Anyone holding a policy with a payout upon the death of the policy holder must designate beneficiaries to inherit the funds. In addition to naming beneficiaries for life insurance policies, retirement plans, annuities and IRAs, United Kingdom residents should carefully...
Law Offices of Alhayat Solicitors
What is A-B trust planning?
Some United Kingdom couples who are planning their estates may have assets above the estate tax threshold. In order to entirely avoid or reduce estate taxes on amounts beyond the level of exclusion, many people choose A-B trust planning, a type of irrevocable trust than...
Keys to estate planning for United Kingdom residents
After an individual passes away, it may be necessary to go through probate to settle that person's estate. However, it may be possible in some cases to bypass the court process, which is known as probate. The purpose of probate is to determine if a will is valid, to...
How to avoid common estate planning errors
United Kingdom residents who are making estate planning decisions can learn from the recent mistakes of celebrities. The importance of keeping documents updated is one thing that is illustrated in these high-profile cases. While a will may be sufficient estate planning...
Named beneficiaries override will
Many United Kingdom readers are familiar with the main documents used in estate planning. They are the will, the living will, the financial power of attorney and the health care power of attorney. Even if a person has what they believe is a legal, indisputable will, his...
Reasons to include trusts in an estate plan
United Kingdom residents may want to include trusts in their estate plans whether they are wealthy or not. Trusts allow an estate to be settled without going through the costly and time-consuming probate process. Trusts can also be used to shield an owner's assets from...
Decisions about good and bad assets in estate planning
A United Kingdom resident may be surprised to discover that some assets are not worth keeping, even if there are sufficient funds saved for living expenses during retirement years. Other assets are so valuable that they should be held as long as possible. The...
The importance of leaving behind a written will
While dealing with the loss of a loved one is never easy, United Kingdom residents know that the process can be a bit easier when the deceased family member leaves behind a will. According to a recent report, many individuals today do not have a written will prepared in...
Learn the details of Robin Williams’ estate plan
Fans of late actor Robin Williams may be interested to learn the fate of his two United Kingdom homes and other assets. Although Williams was reported to be worth $130 million in 2012, that number may have changed significantly as a result of his two divorce settlements....
Involvement of various parties in a living trust
Because the probate process in United Kingdom can be drawn out and difficult, many residents may consider living trusts as an alternative to a will. However, it is important to understand the difference between a revocable and an irrevocable trust due to the long-term...
