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Department: Private Wealth

Private Wealth

My spouse can look after my financial affairs if I lose capacity and am unable to do so for myself – Myth or truth?

Myth – Unless you have a registered Lasting Power of Attorney (LPA) in place

Private Wealth

I cannot do anything to save inheritance tax because it is tax evasion – Myth or truth?

Myth - There are many tax reliefs and allowances that are given to everyone to legitimately use.

Private Wealth

I can draft my will to secure my half of the estate for my children – Myth or truth?

Truth - Wills can be drafted so that even if a surviving spouse or partner changes their will after you die

Private Wealth

Our children are guaranteed to inherit my estate because my partner and I have both made wills – Myth or truth?

This is a myth - in most cases a surviving partner can change their will.

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My partner will get everything if I die so there is no need to make a will – Myth or truth?

This is a myth as unmarried couples are entitled to nothing if there is no will.

Commercial Property

Why is it necessary to provide ID and proof of funds when instructing a solicitor?

Providing ID and proof of funds is a requirement of The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017.

Private Wealth

What happens to a lasting power of attorney when someone dies?

A lasting power of attorney is an excellent way to ensure your health, welfare and financial affairs are taken care of.

Private Wealth

Can I include my dog in my will?

Pets are considered personal possessions according to the law in England and Wales, so can be gifted to someone.