Divorce And Making Your Will

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What happens to your Will if you get divorced or end your civil partnership?

When you divorce or end your civil partnership your former spouse/civil partner is treated as having died before you.  This means that they will not inherit anything from your estate unless your Will specifically states that divorce or dissolution of a civil partnership would not affect the gift that was detailed in the Will.

In addition, if you had named your former spouse or civil partner as an executor in your Will (ie the person who collects in all your assets, pays off your debts and distributes your estate) they will not be able to act as your executor once you are divorced or after you have ended your civil partnership. If you had appointed your ex as your sole Executor, without any provision for a replacement, this would have to be rectified upon your death,  which could cause delays and  unnecessary costs.

Making a new Will

Unless there is good reason to the contrary the best time to make a new Will is after decree absolute and after all outstanding financial issues have been settled. That is so that any future claim of an ex spouse can be properly quantified.

It is especially important to make a Will to ensure that your children are adequately provided for.

Divorce also affects guardian appointments in a Will. If the couple getting divorced have children together, and not from previous marriages, then the remaining parent shall continue to have parental responsibility for those children.  Further guardianship for children of previous relationships need to be considered carefully.

Next steps

For further information about making a Will, please contact a member of our Private Client department for expert and professional advice.

DIY Wills- A Risky Business

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A Will is one of the most important documents you will ever make but an increasing number of people are preparing homemade Wills, possibly in an attempt to cut costs. However, although DIY Wills could be relatively inexpensive, the legal costs involved to remedy their potential errors may well exceed the cost of a professionally prepared Will. Moreover, it may not be possible to rectify mistakes that are discovered after your death.

What are the dangers of a DIY Will?

Off-the-shelf DIY Will kits are often poorly completed, leading to confusion over what assets have been left and to whom. Common errors that can occur in the process of making a DIY Will include incorrectly signing or witnessing the Will, which renders the document invalid. Furthermore, a beneficiary can compromise their inheritance by acting as a witness.  Even if you successfully avoid these pitfalls and create a valid document using a homemade Will, there is always the possibility that your Will cannot be located when it is needed. By using a regulated Law Firm, not only can you be certain your Will contains your exact wishes and instructions, you can be confident your Will will be stored safely. Most law firms will allow you to store your Will in their strong room free of charge.

Are there any risks involved using a Will-writing firm?

If you choose to use a Will-writing firm over a solicitors’ firm, make sure it is regulated. A recent case in which an unregulated Will-writer was jailed for 14 months after fraudulently charging clients to fix a non-existent problem with their Wills, highlights the dangers of using an unregulated body.  The cost of a professionally written Will includes the advice given by a solicitor, who is subject to regulation by the Solicitors Regulation Authority, unlike many Will-writers who are not legally qualified or governed by regulation.

Further, there are possible hidden charges that could apply if your Will is retained by the Will-writing firm.  Some such firms have dissolved without trace.

Who is at risk?

Everyone is at risk of being persuaded by salesmen offering to write Wills at low prices but then to establish Trusts at greater costs which may be unnecessary.   It is the elderly who are frequently targeted by Will-writing companies who often apply high pressure selling techniques.

Our advice

Do not be tempted to cut corners when it comes to writing your Will. Doing so could result in high legal costs or, at worst, an invalid Will.  Seek the help of regulated solicitors and relax with the peace of mind that your wishes will be carried out.

Inheritance Tax; Budget Changes

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The Chancellor has outlined a promise he says he could not fulfil in coalition. From April 2017, parents can pass £1m on to their children free of inheritance tax. A “family home allowance” worth £175,000 per person will be added to the existing £325,000 tax free allowance from April 6, 2017.

This means that individuals can pass on assets worth up to £500,000, including a home, without paying any Inheritance tax at all. The full benefit of the relief, however, will not be felt until the tax year 2020/21, owing to the fact that there will be a phasing in period of the additional relief from 2017/18.

George Osborne said: “The wish to pass something onto your children is the most basic, human and natural aspiration there is”.

Please follow this link to view the UK government’s latest document

Please contact us for further expert advice regarding.

Tom Harrison Retires

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Tom Harrison Senior Partner At Adams Harrison Retires

Tom Harrison Senior Partner At Adams Harrison Retires

Following a gathering on 29th June of friends, family and colleagues Tom Harrison retired as Senior Partner from the Practice of Adams Harrison, however he will retain a presence as a consultant.

We all wish him a long and happy retirement.

Problem With Transferring Property To Family Members

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For many people their home is their only or main asset and such people are often concerned about that asset having to be sold in order to meet the costs of care. Often people seek to transfer their homes to third parties (usually their children) to avoid them being brought into assessment, and perhaps not surprisingly there are anti-avoidance rules to prevent such an arrangement being abused.

One businessman has recently found out the risks of transferring his property to his son the hard way when his son’s bankruptcy left the family’s substantial buy-to-let property portfolio exposed to his son’s creditors.

The son’s name appeared on the title deeds of numerous properties for which his father had largely paid. When the son was declared bankrupt, his creditors focused on the portfolio as a potential means of recovering what they were owed.

A judge found that a purported declaration of trust had been post-dated and that both father and son had given unreliable evidence in an attempt to protect what they viewed as family assets. The ruling meant that the portfolio formed part of the son’s property in bankruptcy and was available to his creditors.

If you would like further information about this topic, please contact us today for expert and professional advice.

Standard Form Letters Not Sufficient To Properly Advise Client In Relation To A Personal Injury Claim

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In Procter v Raleys Solicitors (A Firm) [2015] EWCA Civ 400, the Court of Appeal considered an appeal against a finding that a solicitors’ firm had failed to properly advise its client about his claim.

In dismissing an appeal against a decision that a firm of solicitors (R), had failed to properly advise its client (P), the Court of Appeal has confirmed the need for standard form letters of advice to be sufficiently clear to ensure that clients properly understand the nature of the advice.

With Adams Harrison you can be sure that you will receive a personal service, taking you through each step of the claim for your injury.

We always make the time to discuss your position with you in detail and to answer any queries you may have. We do not rely on standard form letters to advise you – The Court of Appeal was critical of Raleys Solicitors for doing just that.

More Success For Leanne

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Leanne Mayes who recently won the Young Lawyer of the Year earlier this year, has now just received confirmation that she has been accepted as a Fellow of the Chartered Institute of Legal Executives. 

Accordingly she now has FCILEx after her name.

Congratulations and well done to Leanne.

Tom Harrison Retires as A Partner

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Tom Harrison of Adams Harrison Solicitors

Tom Harrison presented with a cake at his last Adams Harrison partner’s meeting.

Pictured is Senior Partner Tom Harrison attending his last Partners’ Meeting, as he will be retiring as a partner from the Practice on 30th June 2015. 

However Tom will not be leaving Adams Harrison completely as he will be staying on in the capacity of Consultant and will still be attending the Haverhill office two days a week.

All the staff send their best wishes to Tom for this next stage in his legal career.

Forward Joke And Other e-mails At Your Peril

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Internet Misuse led to an employee being sacked for gross misconduct after he had already been given notice terminating his employment on the grounds of redundancy.

In the case of Williams v Leeds United Football Club [2015] EWHC 376 Mr Williams was given 12 months notice in accordance with his contract for his employment to end by reason of redundancy.

The Football club then discovered that he had used the club’s e-mail system to forward an e-mail entitled “dirty Leeds” together with pornographic images to a male friend at another football club.

Therefore, the club then dismissed him without notice for gross misconduct.

Mr Williams was not entitled, stated the High Court to his year’s salary, even for the part of the year he had worked, or his redundancy pay.

FATCA Registrations Delay: Important Update

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HM Revenue & Customs (HMRC) has advised that some individuals are experiencing difficulties in validating Foreign Accounts Tax Compliance Act (FATCA) registrations, in advance of the 31 May 2015 deadline for reports.

The advice from HMRC is that you should continue to file your FATCA return as soon as possible and it will not seek to apply a late FATCA filing penalty while these online delays continue.

HMRC has further advised that its published guidance is being updated to include a specific reference to these delays being considered a reasonable excuse to avoid penalties for late filing.

FATCA is US legislation aimed at reducing tax evasion by their citizens. It requires financial institutions outside the US to pass information about their US customers to the US tax authorities, the Internal Revenue Service (IRS).