This document discusses intestacy rules and the importance of having a will. It provides 6 case studies that show how one's estate would be distributed without a will based on their marital status and whether they have children or other relatives. The document recommends making a will so one can choose who receives their money and assets. It addresses common reasons for not having a will, such as being too young or that it is too expensive, and provides options for creating an inexpensive will.
Contesting a will can be expensive. If you have ever received any kind of maintenance from the deceased or in fact, immediately before the death, you should remember some most important things for contesting a will that exploring here.
Contesting a will can be expensive. If you have ever received any kind of maintenance from the deceased or in fact, immediately before the death, you should remember some most important things for contesting a will that exploring here.
THREATS FROM YOUR SPOUSE YOU SHOULD IGNORE IN DIVORCE CASES by Joel H. Feldman. Joel H. Feldman, raised in Kingston, New York, moved to Boca Raton in 1979, where he has practiced law for over 35 years. His practice is largely focused on family law and litigation.
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THREATS FROM YOUR SPOUSE YOU SHOULD IGNORE IN DIVORCE CASES by Joel H. Feldman. Joel H. Feldman, raised in Kingston, New York, moved to Boca Raton in 1979, where he has practiced law for over 35 years. His practice is largely focused on family law and litigation.
http://www.feldmanlawoffice.com/
Bringing a favorable solution family lawyers’tansygeoffery
"Family lawyers in Largo, Maryland provides solutions to daunting and sensitive issues that arise between family members.
• They handle issues that involve family members, including split ups, domestic financial disputes, negotiations and lawsuits
"
Sari Friedman Lawyer - Brief Introduction and Explanation about Famiy Laws Sari Friedman & Friedman
Sari Friedman Lawyer has published many articles on divorce law, family law matters and achieved many awards. Family law matters include divorce cases, child custody, adoption, etc.. Some relations need legal identities like marriage and adoption. We require a proper legal papers as a proof for these relations. Family law expert and divorce expert Sari Friedman Lawyer are explaining the procedures that we need to follow in divorce cases.
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How to start reducing your Inheritance Tax (IHT) liability.
Making a will
1. Investors in Values
LWM Consultants Ltd.
Ensuring your wealth is protected….
making sure you have a will
2. Intestacy rules
“Without a will, the law decides who gets what –
wishes or promises are worthless and who get‟s what is
determined by intestacy rules….intestacy rules do not
recognise „common law partners‟ and „step-
children‟”
3. Case study one
Lawful spouse or civil partner (i.e. you are legally
married), plus children
• If your estate is worth less than £250,000 then your
spouse or civil partner would get everything
4. Case study one
Lawful spouse or civil partner (i.e. you are legally married),
plus children
• If your estate is worth more than £250,000 then your
spouse or civil partner would get £250,000 and a life
interest (i.e. the right to take interest in the remainder,
but not the capital itself) in half of anything over this sum
• Your children would get the remaining half of the sum
over £250,000 immediately and be entitled to the other
half on the death of your spouse
• Should any of your children die before you then their
children would be entitled to take their parent’s share
5. Case study two
Lawful spouse or civil partner (i.e. you are legally
married), no children, but
parents/brothers/sisters/grandparents/aunts/uncles
• If your estate is worth less than £450,000 then your
spouse or civil partner would get everything
6. Case study two
Lawful spouse or civil partner (i.e. you are legally
married), no children, but
parents/brothers/sisters/grandparents/aunts/uncles
• If your estate is worth more than £450,000 then your
spouse or civil partner would get £450,000, plus half
the balance
• Remaining balance goes to other relatives in this
order of priority – parents; brothers/sisters; half
brothers/sisters; grandparents; aunts/uncles; spouses
of aunts/uncles
7. Case study three
Lawful spouse or civil partner (i.e. you are legally
married) and no other relatives
• If your estate is worth less than £450,000 then your
spouse or civil partner would get everything
• If your estate is work more than £450,000 and you
have no other surviving relative (e.g. children,
grandchildren, parents), then your spouse or civil
partner would still get everything
8. Case study four
If you are not lawfully married, but have had children
• Your estate will be shared between the children i.e.
your common law partner will receive nothing
• Should they die before you then their children
would take their share
9. Case study five
If you are not lawfully married, have no children, but
have parents or have had
brothers/sisters/grandparents/aunts/uncles
• Your estate will be shared amongst them i.e. your
common law partner will receive nothing
• The order of priority will be – parents; brothers/sisters;
half brothers/sisters; grandparents; aunts/uncles;
spouses of aunts/uncles
• If any of these have predeceased, but have living
children then the children will take their parent’s
share
10. Case study six
If you are not lawfully married, and have no other
relatives
• Your estate will go to the Crown i.e. your common
law partner will receive nothing
11. Should you make a will?
• Consider the case studies, if these apply to you then
the answer is YES
• Other reasons to consider:
o You choose who receives your money
o If you have assets over £325,000 , there are simple things that can be
done during your lifetime and under your will to reduce or negate any
inheritance tax liability
o If you have children you can appoint guardians who will be responsible
for your children’s upbringing, i.e. you can appoint someone you can trust
12. Common reasons for not
having a will….
• Too young – if you are are old enough to drink and
vote, you have money and you want to leave your
money to someone you love, then you are not too
young
• It’s too expensive – it doesn’t have to be expensive,
you can draw up your own will, you can go to a
solicitor or a professional will writer
• It’s time consuming – it doesn’t have to be,
particularly with the aid of computers
• It’s too morbid – although depressing, we will die
eventually and making a will won’t kill you!
13. Next step….
• During November 2011 visit -
http://www.willaid.org.uk/ - pay £85 for a simple will
and this will go to charity
• Alternatively you can purchase a DIY will kit, some
of these are free (just search on online)
• Visit a family solicitor
• Or, find a professional
will writer – for example
visit http://www.ipw.org.uk/
14. Any reference to other companies is not a recommendation, and we
cannot guarantee the service that they offer. The information contained in
this presentation is based on our understanding of the law. Changes can
occur and therefore we recommend that you check with legal professionals
if there is anything you are not sure about. LWM are not qualified legal
professionals, this presentation has been purely developed to highlight a
need.
LWM Consultants Ltd is an appointed representative of Sense Network
Limited, which is authorised and regulated by the Financial Services
Authority. Registered in England and Wales under Company Number
07408315. Registered Office: St John’s Court Whiteladies Road Bristol BS8 2QY