With the Bank of England continuing to raise interest rates, a number of beneficiaries under estate administrations, who have been left a set sum of money under a Will (called a pecuniary legacy) have enquired if they will receive interest on the specified sums due to them, given the length of time it can take … Continued
With the summer holidays drawing to a close and children heading back to school, it is perhaps a fitting time to consider who your children, or those in your family, are considered your ‘children’ for the purposes of a Will. It is sensible for all parents to make a Will so that should the worst … Continued
There is a significant amount of negativity surrounding the housing market currently. Whilst this is a worrying time economically it is important to consider the positives whenever possible. As a solicitor who has undertaken conveyancing work for almost 17 years, I have seen my fair share of housing market highs and lows. From the catastrophic … Continued
Faye Edemenson qualified as a solicitor in June 2023 and assists clients with residential property transactions, Will writing and preparing Lasting Powers of Attorney from the firm’s Northallerton office. Qualification as a solicitor comes after the successful completion of her period of recognised training (often known as a training contract) where Faye gained experience in … Continued
The decision in the recent case of MN v AN [2023] serves as a helpful and timely reminder of the factors considered when entering into a pre-nuptial agreement (also known as a pre-nup or PNA). People are often surprised when they decide to look into obtaining such an agreement at the cost involved and requirements … Continued
The reasons for choosing to go ahead with Equity Release (also commonly known as a Lifetime Mortgage) are varied. Many of our clients wish to release equity to carry out home improvements, fund foreign travel, or to re-mortgage. Initial Steps Once financial advice has been taken and the decision has been made to go ahead … Continued
This week marks the first inaugural National Conveyancing Week, so we at Clark Willis thought we would bring you some helpful information about the current housing market and the way we can help prospective buyers and sellers. It is no secret that house prices boomed during the pandemic, due to the imbalance between supply and … Continued
What is Probate? Where a person leaves a Will, the issuing of the Grant of Probate is the legal appointment by the Court of the person (or people) nominated as executors in the Will and therefore entitled to administer the estate of the deceased person. This is so financial institutions, the Land Registry and other … Continued
What is the Residence Nil Rate Band? The nil rate band (£325,000 in the tax year 2022/2023) is the amount which is chargeable to IHT at the rate of 0%. From 6 April 2017, an additional residence nil rate band (RNRB) applied so that less IHT may be paid when the family home is left … Continued
A frequent question raised by couples when making a Will is often regarding protecting the family home. This may be in relation to residential care fee planning or ensuring children are not disinherited by subsequent relationships or on second or third marriages. Traditionally, the family home would be left to a surviving spouse but increasingly, … Continued
