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By the end of this century, the number of dead people on the popular social media network, Facebook, is expected to outnumber living members – turning it into the world’s biggest ‘virtual graveyard’.
A Lasting Power of Attorney (LPA) is a very important document that allows you to appoint people who you personally know and trust, or professionals, to make decisions on your behalf and look after your best interests should you lose capacity.
When someone close to you dies, it is easy to get overwhelmed by all of the tasks to be considered and the unfamiliar language associated with them. So, this article aims to answer some of the most common questions associated with handling an individual’s estate after they have died including ‘what is probate? ‘and ‘what is estate administration’. They’re both related to dealing with the deceased’s estate, but they have different definitions and people often get the two confused.
One question that we frequently get asked is “What happens to a property when someone dies?” and it’s important that you understand the answer if you are administering a deceased person’s estate. This article takes a look at who is responsible for the property when an owner dies, what happens to the property and what could be involved in dealing with a property after death.
Why You May Require a Trust
According to research the main reasons why people want to create a trust is to be able control their assets, for example, to prevent children from gaining access to money or property before they are mature enough to handle it safely and effectively. Saving tax was not so important.