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Legal News | 21.01.21

The ‘Bluest’* of Blue Mondays

Every year a Monday in January is nicknamed ‘Blue Monday’, the most depressing day of the year. In ordinary years, we are faced with miserable weather, depleted bank accounts after Christmas spending and broken New Year’s Resolutions. This year, we have a pandemic and a third lockdown to add to the mix. For many, this will be difficult enough but for those who have recently lost a loved one, the grief and administration associated with dealing with that person’s estate might be too much to bear. Instructing a solicitor may help to alleviate the burden in this particularly difficult January.

Not only can a solicitor help by taking on the administrative burden, they can also provide some additional benefits…

• Do you know the effect of the deceased’s Will? Wills are often written in legalese and can be difficult to understand. A solicitor will be able to review a Will and tell you what it means.

• Even if you can interpret the Will, what should happen if something in the Will does not sit quite right? A beneficiary who has died? A name spelled incorrectly? A solicitor can help guide you on what should happen next.

• Applying for a Grant of Probate can be a minefield. There are forms to complete, forms to sign, different values to ascertain… Solicitors are well versed in applying for Probate and can prepare the required documentation on your behalf.

• How do you know if inheritance tax is due? If it is, how much should be paid? A solicitor can help you calculate the inheritance tax due and even advise on applicable exemptions or reliefs, which might mean the estate pays less inheritance tax than you initially thought.

• Does the Will set up a trust? How do trusts work? A solicitor can assist you with this complex area.

Losing a loved one is difficult in the best of times. Whilst we cannot help you with the gloomy weather or home-schooling in lockdown, we can help you to deal with the estate of someone who has died. Please give us a call on 01380 733300 or email us at wealth@wansbroughs.com, and we will be happy to help you.

*Not in the Oxford Dictionary but is apparently valid in Scrabble!

 

Posted By Our Wills, Tax, Trusts & Probate Team

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