We’re proud to support Update Your Will Week 2024

 Update Your Will Week from the 4th – 10th March is an annual campaign hosted by The Association of Lifetime Lawyers.   It aims to raise awareness around the risks of not having an up to date Will and encourages people to update their Will to ensure their wishes are carried out when they die.   Why is it important to have an up to date Will?   Having an up to date, well-drafted will is crucial to ensure your wishes are carried out in the way you’d like when you die. Knowing you’ve chosen what you want to happen can also help ease distress for loved ones left behind and minimise potential disputes.   If you die without a Will, any assets that belonged to you must be distributed according to the strict rules…

Saint Catherine's Hospice Make a Will Week 22 April to 26 April, 2024

We are delighted to support the Saint Catherine’s Hospice Make a Will Week. We have agreed to give our time and expertise for free to support Saint Catherine’s Hospice Make a Will Week Catherine’s Hospice Make a Will Week. We will happily meet with you to take your instructions for a simple Will during this week and draft a professional Will in accordance with those instructions. We will also meet with you again for your Will to be signed by the end of May 2024. In return, you will make a donation to Saint Catherine’s. Our suggested minimum is £200* per single Will and £350* per matching pair. This is payable at the time you sign your Will with us and we will forward the donation to Saint Catherine’s Catherine’s. *If your Will requires advice of a complex nature, or because of any failure on your own part to complete the Will…

Changes on the farm – is it time to update your Will?

It is recommended that you review your Will every 3 to 5 years, but if your farm has expanded, downsized, or diversified, then you should also look at your Will to ensure it reflects your wishes. Laura Carter, Associate and agricultural specialist at Ware & Kay and Pearsons & Ward Solicitors in Malton (part of Ware & Kay in York and Wetherby), highlights the key changes that should prompt a farmer to review and update their Will. Has the value of your farm increased substantially? If your farm has grown substantially then it is important to have the ownership of the farm’s assets checked and for them to be valued. Based on the valuations received, you can then consider making a new Will to help decrease any liability for inheritance tax, particularly to take advantage of…

Martin House Make a Will during the month of March 2024

   Leave your legacy to help us continue ours If, like many other people you have been putting off writing your Will, this is your chance to put that right. Ware & Kay Solicitors has teamed up with Martin House to give you the opportunity to have your basic Will written for free. Legacies are vitally important to Martin House. In fact, they make up more than a quarter of our entire voluntary income, meaning the cost of caring for one in four of our children is covered by gifts left in Wills. Over half of UK adults have not made a Will. It's not always easy to think about what might happen when we die. But making a Will is an important step to ensuring the people and things you care about are taken care of after you're gone. Your…

Can you contest Power of Attorney UK?

Power of Attorney is a significant legal tool, but there are circumstances where contesting its validity may be necessary. If you find yourself asking, "Can you contest Power of Attorney in the UK?" you're in the right place. If you require further clarification or personalised legal assistance, our team of experienced solicitors are here to assist you. Call us today on 01904 716000 (York) or 01937 583210 (Wetherby) or 01653 692247 (Malton), or complete our online contact form. Can You Contest Power of Attorney in the UK? Under UK law, it is possible to contest Power of Attorney, but certain conditions must be met, and the grounds for contesting must be substantiated. Here are key points to consider: Lack of Mental Capacity The document may be contested if the person granting Power of Attorney lacked mental capacity when signing. Mental capacity is crucial for…

Diversifying may be the answer

Both locally and nationally, many farms have diversified to provide additional income streams - and some farmers now run several diversified businesses on former agricultural land, such as holiday lets and solar farms. Although this extra income may be vital and diversifying may be the only way to secure the family business can continue, an unintended consequence can be the loss of Inheritance Tax reliefs available. Laura Schofield, Wills & Probate Solicitor with Ware & Kay, considers this. Inheritance tax – the basics Inheritance Tax is a tax on the estate of someone who has died. The rate is 40% on the amount above the ‘nil rate band’ which depends on the individual concerned and the assets – from £325,000 to £500,000 per person, or up to £1,000,000 per couple depending on the size of…

What is probate?

It's difficult enough to deal with a loved one's death. Additionally, organising their funds can be a difficult and drawn-out procedure. The executors designated in the will to carry out the deceased's wishes need legal custody over their assets, which is referred to as probate. In order to acquire access to the bank accounts of a deceased person and organise their property and goods. According to official statistics, approximately 250,000 petitions for probate are filed each year in England and Wales. What is probate? Executors are given access to a decedent's assets and the authority to distribute them through the legal process of probate, also known as estate management. The phrase "estate" refers to all their assets, including real estate, cash, and personal belongings. The personal representative is the individual who has been granted probate. Do…

I’ve had a Dementia diagnosis, what should I do?

Alzheimer’s Research UK estimates that 944,000 people are living with dementia in the UK, with one in six people aged 80 and over at risk of developing dementia. It’s therefore likely that we’ll be affected by dementia, either directly or via a family member at some point in our lifetime. A dementia diagnosis can be devastating for a family, and understandably it takes time to fully digest the implications it brings. However, there are a few things that should be considered as soon as possible by the person receiving the diagnosis: Your papers – ensure all of your financial papers are in order and that your family know where everything is. Lasting Powers of Attorney (LPAs) – you should put in place LPAs. LPAs are documents which allow you to give authority to people you…

Have you planned for later life?

Wills Without a Will, your assets will be distributed according to the ‘intestacy rules’ i.e. the law dictates where your estate goes to on your death. The result might be that your estate doesn’t go to the people you want it to. By making a Will, it enables you to decide what happens to your assets on your death and can also include: any funeral wishes you may have; any specific items you wish to pass on, such as jewellery; any gifts of money you wish to make to family, friends or charities; If you have children under the age of eighteen, who you would like to look after them in the event of your death. It is really important to discuss your requirements with a professional so that they can consider your…

A record amount of charity donations were included in Wills in 2022

According to recent data, 2022 saw a record amount of bequests to charities. Of the 231,582 wills that Smee & Ford handled, 36,992, or nearly 16%, contained a gift to a charity. The overall amount of charitable estates was higher than Smee & Ford's forecast of £20 billion from September, coming in at £21.3 billion, the highest amount ever. The total number of individual bequests within charitable estates awarded probate in 2022—123,298 in England and Wales—was also the highest amount ever recorded. Over half of all legacy revenue in 2022 came from high-value bequests worth over £100k, with 31% of bequests valued at over half a million pounds and another 22% coming from bequests valued between £100-£250k. “It is encouraging to see that 2022 was another strong year for legacy income and that the number of…