Misconceptions in Valuing an Estate for Probate. Pitfalls for Beneficiaries and the Disinherited

It is not unusual for misunderstandings to occur about the value of a deceased’s estate, risking substantial financial loss to a beneficiary or a claimant against an estate, if not legally advised.# “Joint Bank Accounts” In my experience banks often mislead people that “Joint Accounts” are not part of the deceased’s estate. The ownership of a bank account held in more than one name depends on the circumstances. An elderly widow befriended a gentleman. He suggested adding his name on her bank account to assist her with banking and she agreed. Later she died and left all her estate to her adult children.  The bank told the gentleman that as he was the survivor of their “Joint Account”, her life savings in that account were not part of her estate to pass to her children, the…

Anticipating Tax Reforms: What Farmers and Family Businesses Need to Know

As the seasons change and we settle into winter, the aftermath of the Autumn Statement delivered on 30 October is still fresh in the minds of rural family businesses. While the chancellor set out broad financial plans, the finer details—particularly those concerning tax changes—are expected to be rolled out in Summer 2025. For farmers and rural enterprises, this delay only prolongs the uncertainty surrounding potential reforms to capital taxes, such as inheritance tax and capital gains tax. These taxes hold significant importance for farming families, where reliefs for agricultural property (farmland and buildings) and business property (the trading aspects of a farm) are vital for preserving generational ownership and business continuity. Over the years, discussions around reforming these reliefs have been a recurring theme, typically aimed at increasing government revenue. While no immediate changes have…

Fields of Promise: Navigating Farming Disputes and Proprietary Estoppel

Clashes over the ownership of the family farm are sadly not uncommon among farming families. Legal battles often ensue after a family member works on the farm for years, often for low pay and infrequent holidays, on the understanding that they will eventually take ownership of the farm – only to find themselves expelled from the farm following a disagreement, or that the Will makes no or inadequate provision for them. In either of these scenarios, a claim for proprietary estoppel may be a useful tool; if successful, such a claim may force the defendant to honour the promise made to the disappointed farm worker, as Julie Bradwell, Associate Solicitor at Ware & Kay incorporating Pearsons & Ward Solicitors in Malton, York & Wetherby, explains.  What is proprietary estoppel? Proprietary estoppel is a legal doctrine…

Is a postnuptial agreement part of your family business succession plan?

The 2020s have been called ‘The Great Wealth Transfer,’ as £1 trillion of wealth built up by the ‘baby boomers’ is expected to pass to the next generation. Much of this wealth will pass via a family business, and parents who wish to retire are having to make strategic decisions about succession planning. A particular concern for many is the potential impact on a family business of a divorce or the dissolution of a civil partnership, and the consequent negotiations of a financial settlement. ‘Business difficulties can arise for any number of reasons, and directors usually have business strategies, budgets and contingency plans,’ says Samantha Sinclair, Head of Family with Ware & Kay incorporating Pearsons & Ward Solicitors in York, Wetherby & Malton. ‘However, few businesses have a plan for what would happen if an…

Ware & Kay Solicitors Support Mick and Peter Fox’s Everest Base Camp Trek to Aid Smile Kenya and Mondo Foundation

Mick Fox, a retired Private Manager from Virgin Money, and his son Peter have completed an extraordinary 14-day journey to Everest Base Camp, raising over £5,000 for two impactful charities: Smile Kenya and the Mondo Foundation. Their trek, which commenced in Kathmandu, took them through breathtaking landscapes, with stops at Lukla, Namche Bazaar, and Dingboche, culminating at the iconic Everest Base Camp at 5364 meters. The climb spanned nine days to the base camp, followed by a three-day descent. Along the way, they faced demanding acclimatisation hikes to Gong Ri (4000m) and Nagarjun Hill (5360m), experiencing thin air, strong UV exposure, and temperatures plummeting to minus 15°C at night. The physical challenges were intense, with three of their group requiring airlift support due to altitude sickness. Despite these difficulties, their dedication to a noble cause…

Financial checks when buying a property

When your offer on a new home is accepted, you will probably want to get things moving quickly. Before your solicitor can start work, there are some important checks that they must carry out to verify your identity and check your source of funds. Sadly fraud has become an increasing problem in recent years, with professional criminals targeting conveyancers and home buyers in what are often very sophisticated scams. It can be easy to lower your guard in the excitement of buying your new home. ‘Your solicitor will need certain information from you,’ explains Lucy Gilman, Associate Director with Ware & Kay. ‘Providing this can sometimes feel like a bit of a chore. However, these checks are a legal requirement and, in most cases, they should be relatively straightforward.’ It is a good idea to…

Protecting Your Business: A Guide to Non-Compete Clauses and Restrictive Covenants

An employee builds up valuable knowledge and contacts during the time that they work for you, but your commercial interests may be vulnerable if they leave and go on to work for a competitor. It is therefore prudent to take steps to protect confidential information, such as pricing strategies, bids, or cutting-edge research, and to guard relationships with clients or suppliers that could be exploited to another business’s advantage. At the start of employment, employers often include restrictions, known as restrictive covenants, on what an employee can do with information and contacts gained during their employment. However, even if a former employee could damage your business, there are limits on the restrictions that can be placed on them and how far you can prevent them from competing with you. What are non-compete clauses? Non-compete clauses are…

Promotion strengthens Litigation & Dispute Resolution Team at Ware & Kay

Ware & Kay Solicitors, with offices in York, Wetherby, and Malton, is pleased to announce the promotion of Akeel Hussain to Associate in its highly regarded Litigation & Dispute Resolution Department, effective from 1st December 2024. Since joining Ware & Kay, Akeel has become a valued member of the team, recognised for his expertise in handling a wide range of complex litigation matters. His work includes residential landlord and tenant disputes, breach of contract claims, professional negligence cases and debt recovery. In his new role as Associate, Akeel will continue to deliver tailored legal advice to a diverse range of clients, including property owners, landed estates, farmers, and agricultural businesses. He will also advise commercial and residential landlords on possession claims, recovery of rent arrears, insolvency, contentious probate, contested business lease renewals, dilapidations, and property…

Shareholder Disputes: what happens when shareholders fall out?

Disputes between company owners are not uncommon and can range from disagreements about strategy and management through to allegations of breach of fiduciary duties and breach of trust. These disputes can have serious ramifications which may threaten the financial security of your business. The legal framework for addressing shareholder disputes in England and Wales is primarily governed by the Companies Act 2006 alongside the company’s articles of association and any Shareholder Agreement. There are three main remedies available to you as a shareholder of a company if you think that your rights as a member have been compromised, whether that is because of money being taken such as by paying unauthorised dividends or paying excessive salary or other breaches of company duties or company mismanagement. The principal remedies are: Presenting an unfair prejudice petition…

Ware & Kay Christmas and New Year Opening Times

     As the festive season approaches, we would like to extend our warmest wishes to you for a joyful Christmas and a safe, healthy start to 2025. We look forward to continuing our partnership and providing you with the best possible service in the coming year.    Christmas and New Year Opening Times Our offices will close from 4.00pm on Monday, 23rd December, and will reopen at 9.00am on Thursday, 2nd January 2025. If you need to reach us outside these hours, please use our "Contact Us" form and a member of our team will respond on the next business working day.  Best wishes The team at Ware & Kay incorporating Pearsons & Ward