persons Trust (VPT), also known as a Disabled Person’s Trust, is a legal structure specifically designed to protect the financial interests of individuals who may be vulnerable due to a physical or mental disability. In the context of estate planning,...
Top 5 reasons to avoid DIY Lasting Powers of Attorney
DIY Lasting Powers of Attorney can often be problematic. Unlike Wills, mistakes with LPAs cannot be easily amended. Here are the Top 5 reasons why it is advisable to have a Lasting Power of Attorney drafted by a professional. Avoiding Errors and Delays LPAs must meet...
The Budget and the growing squeeze on Property Owners
The first Budget by Chancellor Rachel Reeves extends the freeze on inheritance tax (IHT) thresholds to 2030. With rising property prices, this freeze could mean more families face an IHT bill in the future. Given that property prices generally double every 10-15...