Updating your will after divorce is an essential step in estate planning, and one that people often fail to consider at an early stage. Similarly, should you remarry, putting in place the right measures in your estate to protect your assets and ensure that the right people benefit from your

Dying intestate: what does it mean? Dying intestate means passing away without a valid will. In such cases, the distribution of your assets and estate will be determined by the laws of intestacy. Who inherits the estate when someone dies intestate? In general, dying intestate means that your estate is

In our busy lives, thinking about our mortality and what happens to our assets after we’re gone can be uncomfortable. The consequences of not writing a will cannot be overstated due largely to the confusion, complexities, and cost that dying intestate can cause. By not writing a will you can

Whether your estate is large or small, understanding inheritance tax is extremely important. This Tax (IHT) affects how much of your estate is taxable after you have passed away, which is why many people plan ahead in order to reduce the amount their family and loved ones could have to

In our latest blog we’re looking at estate planning and trusts and the benefits, risks and features of utilising trusts in your estate planning process.   Estate planning is the process of arranging the transfer of assets and properties after death. Trusts are legal instruments commonly used in estate planning

have you considered the risks if you lose mental capacity? An LPA (Lasting Power of Attorney) is a legal document that allows you to appoint someone to make decisions on your behalf if you become unable to do so due to mental incapacity or other circumstances. Not having a valid

Probate is the process of distributing the assets of a deceased person in accordance with their will. It also applies where someone has died intestate- without a will, but the requirements and the language are different. It is the only legal way to transfer assets to the beneficiaries. Without it,

Establishing mental capacity when you write your will is possibly not something that you would naturally consider. Particularly if you’re writing your will in your younger years (which we firmly believe that you should, by the way), thoughts of diminishing mental capacity and any thoughts of dementia are a long

There are good reasons why you should write a will in the first place, but there are more reasons why you should go through a periodic estate planning review. When you go through the estate planning process you’ll examine your property, money, and possessions, consider who will be dealing with

Bloodline wills can be put in place to keep your assets in the family when you die. Not just for your children, but for your grandchildren and future generations. Q1. But what are they?   Q2. How do they differ from normal wills?   Q3. And when should they be

Protecting your estate from taxation when you die can be complex. But reducing your inheritance tax liability isn’t impossible, and there are steps that you can take to mitigate the risk.   Inheritance tax is a tax on the estate of someone who has died. Payment is arranged and made

We’ve put together the top 10 most asked questions in this FAQ to help you understand what a Lasting Powers of Attorney are, how it can help you, and when it should be used. Question 1: what are lasting powers of attorney? In the simplest terms, lasting powers of attorney

DIY estate planning might seem like a good idea, and an easy way to save money. But will it really save you a penny in the long run? Or could you leave a nightmare for your next of kin to sort out at a time when they are grieving your

Christmas Opening Hours Christmas is nearly here, so from the team here at Identity Resource we’d like to take the opportunity to wish you and your family a Merry Christmas and a peaceful New Year. Monday 19th December – 9am to 5pm Tuesday 20th December – 9am to 5pm Wednesday 21st December

In our latest blog, we’re looking at estate planning and second marriages. When your first marriage ends there is much to consider. You may be divorcing, or you have lost your spouse. Both reasons present challenges that you must address through your estate planning to ensure that your estate is

Guardianship is a difficult subject, but getting it right means that your wishes for the care of your children will be followed. But getting it wrong can have implications for your children for the rest of their lives. Until they are 18, children are legally under the care of someone.

Business Continuity planning should include a Business LPA In the last in our series on Lasting Powers of Attorney, we’re looking at business continuity and why you should include a business LPA in your plan. To get up to date on all 3 LPAs we have posted blogs here: Lasting

Why go through a process of estate planning for your business when your spouse or business partners, or both will know what to do if something happens to you? Why estate planning for business and continuity planning? Business continuity planning is often set aside with the rest of the “it

There are a number of different aspects to business continuity planning. All of them need due care and attention and the right strategies put in place. And the key people in your business who you can’t operate effectively without form one critical part of your business continuity planning. That’s not

We’re looking at estate planning for blended families in our latest article. Over 50% of marriages end in divorce today, and blended families are becoming more and more common. So much so, in fact, that they are no longer regarded as unusual. So it makes sense to take a look

Sideways disinheritance is a scenario where your beneficiaries miss out on their inheritance when you die because generational inheritance steps sideways through the remarriage of the surviving spouse. What does that mean exactly? The commonest form of will for married couples is a mirror will. Essentially you both write the