In this episode of The Legal Rabbit Hole, Charlotte Day and Megan Lovell dive into the practical and legal steps required when someone passes away. This essential conversation covers everything executors need to know, from locating the Will to obtaining probate and administering an estate. Charlotte and Megan share their expert insights, answer common client questions, and provide advice on how to navigate this challenging time with clarity and confidence.

Key Takeaways

· Initial steps after a death: The importance of obtaining a death certificate, verifying the identity of executors and ensuring confidentiality.

· Responsibilities of executors: Collecting information about assets and liabilities, applying for a Grant of Probate and administering and distributing the estate.

· Funeral wishes and family dynamics: Discussing funeral wishes included in a Will and handling sensitive family situations and claims against the estate.

· Navigating probate: Understanding the process of obtaining a Grant of Probate. Identifying when probate is required based on the size and nature of the estate and common delays and how to overcome them.

· Addressing challenges: Protecting executors from liability through Trustee Act notices and searches for missing assets or wills and managing situations where trusts are created in a Will.

· Practical tips for executors: Keeping key documents organised and accessible, handling digital assets, such as cryptocurrency and online accounts and conducting due diligence.

· The value of professional advice: Why seeking help from solicitors can save time, reduce stress, and ensure accuracy and balancing personal grieving with the responsibilities of estate administration.

Resources Mentioned

Timms Solicitors : For further questions reach out to Timms Solicitors via their website, email at legal@timms-law.com or call freephone 0800 011 6666.

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In this episode of The Legal Rabbit Hole, hosts Charlotte Day and Megan Lovell delve into the critical issues surrounding homemade Wills. They discuss why drafting a Will without professional legal advice can lead to significant problems, including disputes, unintended tax consequences, and the failure to carry out the deceased's wishes.

Key Takeaways

· What is a homemade Will: Explanation of Wills created without solicitors’ guidance and why they are often problematic.

· Common pitfalls of homemade Wills: Missing dates or incorrect wording, the use of generic templates or pre-filled kits that lack nuance and precision and issues caused by physical alterations.

· Real-life examples: A case where the phrase "I wish" led to inheritance tax complications and a case where a Will was taken apart by a bank for copying, raising concerns about tampering.

· Why legal advice matters: The importance of clear and enforceable language in Wills. The role of a solicitor in assessing testamentary capacity and preventing undue influence. Additional steps solicitors take to minimise disputes post death.

· The Impact of COVID-19: How the pandemic increased the prevalence of homemade Wills. Long-term risks associated with last-minute and DIY estate planning during the pandemic.

· Best practices: Why professional guidance ensures your wishes are carried out. Steps solicitors take to make Wills as "watertight" as possible.

Resources Mentioned

Timms Solicitors : For further questions reach out to Timm's Solicitors via their website, email at legal@timms-law.com or call freephone 0800 011 6666.

If you're considering drafting a Will or updating your estate plan, contact Timms Solicitors to ensure your wishes are carried out with precision and legal certainty.

Don’t miss an episode of The Legal Rabbit Hole! Subscribe on your favourite podcast platform and leave us a review to let us know what you think.

In this episode of The Legal Rabbit Hole, Charlotte Day and Megan Lovell demystify the complex topic of inheritance tax (IHT). From the basics of inheritance tax thresholds to advanced strategies for minimising a tax liability through gifting and allowances, this episode is packed with actionable advice to help you plan for the future. Whether you're navigating your own estate planning or helping a loved one, you'll gain valuable insights to make informed decisions.

Key Takeaways

· What is inheritance tax: Common misconceptions and initial reactions from clients.

· Inheritance tax thresholds and allowances: The different thresholds available and how they can be claimed and transferred within a marriage.

· What is gifting: annual gifting allowances and utilising unused allowances from previous years. Impact of large gifts on inheritance tax liability. The seven-year rule and exemptions and other allowances.

· Pitfalls to avoid: Risks of transferring a primary residence to children during your lifetime. Why this strategy can trigger significant tax and legal complications.

Resources Mentioned

Speak to a Solicitor about your estate planning needs.

Government resources for inheritance tax thresholds and allowances.

Timms Solicitors : For further questions reach out to Timm's Solicitors via their website, email at legal@timms-law.com or call freephone 0800 011 6666.

Don’t miss an episode of The Legal Rabbit Hole! Subscribe on your favourite podcast platform and leave us a review to let us know what you think.

In this episode of The Legal Rabbit Hole, hosts Charlotte Day and Megan Lovell from the Wills and Probate team discuss the concept of trusts, focusing specifically on Wills and the various types of trusts that can be established through them. They cover essential topics such as age contingencies, life interest trusts, discretionary trusts, and disabled persons trusts.

Key Takeaways

· Age Contingencies: The legal age for inheritance is 18, but parents can set a higher age limit (commonly 21 or 25) for their children to inherit their share of the estate. This allows for better financial management.

· Life Interest Trusts: These trusts protect a deceased person's share of property from being redirected to new spouses or used for care fees, ensuring that children from previous marriages are provided for.

· Discretionary Trusts: These trusts allow for a pool of beneficiaries without guaranteeing a specific amount to any of them. They are beneficial for protecting assets from beneficiaries who may have financial difficulties or are going through divorce.

· Disabled Persons Trusts: Designed for beneficiaries with disabilities, these trusts provide financial support without affecting any means-tested benefits.

Resources Mentioned

Importance of regularly reviewing trusts to ensure compliance with changing laws and the beneficiary's eligibility for benefits.

Timms Solicitors : For further questions reach out to Timm's Solicitors via their website, email at legal@timms-law.com or call freephone 0800 011 6666.

Don’t miss an episode of The Legal Rabbit Hole! Subscribe on your favourite podcast platform and leave us a review to let us know what you think.

In this episode of The Legal Rabbit Hole, hosts Charlotte Day and Megan Lovell from the Wills and Probate team discuss the critical concept of Powers of Attorney (POA). They explain what a Lasting Power of Attorney is, the different types available, and the importance of having one in place to make decisions on your behalf in case of incapacity.

Key Takeaways

· A Lasting Power of Attorney is a legal document that allows you to appoint someone you trust to make decisions for you if you lose mental capacity or if you have mental capacity but need assistance.

· There are two main types of Lasting Powers of Attorney:

Lasting Power of Attorney for Property and Financial Affairs: Allows Attorneys to make financial decisions, such as paying bills, managing and accessing bank accounts, and buying and selling property.

Lasting Power of Attorney for Health and Welfare: Enables Attorneys to make decisions about your health and welfare such as your care and living arrangements, or to make decisions about medical treatment, including life sustaining treatment if there comes a time when you are unable to do so.

· It is essential to choose trustworthy Attorneys, often family members, who will act in your best interests.

· Lasting Powers of Attorney must be correctly signed and registered to be valid and capable of being used. The process can take time, making it crucial to set them up early.

· If someone loses capacity without a Power of Attorney in place, family members may need to go through the Court of Protection to obtain a deputyship order, which is more time-consuming, costly and burdensome.

Resources Mentioned

The role of certificate providers in confirming the capacity and understanding of the person creating the Power of Attorney.

Timms Solicitors : For further questions or to discuss your own Power of Attorney needs, reach out to Timm's Solicitors via their website, email at legal@timms-law.com or call freephone 0800 011 6666.

Don’t miss an episode of The Legal Rabbit Hole! Subscribe on your favourite podcast platform and leave us a review to let us know what you think.

In this episode of The Legal Rabbit Hole, hosts Charlotte Day and Megan Lovell from the Wills and Probate team at Timms Solicitors delve into the crucial topic of Wills and their significance in estate planning. They discuss what a Will is, the roles of executors, and the importance of appointing trustworthy individuals. The episode also covers the implications of dying intestate, the effects of marriage and divorce on Wills, and the necessity of regularly reviewing your Will.

Key Takeaways

· A Will is a legal document outlining your wishes after you pass away, including the appointment of an executor.

· Executors are responsible for managing your estate, including organising your funeral and distributing assets.

· It is vital to appoint someone you trust as your executor, whether that’s a family member or a professional.

· Wills can also be used to appoint Guardians for your children

· You can use your Will to set out your funeral wishes, although these will not legally binding.

· Failing to create a valid Will can result in you dying ‘Intestate’, where the Rules Intestacy will decide how your estate is divided and to whom.

· Marriage automatically revokes a Will so it’s important to create a new one or make one in contemplation of an upcoming marriage. Divorce can also impact your Will, but it won’t automatically revoke it.

· Regularly reviewing and updating your Will is essential to ensure it reflects your current wishes and circumstances.

Resources Mentioned

National Will Register: A registry that helps ensure that your Will is found and utilized after your passing.

Timms Solicitors : For further questions reach out to Timms Solicitors via their website, email at legal@timms-law.com or call freephone 0800 011 6666

Don’t miss an episode of The Legal Rabbit Hole! Subscribe on your favourite podcast platform and leave us a review to let us know what you think.

Welcome to the final episode of our first season of The Legal Rabbit Hole. In this podcast, we join Fiona Moffat and Adrian Rose to explore how exactly you go about getting divorced.

In this episode, Fiona takes a nostalgic look back at old divorce processes, while Adrian brings us up to speed on the latest advancements. You’ll explore the shift from the old 5 facts to prove a breakdown of marriage to the new laws and how they function. Gain a comprehensive understanding of the divorce process, including timelines and the important 20-week waiting period.

You’ll discover valuable tips for planning and avoiding unnecessary delays. Last but not least, Fiona and Adrian delve into the essential aspects of understanding risk and finances in divorce proceedings. Tune in for expert insights and guidance.

Topics discussed:

• Fiona gets nostalgic about old divorce processes
• Adrian brings us up to date on the latest divorce processes
• The old 5 facts to prove a breakdown of marriage
• The new laws and how they work
• How the divorce process works and timings
• Your 20-week waiting period and what you should do with that time
• Planning to avoid needless delays
• Understanding risk and finances
• How to get divorced

Resources mentioned:

• Timm's website

Welcome to the fourth episode of The Legal Rabbit Hole with Fiona Moffat and Adrian Rose. In this podcast, we explore everything related to parenting your children after your divorce.

In this episode we cover the terminology surrounding child care arrangements, ensuring effective communication. We'll explore protecting children from adult disputes and respecting the rights of all involved in the process.

You will discover suggestions for uncooperative parties and ways to achieve a better arrangement, learn negotiation skills, differentiate between quantity and quality of time, and understand why people argue about their children.

Finally, Fiona and Adrian cover how to address allegations of abuse and navigate financial pressures. Plus, golden rules to follow and how to access helpful resources for your journey.

Topics discussed:

• Understanding the terminology surrounding child arrangements
• The need for children to be protected from adult disputes
• Respecting the rights of all those involved
• What to suggest if one side won’t allow access to children
• Getting a better arrangement
• How to deal with negotiations
• The difference between amount and quality of time
• Why people argue about their children
• Dealing with allegations of abuse
• Dealing with financial pressures
• The golden rules
• Tips, tools & resources to help navigate your journey

Resources mentioned:

• CAFCASS Resources
• The Parenting Plan
• OurFamilyWizard
• AppClose