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10 Big Estate Planning Mistakes of the Rich & Famous
https://www.thinkadvisor.com/2014/03/13/10-big-estate-planning-mistakes-of-the-rich-famou/ #willing #willwriting Estate planning can be tricky, and for celebrities with mega assets, the stakes for heirs are enormous. It seems that mistakes are often made in writing wills and when they are, the tabloids have a field day as after the death of actor Philip Seymour Hoffman. “The…
10 Interesting Facts About Wills You May Not Know
https://buzzfinancial.co.uk/facts-about-wills/ #willing #willwriting A will is an important document and one that should be taken very seriously. It is your last will and testament and ensures that your wishes are carried out, and that your loved ones are taken care of, after you have gone. We take a look at…
Estate Planning: 16 Things to Do Before You Die
https://www.investopedia.com/articles/retirement/10/estate-planning-checklist.asp #willing #willwriting Complete this checklist to get your affairs in order When Aretha Franklin died intestate—without a legal will—in 2018, she joined a surprisingly long list of prominent people, including Prince, who did the same.By not preparing an estate plan, she complicated the task of settling her affairs for…
13 IMPORTANT QUESTIONS TO ASK WHEN CREATING YOUR ESTATE PLAN
https://internationalservices.hsbc.com/manage-wealth-abroad/13-important-questions-to-ask-when-creating-your-estate-plan/ #willing #willwriting If you got sick, or were unable to make important decisions, is there someone you trust to handle your affairs? Would your business continue to run smoothly and your family be provided for? Estate planning is about finding the best answers to these difficult questions. Let's take…
12 FAMOUS PEOPLE WHO DIDN’T LEAVE A WILL, INCLUDING PICASSO AND PRINCE
https://www.businessinsider.com/12-famous-people-who-died-without-will-picasso-prince-2023-8 #willing #willwriting A Michigan jury ruled in July that a document written by Aretha Franklin before she died was a valid will. She is among several celebrities who have died without a will, including Billie Holiday and Kurt Cobain. Without a will, celebrity estates often become embattled in lawsuits,…
12 OF THE MOST UNUSUAL CELEBRITY WILLS
https://uk.finance.yahoo.com/news/12-most-unusual-celebrity-wills-104700483.html #willing #willwriting Surprising and explosive legacies Most wills are pretty straightforward – but some people aren't content with simply leaving their money to their nearest and dearest when they die. From Marilyn Monroe to a comedian who made a romantic gesture from beyond the grave, read on to discover…
WILLS OF FAMOUS PEOPLE
https://issuu.com/sanantoniobar/docs/sal-marapr21-digital/s/11930484 #willing #willwriting You can learn a lot about a person by reading his or her last will and testament. Many famous people left a written will, and some of those wills shaped the course of history. Often, those who ruled great empires used their wills as a final act…
WEIRD AND WONDERFUL CELEBRITY WILLS
https://www.unbiased.co.uk/news/financial-planning/weird-and-wonderful-celebrity-wills #willing #willwriting Today we’re taking a peek at the bizarre and barmy wills of the rich and famous. We’ve long been fascinated with the rich and famous: their relationships, their style and their wallets. But what do they leave behind after the lights have gone down? That’s magic. Harry…
10 OF THE STRANGEST WILLS OF ALL TIME
https://www.theguardian.com/money/2015/aug/25/10-strangest-wills-finances-death #WillWriting #Legacy #EstatePlanning Leaving instructions for what should happen to your finances after your death is a serious matter – but for some the temptation to cause mischief or raise a smile from beyond the grave is too much to resist In the UK we are not very good…
WHAT HAPPENS TO A DECEASED PERSON’S MONEY AND POSSESSIONS?
https://www.citizensinformation.ie/en/death/the-deceaseds-estate/what-happens-the-deceaseds-estate/ #willing #willwriting Introduction When a person dies, their property passes to their personal representative. The personal representative then distributes the deceased's person’s assets (money, possessions and property) in accordance with the will - if there is one - or the laws of intestacy if there is no will. These…
WILL WRITING – A STEP BY STEP GUIDE
https://www.soteriatrusts.com/insights/will-writing/ #willwriting #willtowin Writing a will is an important part of ensuring that your assets and belongings are properly distributed after passing. It can be a daunting and overwhelming task if you don’t have all the necessary information—but it’s also one of the most crucial steps for ensuring that your…
HOW CAN DIY WILLS LEAD TO INHERITANCE DISPUTES?
https://www.thegazette.co.uk/all-notices/content/103355 #knowyourwill #willwriting The number of inheritance disputes reaching the High Court is rising dramatically, driven in part by increases in property prices which make estates worth more than ever; life expectancy is allowing wills to be made and amended later on in life, and family structures are creating more…
10 MYTHS ABOUT MAKING A WILL
https://www.corning-cc.edu/foundation/baron-bulletin-stories/myths-about-wills.php #willwriting #knowyourwill When you spend a lifetime working and earning for your future, you need to care for the way those assets are managed and shared with your loved ones. Most adults do not even have a basic plan in place which leaves all that you have worked for…
PROBATE EXPERTS WARN AGAINST ONLINE WILLS
https://www.lawgazette.co.uk/news/probate-experts-warn-against-online-wills/5110251.article #willtowin #knowyourwill The growing popularity of online will writing could lead to a ‘surge’ in contested probate cases down the line, probate experts have warned. Funeral Solution Expert, a research and consultancy firm, analysed 26 online will writers and found that consumers are often mistaken as to whether their…
STEP WARNS PUBLIC AGAINST ‘COWBOY’ WILL WRITERS
https://todayswillsandprobate.co.uk/step-warns-public-against-cowboy-will-writers/ #willtowin #knowyourwill The public has been warned of the dangers of “cowboy” will writers by the Society of Trust and Estate Practitioners (STEP) following the publication of its new report on the unregulated will writing sector. Understand Wills with this free, short online course today. According to STEP, “dishonest,…
ESTATE PLANNING: WHY YOU SHOULD BEGIN NOW
https://www.soteriatrusts.com/insights/estate-planning-why-begin-now/ #willing #willtowin If you’re wondering when the right time to start estate planning is, the answer is simple: it’s now. Our comprehensive guide will explain the importance of estate planning and why you should begin sooner rather than later. Have you thought about what will happen to your assets…
WHAT HAPPENS IF I DON’T PAY IHT?
https://www.soteriatrusts.com/insights/what-happens-if-dont-pay-iht/ #willing #knowyourwill The UK’s standard Inheritance Tax (IHT) rate is 40%. IHT must be paid by the executor on the net worth of the deceased person’s estate above the tax-free threshold of £325,000 per single person or £650,000 per couple. However, paying Inheritance tax is not always a straightforward…
WHY WRITING A WILL IS SO IMPORTANT – 10 COMMON MYTHS DEBUNKED
https://www.express.co.uk/finance/personalfinance/1510250/Writing-will-important-myths-evg #willing #knowyourwill WILLS are an essential legal document that cares for a person's wishes after they have died. Despite this, there are some common myths that suggest otherwise. Why is writing a will so important? Death isn't something that many of us want to think about, however writing a…
SUCCESSION PLANNING: HOW TO HAVE THE “TALK” WITH YOUR FAMILY ABOUT IT
https://www.soteriatrusts.com/insights/succession-planning-how-to-have-the-talk-with-your-family-about-it/ #willwriting #willtowin The topic of Succession Planning often requires some careful consideration and balance. Most people have ideas about what they want for the next generations but don’t see why they should plan ahead. Procrastination and the influence of opinions from others are the two biggest reasons used as…
HOW TO UPDATE YOUR ESTATE PLAN AFTER A DIVORCE
https://www.soteriatrusts.com/insights/estate-plan-divorce/ #knowyourwill #willwriting Life often throws us the unexpected, and they don’t come much bigger than the breakdown of a marital relationship. There’s no such thing as an easy divorce, even when things are reasonably amicable to start with. Once the lawyers get their teeth into it, things can get…
FIVE MYTH-BUSTING FACTS ABOUT WILLS
https://www.telegraph.co.uk/lifestyle/cancer-charity-gifts-in-wills/myths-about-wills/ #willwriting #knowyourwill Wills don’t have to be difficult or expensive, and can save money in the long run. David Prosser tackles common misconceptions about wills Why don’t more Britons make a will? Surveys published in recent years have consistently found that people in the UK aren’t making any formal provisions setting…
CONTESTING A WILL – EVERYTHING YOU NEED TO KNOW
https://www.soteriatrusts.com/insights/contesting-a-will-everything-you-need-to-know/ #knowyourwill #willtowin Contesting a will is the process of challenging the validity of someone’s last will and testament after they have died. It can be done by potential beneficiaries or heirs who believe that the contents of the will are not in line with their expectations or are not…
WHO INHERITS MONEY AND PROPERTY IF SOMEONE DIES WITHOUT A WILL?
https://www.equifax.co.uk/resources/money-management/what-happens-if-you-dont-leave-a-will.html #knowyourwill #willing When someone passes away with a legally-binding will, the process for the legal teams overseeing its execution is clear, with named parties on hand to make sure. You can learn all you need to know with our free, short 10 minute online course. You get a certificate,…
LOCATING IMPORTANT DOCUMENTS WHEN SOMEONE DIES: HOW TO FIND A WILL
https://www.soteriatrusts.com/insights/how-to-find-will/ #willing #willwriting Locating the important documents of somebody who has just died is often a cause of additional stress and anxiety for family members. The first and most important of documents needed at this time is the Will, which specifies how the estate will be divided after the Testator’s…
DO I HAVE TO PAY INHERITANCE TAX ON MY PARENTS’ HOUSE?
https://www.soteriatrusts.com/insights/inheritance-tax-parents-house/ #knowyourwill #willwriting A short answer to the question “Do I have to pay inheritance tax on my parent’s property” is yes. You have to pay inheritance tax in the UK for your parent’s house, and families often question why they have to pay taxes on property and estate that…
WHO WILL INHERIT IF THERE IS NO WILL? – THE UK INTESTACY RULES
https://www.soteriatrusts.com/insights/uk-intestacy-rules/ #knowyourwill #willwriting When an individual passes away unexpectedly without a valid Will, their possessions and overall estate becomes subject to a set of rules known as the “rules of intestacy”. While these rules are set with logic to ensure the closest family members receive the bulk of the estate,…
WILL WRITING SERVICES PROS AND CONS
https://www.moneyhelper.org.uk/en/family-and-care/death-and-bereavement/will-writing-services-pros-and-cons #willing #willtowin The need to use a will writing service depends on the complexity of your will. It can be cheaper than a solicitor and more reliable than a DIY will. Take this FREE course and get a certificate and £50 Voucher. How will writing services work? Will writing…
LASTING POWERS OF ATTORNEY: WHAT THEY CAN DO FOR YOU
https://www.soteriatrusts.com/insights/why-lasting-powers-of-attorney/ #willing #willwriting It’s common knowledge that setting up an estate plan while you are alive allows your wishes to be easily followed after death. What isn’t commonly discussed, however, is how Lasting Powers of Attorney can provide peace of mind during your lifetime. These particularly important documents apply only…
MAKING A WILL
https://www.citizensadvice.org.uk/family/death-and-wills/wills/ #willing #willwriting This advice applies to England. It's good to learn, and it's FREE today - CLICK HERE Why it is important to make a will It is important for you to make a will whether or not you consider you have many possessions or much money. It is…
Calls for increased LPA awareness due to an expected rise in dementia numbers
According to Alzheimer’s Research UK, the number of people with dementia is on a rapid increase. Figures provided by the charity, predict that by 2025, one million people in the UK will be living with dementia and by 2050 this figure will be doubled. What is dementia? According to Dementia…
Funeral Costs are on the Rise
Bizarre bequests from beyond the grave.
A will is supposed to help surviving family and friends dispose of your estate after you've passed away. Many people use it as an opportunity to send a message from beyond the grave, either by punishing potential heirs with nothing or perhaps by giving away something fun or unusual to…