A generation-skipping trust is one methodology by which wealthy United Kingdomns can pass their estates down through the family without facing the double estate taxation that other methodologies often entail. As Investor Guide explains, a generation-skipping trust...
Law Offices of Alhayat Solicitors
Does your loved one have the capacity to make a will?
If your loved one wishes to make or change a United Kingdom will, you need to be aware of the possibility of diminished capacity issues. As explained by the Orange County Bar, legal mental capacity is different than general mental capacity.Your loved one’s...
How often should you update your estate plan?
Remember how excited you were when you finally got your United Kingdom estate plan created and established? You likely felt as if a giant burden had fallen off your shoulders. You knew you had perfectly set up your will, trusts, powers of attorney and all your other legal...
How can I avoid inheritance disputes?
It’s not uncommon for contentious fights to break out among families when it comes to inheritance issues. However, parents leave assets to their kids to help them, not to cause strife that can be both expensive as well as emotionally trying. While you...
What constitutes undue influence?
If you fear that your elderly, ill or disabled parent in United Kingdom is developing too much reliance on his/her caregiver, you may wish to take preventative measures to ensure that (s)he does not change his/her will while under this person’s undue influence. As...
What is a spendthrift trust?
If you and your spouse are like most United Kingdom parents, you make every effort to raise your children to become responsible adults, financially and otherwise. Unfortunately, these lessons do not always take with some kids, particularly when it comes to handling money...
What constitutes a breach of fiduciary duty?
When you become the trustee of someone’s trust or the executor of his or her United Kingdom estate, you also become a fiduciary. What this means is that the grantor of the trust or the testator of the will trusted you enough to put you in a position of authority to...
Revocable vs. irrevocable: Which type of trust is better?
As you go about establishing your United Kingdom estate plan, you likely will come face to face with the issue of trusts sooner rather than later. As reported in U.S. News, all trusts are stand-alone legal entities, meaning that they and the assets you put into them are...
What is a pour-over will?
You likely have already made a United Kingdom will, but do you need to make a new one? You may if you have established a living trust. As FindLaw explains, only a pour-over will can ensure that your living trust works the way you intend it to work.Your pour-over will...
How are special needs defined?
Before you can set up a special needs trust to benefit your United Kingdom child, you must determine if (s)he qualifies for such a trust. As you likely already know, “special needs” is an umbrella term that covers a wide variety of illnesses and...
