Frequently Asked Questions

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WillS & Inheritance

What happens if I do not make a Will?

If you die without a Will in place, the rules of intestacy will apply. This will mean that your estate will be distributed according to a strict order depending on the value of your estate and which family members survive you. This may mean that your assets end up passing to people who you’d prefer not to inherit from you. If you are unmarried, your partner may not inherit anything from you without a Will in place.

Will I have to pay inheritance tax?

Every individual has a nil rate band of £325,000. This is the amount they can gift on death without any inheritance tax becoming payable. On top of this there is also a residence nil rate band of £175,000, that can be used against your property if it is being gifted to your children or remoter descendants such as grandchildren. Both allowances are also transferable between spouses. We will be able to advise you in detail about the tax your estate is likely to pay and what you can do to mitigate this.

What is an executor?

Executors are the people you choose to deal with your estate after you are gone. Broadly, their duties include locating all of your assets, paying your funeral expenses and any outstanding debts, and making sure your estate is distributed to the beneficiaries you have named in your Will.

What is a Trustee?

A trustee’s role differs from an executor’s, even though it is common to appoint the same people in both roles. A trustee will manage any ongoing trusts that are created by your Will, so they will take over responsibility for any assets left to trust once the executors have completed the administration.

Power Of Attorney

What is an LPA?

A lasting power of attorney (also known as an LPA) is a legal document that empowers you to designate one or more individuals, referred to as attorneys, to make decisions on your behalf during your lifetime. Although separate from your Will, many people choose to establish a lasting power of attorney at the same time as creating their Will as part of future planning.

When can my LPA be used?

The health and welfare LPA can only be used once it has been registered with the Office of the Public Guardian and if you are unable to make a decision for yourself because you have lost mental capacity. The property and financial LPA can be used as soon as it is registered with the OPG if the ‘Donor’ (you) give consent.

When should I make an LPA?

Anyone over the age of 18, and have mental capacity can set up an LPA. LPA’s can help everyone plan for the future in case of accidents, and illnesses such as dementia, strokes and heart disease.

There are two types of LPA. What do they cover?

A health and welfare LPA grants your appointed attorney the authority to decide on your medical treatment and day-to-day care, encompassing aspects such as your residence, dietary choices, medical procedures, and social interactions. The property and financial LPA allows your attorney to manage and make decisions regarding your financial matters and property. This may involve responsibilities like bill payments, property transactions, pension management, and benefits collection.

Secure Document Storage

Where do you store your client's Wills?

We use a fully managed, professionally converted ex-military site that is protected against flood, fire and other risks, giving you complete peace of mind regarding the security of your documents. The facility meets the highest conservation standards as laid down in BS 4971:2017, and is in vaults 100 feet underground, offering a naturally safe and secure environment.

How secure is Auderli to keep my digital information safe?

Auderli prioritises security by implementing robust measures to safeguard user accounts and portfolios. Unique passcodes sent via email ensure secure logins. Additional protection is offered through Multi-Factor Authentication (MFA) with popular Authenticator apps like Microsoft or Google, requiring a unique code from the app for account access. Auderli commits to never share user data with third parties unless explicitly requested. The platform utilises cutting-edge security components. These components undergo frequent stress testing to mitigate cyber breach risks, providing users with a level of security akin to systems used by banks and governments worldwide.

Can I store other documents, besides Wills?

Yes. Many clients will use the service to store additional documents that should be kept with their Will, such as Lasting Powers of Attorney, Letters of Wishes and Title Deeds. Please contact us if you have any questions around documents that we can store for you.

Probate & Estate Administration

What is the difference between probate and estate administration?

Probate provides the Executor (if there is a Will) or Administrator (if there is no Will) with the legal right to carry out estate administration. Therefore, probate is just one part of the wider process, and it gives the authority to deal with property, money, and personal possessions. Probate may not be required on every estate; however, estate administration is required after every death.

Is there a deadline for administering the estate?

Technically, there is no deadline for starting estate administration. However, there is a 6 month deadline for submitting the Inheritance Tax forms and paying Inheritance Tax if it is due. This must be done by the executor of the Will and is usually done alongside the application for a grant of probate.

I don’t want to administer the estate do I have to?

You are not obligated to serve as an executor. You can relinquish all rights to act as an executor, provided you haven't commenced any estate administration tasks. Alternatively, if there are other executors named in the Will, you can opt for 'power reserved.' This permits the other executors to proceed, but you retain the option to join the probate process later if necessary. Another choice is to enlist a professional to handle the probate work on your behalf.

Do I need probate if the deceased left a Will?

Whether or not there is a Will does not determine the need for probate; rather, it hinges on the financial circumstances of the deceased individual.

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