How to Write Your Will, 15th Edition

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How to Write Your Will, 15th Edition

By: Marlene Garsia

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Product code: 23152
ISBN: 0749444711
200 pages
Format: Pb
Published by: Kogan Page, 2005, 15th edition

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How to Write Your Will, 15th Edition - front page cover image

Description of How to Write Your Will, 15th Edition

Now in its 15th edition, How to Write Your Will is a proven popular and practical title. It is an easy-to-read, step-by-step guide that makes this complicated subject much easier to deal with. Full of expert tips and advice, it provides valuable guidance on crucial issues such as:

- the importance of writing a will;
- factors that can affect your will;
- how to write a will;
- where you can go for advice;
- valuing & administering the estate;
- winding up an estate;
- tax planning;
- handling tax affairs of the deceased;
- gaining probate.

Updated to include frequently asked questions, a list of useful addresses and a glossary of terms, it is packed with practical examples to guide you through the whole process. A complete guide to wills and probate, it is essential reading for anyone planning on making or updating a will, as well as for executors.

How to Write Your Will, 15th Edition - Chapter headings

Introduction

1. Why Do You Need a Will?
Who can make a will?
Decide on your aims
How much will my estate be worth in, say, 20 years' time?
Understanding the jargon

2. What happens If You Die Without a Valid Will?
Present rules

3. What You Should Know Before Writing a Will
What is termed as 'property'?
Financial matters
What is an executor?
Who can be appointed?
Where should a will be kept?
What is a trust?
Small estates in England and Wales
Expected estates' in England and Wales
'Excepted estates'
What is a life interest?

4. What Can Affect Your Will?
Marriage
Divorce
Revocation of a will
A 'wish of intent'
Disputes and unknown factors
Making a gift void
Rules to follow

5. How to Write a Will
Checklist for your will
Example of a will
Notes
What is a codicil?

6. A Question of Tax
Equalisation of estates
Settlements
Transfers between husband and wife
Domicile
Gifts
When is inheritance tax applied?
What can be achieved if no prior planning has been done?
Business property relief
Relief for succession charges
Related property rules
Disposing of an asset
Interest in possession trusts
Children: accumulation and maintenance settlements
Discretionary trusts
Jointly owned property
How is tax paid?
Insurance against inheritance tax

7. Dealing With Personal Tax Matters After Death
Allowable expenses before inheritance tax
How does this affect the surviving partner's tax position?
Self-assessment
What is a tax code?
Income tax due during the period of administration
The distribution of income to a beneficiary

8. Who Can You Go To For Help?
When will you need assistance?
Where do you start?
Solicitors
The Probate Registry
Probate Registries and their local Probate Offices
Where else can advice be sought?

9. Documentation
Death certificate
What is a grant and why is it necessary?
What are all these forms for?

10. Valuing and Administering the Estate
How to start
Property
National Savings certificates
Premium Bonds
Insurance
Bank and Building Society Accounts
Shares and other Investments
Other income
Hire Purchase
Listing the valuations
Administering a trust

11. What Happens in Scotland?
What is a 'small estate'?
Rights
Estate checklist
What does it all mean?
Children
Heritable property
Intestate estate
Does divorce alter a will?
Debts
Useful addresses

12. Winding Up an Estate
Property
Bookkeeping
Tax returns
Accounts
Distributing legacies
Final accounts
Capital accounts
The closing stages

Appendix 1: Probate Checklist
Appendix 2: Probate Fees Payable by a Personal Applicant in England and Wales
Index
Index of Advertisers

Authobiography of Marlene Garsia

MARLENE GARSIA is a professional writer and editor based in Kenilworth. She drew on the expert advice of solicitors and registrars, and consulted a tax consultant in producing this book.