Trusts
If you’re buying a house with someone else, you may want to think about getting a Deed of Trust to protect your investments. A Deed of Trust is typically taken out by couples, but it can also be used by family members or friends who are buying property together.
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Even when you both put in different amounts of money into an investment, a Deed of Trust ensures that each party gets their fair share back. This can prove incredibly useful in the unfortunate event of a messy breakup or dispute. Trust Hillary Cooper Law to protect your interest. Contact us.
Trusts can be used as a way of managing assets and passing down family wealth. It can be set up during a person’s lifetime or after death through a person’s will. A trust deed can also help minimise inheritance tax on death and protect assets from being dissipated through litigation. Hillary Cooper Law provides pragmatic advice in relation to your deed of trust and we will help you realise all your immediate and long-term benefits.
Frequently Asked Questions
If you find yourself in this position, you are not to worry! The court can appoint someone to be your deputy. There are conditions for one to apply for this role to be satisfied, they will need to be over the age of 18 and there shall be no objections to you being appointed.
The topics of prenups exhibit the importance of having a competent lawyer at your side. Prenups are not legally binding under UK law, however, if drafted accurately, they may be taken into consideration in the event of divorce proceedings.
The difference is as explanatory as it sounds! A prenuptial agreement is signed by bother parties before the couple’s marriage, whereas a postnuptial agreement is signed after the marriage.
Although both are not legally binding, if they are drafted correctly and accurately, they may carry significant weight in the event of divorce proceedings.
In this unfortunate circumstance, any gifts to the deceased beneficiary will “lapse”. The term “lapse” refers to the gift passing to the estate to be distributed according to the deceased beneficiary will if the beneficiary dies after the testator.
If the beneficiary dies before the testator, their gift will become void and return its original estate to be distributed amongst the remaining beneficiaries.
When one dies, the assets that have been left behind are considered a person’s estate. These assets may include property, money, personal belongings, art etc.
The role of the executor of the will has a legal obligation to identify any beneficiaries in order to carry out any obligations in accordance with the will. This process is done using a “Grant of Probate” or a “Grant of Letters of Administration”.
But why would one want to stop this process? If a will is challenged based on its validity, it may then be necessary to stop a grant of probate to investigate further. An option to apply for a Caveat at the Probate Registry (if you are over 18 years old) is available to stop the grant of probate. A Caveat is issued if a person has reasonable grounds for challenging a will. The Caveat works to stop the distribution of the estate and letters of administration from progressing for six months.
Many may assume that if your spouse dies without a will, you are entitled to his estate. Unfortunately, the law can be tricky around these areas. Spouses are not automatically entitled to receive all their partner’s estate, only personal possessions subject to whether children are involved. If there are no children, grandchildren or great children, a spouse is entitled to their deceased partner’s property when there is no will made.