A Premium Bond is an investment product held with the government by National Savings and Investment (NS&I). The government pays interest on these Bonds, and this interest is distributed by a lottery in a monthly prize draw. A cash prize can be anywhere between £25 and £1 million and is free of tax. Prizes are
What Happens to Premium Bonds After Death ? Read More »
Lasting Power of Attorney Play Video The number of Last Power of Attorney (LPA) registrations in England and Wales is continuing to soar, new data released by the Ministry of Justice has revealed. n July to September 2022, there were 201,121 LPAs registered, up 19% compared to the equivalent quarter in 2021.
LPA applications up 19% year-on-year Read More »
The regulation of the funeral plan market proposes to provide better safeguards for consumers, including a ban on cold calling and commission paid to intermediaries, and high standards on governance and financial resilience. Regulation will also provide a more formal redress scheme through the Financial Ombudsman Service and will be covered by the FSCS if
FCA confirms list of regulated funeral plan providers Read More »
The Financial Conduct Authority has published a list of 14 funeral plan providers who will not be authorised to sell new funeral plans once the new regulatory changes take effect from 29th July 2022. Reiterating the forthcoming changes, the FCA stated that “only funeral plan providers that we’ve authorised, or their Appointed Representatives (intermediaries who can
FCA names funeral plan providers who are NOT authorised Read More »
Our latest informative blog is authored by Jim Sisson, Chief Financial Officer at Tower Street Finance. When someone dies, the beneficiaries may want to make improvements to the property to increase its value and their inheritance. This begs the question – can improvements or upgrades be made to a property during the estate administration process? In our latest blog,
Can property improvements and upgrades be made during estate administration? Read More »
When dealing with the death of a loved one, many Executors find themselves worrying about the costs of administering the estate and how fees can be paid. Acting as an Executor or Administrator is not a paid role, and it’s common to feel concerned that it may leave you out of pocket. In this blog,
Can probate fees be paid from the estate? Read More »
It’s not unexpected that managing a loved one’s digital assets after their passing is a duty that is becoming more and more prevalent as more and more areas of our life transfer to the digital realm. Due to its rising popularity, cryptocurrency is a digital asset that frequently makes news. Due to cryptocurrency’s early development
What happens to crypto assets when someone dies? Read More »
Trusts in Wills Many Wills may have a Trust written into them but there is often confusion surrounding the reasons why it has been included and what it means. It is important to remember that although the Trust in the Will is treated as coming into effect when a person dies, there may be some
TV personality Kate Garraway’s publicized financial worries, due to her husband currently being in a coma in hospital due to the coronavirus, is a timely reminder of the importance of Lasting Power of Attorneys (LPAs). Kate’s husband Derek was diagnosed with coronavirus back in March. Although he is now testing negative for the illness he
Kate’s financial worries demonstrate the need for LPA Read More »