Entries by Casey & Associates

What is a Letter of Wishes?

When writing a Will, it’s important that you get your wishes down for who should be appointed as executors, trustees or guardians and how your estate should be distributed in a binding fashion. But what about your more general wishes for your estate, or for your children? There are so many uses for a “letter […]

The risk of miscalculating Inheritance Tax due to HMRC

The Telegraph reported that ordinary individuals inheriting assets from overseas could risk criminal charges if they miscalculate the tax owed. New legislation was introduced in 2016 which meant that beneficiaries who inherit offshore money could see their income wiped out completely due to new penalties and punishments. The clampdown is part of HMRC’s latest attempt […]

Inheritance Tax could be simplified

It is expected that there could be some changes to simplify Inheritance Tax this year or next year. In November 2018, the Office of Tax Simplification (OTS) released their first report following a review of the current Inheritance Tax system. The Chancellor requested the review and the OTS provided recommendations to simplify Inheritance Tax from […]

What happens to property when someone dies?

“What happens to a property when someone dies?” is a very popular question and it’s important that we all understand the answer when it comes to estate administration. When someone passes away, the responsibility of the property automatically falls to the Executor (when there’s a Will) or the Administrator (when there’s no Will). This means […]

Prince’s estate: the long legal battle

The iconic musician, Prince, died at his home in April 2016 without having made a Will. The singer was twice divorced and had no children or surviving parents. It took 12 months to determine his legal heirs. These being his sister and five half-siblings, as declared by a District Judge in Minnesota. His assets included properties and the rights to […]

Estate decimated by legal fees

Did you read the report in The Times regarding a couple who were faced with an exorbitant legal bill of £115,000 which was ‘removed’ from a modest £300,000 estate. The deceased, the father of Paul Cutler, 47, had appointed a solicitor as the executor of his estate in his Will. Mr Cutler was alarmed to […]

Are you in a second marriage?

All names are changed to protect client identity. One of our consultants met Mr & Mrs Green recently. Both are in their second marriage and both first marriages ended in divorce. Mr Green has two children (Andrew and Belinda) from his first marriage. They are in their late twenties and had “left home” when Mr […]