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Intestacy Law: What Is It?

Intestacy laws, as many laws do, lag quite a long way behind the society they are supposed to serve. Indeed, you’d have to route through the books for quite a time before you came across a set of rules quite as archaic as those we use to divide up an estate in cases where a person dies without leaving a will. This can lead to some really tragic occurrences. If for example, you and your life partner are unmarried and you do not have a will to direct how your capital, property and possessions should be split between your loved ones, you will find that, by law, they won’t inherit anything. At the same time, your immediate family will automatically benefit, regardless of what the nature of your relationship actually was. If the passing of a partner wasn’t upsetting enough, there is a real possibility that, depending on your circumstances, they will be left with nothing, whilst a person who you may be estranged from altogether will be left...

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Wills In Trust – Why & How?

Wills In Trust – Why & How?

While many people will opt for a very straightforward will to account for their estate after they die, there are a number of reasons why a will in trust might be a more suitable arrangement and that is what we will look at in this article. A will in trust basically means that instead of a spouse or child becoming the legal owner of the deceased’s estate at the time of death, the estate is kept as a separate entity with a stated trustee and beneficiary. Common reasons for making a will in trust include: To keep capital and assets aside in a secure manner for a child or children to inherit once they reach a certain age (often 18 years old). To reduce the inheritance tax liability of the beneficiaries compared with a traditional will arrangement. To provide an income for loved ones to support them and ensure they have everything they need. There are also a number of different types of trust with different outcomes for each;...

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