Gifts to Charity in a Will – are they a smart financial move?
Gifting to charity in your Will is a meaningful way to support causes that matter while also benefitting from financial and legal advantages. Individuals and businesses can take advantage of tax relief provisions, inheritance planning opportunities and the...
Is your Will automatically revoked when you get married?
Many people are unaware that a perfectly valid Will is automatically revoked upon marriage. This legal principle, rooted in the idea that marriage significantly alters a person’s financial and personal obligations, can have consequences for estate planning....
Landmark Guidance Issued by The Society of Will Writers on Asset Protection Trusts Advice – A Major Win for Consumers and Estate Planning
Family Trusts, particularly Asset Protection Trusts (APTs) or Family Protection Trusts (FPTs), are often marketed as a way to shield assets from care home fees, creditors and inheritance tax. However, without expert legal guidance, these products can be mis-sold,...
Trusts Without Trustees : A Case Study
As a qualified Trusts and Estates Practitioner and Director at Four Oaks Legal Services, I frequently encounter Trusts that require not only legal expertise but also an understanding of the needs and financial implications for all parties involved. A recent case...
Beware of Gifts with a Reservation of Benefit if your home is in a Property Trust
In our previous article, we discussed the benefits of Life Interest Trusts. However, not all Trusts carry the same advantages. Placing a property, especially your main residence, "into Trust" may be far from ideal for numerous reasons. There are strict rules relating...
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%...