Partners will usually hold their property jointly, this is known as ‘Joint Tenants’. If you hold your property as Joint tenants, should one partner die, that share is passed automatically to the surviving partner and will not pass through the Will. This is known as passing by ‘Survivorship’.
Alternatively, you may hold your property in specific shares – as ‘Tenants In Common’. This means that your share in that property will pass in accordance with your Will as it will form part of your estate. This enables you to make a gift in the Will to specify who is to take your share in the property, unlike a Joint Tenancy.
It is easy to convert a Joint Tenancy into Tenants In Common if you wish to make a gift of your share of the property. This can be done by a ‘Notice of Severance’, which is then registered with the Land Registry.
Yes, the solicitor is allowed to charge reasonable costs for acting as an executor. The usual charges are between 1½ …
Read more Wills & ProbateMarriage will cancel your Will unless it was prepared in expectation of the event. Getting divorced will not cancel your …
Read more Wills & ProbateA member of your family, your partner, a friend or solicitor may act as your executor. The executor must be …
Read more Wills & ProbateProbate is the process of proving that a Will is valid and confirming the Executor’s authority to administer the estate …
Read more Wills & ProbateNo, you do not have to act as an Executor. You have a couple of options. Your first option is …
Read more Wills & ProbateYes. In England, Wales and Northern Ireland you must be over 18, and in Scotland you must be over 16. …
Read more Wills & ProbateThe first step is to work out who should apply for letters of administration We can give you full advice …
Read more Wills & ProbateUnlike an intestacy, where children must take their inheritance at 18, if you make a Will you can specify at …
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