Insurance designed specifically to protect lay executors against the unlimited liability they face during the management and distribution of an estate.
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Posts · Jul 12, 2017
One of the most important things you can do to help your family after your death is to write a will. So many of us put this job off but it is important to write a legally binding will that details the people/organisations to whom you want to leave your assets. If you don’t write a will it is likely that the government and HMRC will be the main beneficiaries.
Posts · Mar 30, 2017
New probate fee structure will pose an additional financial burden on lay executors and more personal liability issues.
When you write a will you need to choose an executor to manage and distribute your estate after death; increasingly many of us opt for a member of our family or a friend to take on this role but we don't often think about how easy it will be for them to sort out our affairs after our death.
One of the difficulties many executors experience is identifying what our assets and debts are. If the executor makes a mistake in the management or distribution of the estate they can be held personally liable so it is really helpful if they have an easily accessible overview of all your capital assets and any creditors that might need to be paid following your death. One of the ways you can do this is keep an up-to-date spreadsheet of your financial affairs. We have set up a Sample Personal Finance Fact Sheet, with fictional entries so that you can get an idea about what information you might need to give to your executor. You can download this file and change to include your own entries.
Most of us put off sorting out our affairs but if we have left clear instructions and put our house in order, it can be a huge relief for the relatives and friends left behind after our death.
There is no doubt that taking a practical approach will definitely help your family so we have put together 10 tips for end of life planning which looks at the important issues that you might need to resolve before you die -