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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’.

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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.

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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.

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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.

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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.

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Blog

  • The Ongoing Trend Of Leaving A Digital Legacy (231) 25/06/2019

    By the end of this century, the number of dead people on the popular social media network,...

  • Lasting Power Of Attorney (228) 19/06/2019

    A Lasting Power of Attorney (LPA) is a very important document that allows you to appoint people...

  • What Is The Difference Between Probate and Estate Administration? (273) 13/06/2019

    When someone close to you dies, it is easy to get overwhelmed by all of the tasks to be considered and the...

  • What Happens To Property When Someone Dies? (296) 07/06/2019

    One question that we frequently get asked is “What happens to a property when someone dies?” and...

  • Trust You (322) 01/06/2019

    Why You May Require a Trust According to research the main reasons why people want to create a...

  • Mick and Brenda (320) 26/05/2019

    This story is about a couple called Mick and Brenda who celebrated their 50th Golden Wedding...

  • Cryptocurrency (339) 20/05/2019

    The best way to ensure your estate, including digital currencies, are distributed as per your...

  • Disabled Discretionary Trusts (297) 14/05/2019

    So, what is a Disabled Discretionary Trust? It is a legal arrangement whereby assets (money,...

  • Estate Administration (316) 08/05/2019

    Estate administration is the process of dealing with a person’s legal, financial and personal tax...

  • How Much? (401) 02/05/2019

    The price of a Will and the other important stuff that we do. We, at Stephen James Drury &...

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