One of the criticisms of the old insolvency regime was that a Trustee in Bankruptcy (“the trustee”), who had failed to immediately realise their interest in a bankrupt’s family home, was able to recover this interest several years after the date of discharge of the bankruptcy order.
If you believe that you have unreasonably been left out of a will, you may be able to apply for reasonable financial provision from the deceased estate pursuant to the Inheritance (Provision for Family Independence) Act 1975 (“Inheritance Act”).
The Trusts of Land and Appointment of Trustees Act 1996, commonly known as TOLATA or TLATA, is a law in England and Wales used to resolve disputes over the ownership and rights to property. These disputes often involve unmarried cohabiting couples, but can also apply to married couples, other family members, and even business partners.
It is not unusual for land and property to be held within a trust for the benefit of family members (and is a particularly common arrangement for farming families). Predictably, this arrangement can enter choppy waters when one of the beneficiaries wants – or needs - to sell their share.
A property protection trust will is a will designed to help protect your property from an assessment to long term care fees. The half share of the family home belonging to the first person to die, passes into the trust.
Join our Private Client Team for an insightful seminar on effective estate planning and succession strategies, designed to help preserve and protect your wealth for future generations. Whether you're a business owner, farmer, or involved in family-owned enterprises, this session will provide you with essential legal and strategic advice.
Following the Judgment of Ilott v Mitson & Others handed down on 15 March 2017, this has given rise to a number of legal questions for the profession and has caused those who may have a claim pursuant to the Inheritance (Provision for Family and Dependants) Act 1975, to ask “what does this mean for me?”
A case in which I advised the parents of a four-day old baby who died in 2012 after being deprived of oxygen has recently been in the news as the family has only just received a five-figure settlement and an apology from Warwick Hospital.
The treatment of Pensions on divorce when assessing the financial positions of the separating couples has previously lacked consistency. The recent cases decided by the Family Court in 2020 have demonstrated that the guidance on the treatment of pensions on divorce report.
A will is an important document and a crucial way of protecting family members and loved ones. It is a legally binding document which states who should receive your estate (such as your assets, property, investments, cash, etc) after you die.