Mr/Mrs [Full Name][Address Line 1][Address Line 2][Postcode] Date: [Insert Date] For the attention of my Executors – [Names] Having reviewed my income and expenditure, I confirm that my income regularly exceeds my normal living expenses. It is my intention to make regular gifts from this surplus income to the beneficiaries named below and to continue […]
We all know about the £3,000 annual gift allowance – which, let’s be honest, barely covers a family Christmas these days. But there’s another inheritance tax (IHT) rule that’s a bit of a hidden gem: the “normal expenditure out of income” exemption. In short, if your income comfortably exceeds what you spend, you can give […]
Trust Me – You Probably Already Have One For many people, the word “trust” sounds a bit serious — the sort of thing that comes with a stack of paperwork, a stiff brew, and someone saying “now don’t panic, but…”. In reality, trusts are tucked away in all sorts of everyday financial bits and pieces, […]
If you thought Companies House was just about sleepy annual filings and the odd company search, think again. They’re shaking things up in a big way, and this time it affects you – yes, every director and every person with significant control (PSC). From 18 November 2025, each director and PSC must have their identity […]
As we continue our series on planning for life’s “what ifs”, there’s one family member we couldn’t possibly overlook — the one who never answers back, always listens, and greets you like a celebrity every time you walk through the door. Your pet. For many of us, pets are more than companions. They’re part of […]
Ask any couple whose money it is, and you’ll probably get three answers: For day-to-day life, that works fine. But when it comes to Inheritance Tax, HMRC is far less romantic — they like things labelled neatly as “his” or “hers.” Whose account does the gift come from? For IHT purposes, the name on the […]
When there’s no will, the person handling the estate is called the Administrator.Their job: sort the mess, stay sane, and avoid personal liability. Step 1: Establish Your Right to Act Only certain relatives can apply for Letters of Administration — following the same order as the intestacy rules.If more than one person qualifies, they can […]
When the law divides an estate, it flows down the family tree like water — each generation taking its share, unless that branch has died out, in which case the share trickles down further. Basic Principle: “Per Stirpes” If a child of the deceased has already died, their own children inherit that child’s share. Example: […]
When there’s no will, the estate is distributed under the Rules of Intestacy — a set of laws last updated by people who clearly hadn’t spent Christmas with your family. How It Works The estate passes in a fixed order: Who Gets Nothing Real-World Chaos Imagine David dies leaving his partner of 25 years, Sue. […]
If you think having a will automatically means you’ll avoid family chaos — think again. A will only helps if someone can actually find it. And since there’s no official “will database” in the UK, the search can quickly turn into a legal version of hide-and-seek. Step 1: The DIY Detective Work Start simple. Check: […]
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