Probate

The legal process by which a the estate of a deceased is collected in order to be distributed according to the Will to the beneficiaries of the estate. In common parlance this refers ... Continue Reading →

Legacy

Any gift or benefit of Will. If the gift it in the form of money it is labelled a Pecuniary Legacy, while items such as possessions or intellectual property are a Specific Legacy. A ... Continue Reading →

Intestate (or Intestacy)

The situation where a person has passed away without a Will. The term only applies where the person has an estate upon their death, meaning that they have greater assets than debts. ... Continue Reading →

Inheritance Tax

A tax of 40% of your estate if the total value of your estate, and gifts made in the previous seven years, exceed a set threshold. The 2013-14 threshold is set at £325,000. Charitable ... Continue Reading →

Guardian

If you pass away prior to your children’s eighteenth birthday, the person who will be legally responsible for them. In normal circumstances if the children’s other parent ... Continue Reading →