Archive for the ‘Wills and Executries’ Category
Thursday, November 24th, 2011
A new body has been launched to try to end what is perceived as the “taboo” in Scottish society which prevents open discussion of death dying and bereavement. The group called “Good Life Good Death Good Grief” is funded by the Scottish Government and its aims are supported by a number of major charities. At the recent public launch of the group in Edinburgh a number of speakers, including poet Liz Lochead, poignantly described their experiences where a death affected their families.
The thinking behind the new initiative is that a lot of harm to society arises from the taboo stopping us discussing death openly. This harm manifests itself in many ways from the inability to communicate comfortably with a friend or work colleague, who has suffered bereavement – to families becoming involved in legal disputes because someone died without making a Will. We even seem as a society to have difficulty communicating with people who are dying. One terminally ill speaker, at the launch, explained how a number of her best friends had simply stopped contacting her once they know she was ill.
The new group believes that a new open approach, to death dying and bereavement, will hopefully help educate people to behave a bit differently and to deal better with all the issues involved round death, whether with friends or families or in the workplace.
Caesar and Howie support the aims of Good Life Good Death Good Grief. Managing Partner David Borrowman commented “I think the group’s aims are laudable and cover many aspects of life. But, just taking the legal issues involved there is no doubt whatsoever, that families cope much better with adverse events if some basic legal preparations have been taken. Frankly, every adult should prepare a Will, a Power of Attorney and an Advance Directive, which is a statement of their treatment preferences in the last stages of illness. If everyone were to take these simple and cheap legal steps much distress and difficulty and unnecessary expense for families would be avoided. And remember, many pensioners in Scotland can get legal aid for Wills, Powers of Attorney and “living wills” so there may be no expense involved at all”.
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Monday, July 26th, 2010
David Borrowman from Caesar and Howie discusses some of the issues brought up by clients considering granting Powers of Attorney.
Some clients worry about granting a Power of Attorney. Sometimes a client will say “I wouldn’t trust X to look after my affairs properly.“ It is easy to deal with that – in such a case under no circumstances should X be appointed as an attorney. There is no entitlement to be appointed someone’s attorney just because of a blood relationship. So if clients have unreliable relatives they just should not appoint the relatives as attorneys. The whole idea of appointing an attorney is to give powers to someone to act for your benefit and your benefit alone – consequently if a client has any doubts as to the integrity of the person to be appointed – the appointment should not be made.
Assuming a satisfactory person is found, clients can be reassured that person cannot simply do what he or she likes with the affairs of the incapacitated person. Attorneys are bound by a strict code of law laid down in the Adults with Incapacity Scotland Act. Of course they should only act, at all, if the person who made them their attorney is for some reason (usually but not always illness) not capable of dealing with things himself or herself. And when an attorney does act he or she must adhere to five principles laid down in the Act. Simply put these are: 1. There must be no intervention unless for the benefit of the adult – “adult” being the name used for the incapacitated person in the Act. 2. Any intervention must be the least restrictive option in relation to the freedom of the adult. 3. Account must be taken of the present and past wishes of the adult. 4. Account must be taken of the views of others, eg the nearest relative or primary carer. 5. The attorney must encourage the adult to exercise whatever skills he or she has with respect to property etc.
In common sense terms being bound by these principles the attorney I suppose has to exercise his powers effectively acting in the way the adult would have acted had the adult not lost capacity.
Should an attorney breach the principles in the Act or act improperly then the Act does allow for robust sanctions. The Public Guardian, the Mental Welfare Commission and Local Authorities and indeed any person claiming an interest in the affairs of that adult can apply to the court to safeguard the property, financial affairs or personal welfare of the adult. The sheriff then has significant powers to resolve matters including placing that attorney under supervision of the Public Guardian, requiring accounts and reports to be submitted to court, even as far as revoking the appointment of the attorney. On top of all that of course criminal law could come into play if an attorney used his powers to affect a criminal act.
In short there is in place a significant body of law designed to protect a vulnerable adult against an attorney acting improperly – clients can be reassured on that point.
However, the main consideration in choosing an attorney is the honesty and integrity of that person. Powers granted to such a person can make families’ lives so much easier should incapacity strike.
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Thursday, June 10th, 2010
One of the most important documents anyone will sign in their life is their Will. The purpose of a Will is legally to transfer a person’s property to other parties on death. That means the Will itself is a document of fundamental legal effect. It should be written in such a way as to comply with the mass of law surrounding the transfer of property and the validity of legal documents. Despite that, in Scotland Will writing is not regulated at all – anyone can call themselves a Will Writer and many people do operate as Will Writers who have no legal training. The Scottish Government has now announced that it intends to close this loophole and put in place a regulatory framework under which Will Writers will have to operate.
Caesar and Howie welcome this move. Senior Partner Ivor Klayman comments:
“This proposal is important and in my view cannot come quickly enough. I’m sure there are capable non – solicitor Will Writers out there but that is not the point. How can clients be sure that a Will Writer has the necessary legal expertise to write a Will validly and safely? Only regulation can give some comfort here and I am all for that.”
Sarah Patrick, Executry Partner at Caesar and Howie agrees. “I’m afraid I have seen some not great work done and high fees charged by non – professional Will Writers – even if this is not the story across the board. But, I have had a long and arduous legal training – as do all lawyers – and I think that it is necessary to have this background to prepare Wills safely.”
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Wednesday, November 18th, 2009
Caesar and Howie attended the Retirement Show at the SECC this year. This was a first for the firm. We shared a stall with our very good friends from the Glasgow Old People’s Welfare Association – to whom we are very grateful for their co-operation. The show pulled in a huge attendance of retired folk from all over Scotland. Our plan was to try to get over to as many folk as we could the benefits of planning for the future and putting in place these three key legal documents for families, Wills, Powers of Attorney, and Advance Health Care Directives. We also wanted to get over the benefits of Equity Release which we see becoming increasingly popular with our clients.
Terry Ann O’Donnell from Caesar and Howie ran the stall for two days. “The level of interest in what we are trying to say to people was just fantastic” said Terry. “Actually I was run off my feet and we completely ran out of leaflets twice and had to rush in new stocks. What struck me is that so many people just haven’t planned for the future because they just haven’t thought about things. Once you explain to them the benefits of taking, really the modest legal steps you need to protect families, they are keen to get on with getting them put in place. It is pretty frightening, mind you, to find out how few people know about Powers of Attorney for example. A lot of folk also had not really thought about the benefits of Equity Release, giving some extra cash in their later years. But hopefully, we managed over the two days to get the message over to lots of visitors at the show.”
Caesar and Howie attended the Retirement Show at the SECC this year. This was a first for the firm. We shared a stall with our very good friends from the Glasgow Old People’s Welfare Association – to whom we are very grateful for their co-operation. The show pulled in a huge attendance of retired folk from all over Scotland. Our plan was to try to get over to as many folk as we could the benefits of planning for the future and putting in place these three key legal documents for families, Wills, Powers of Attorney, and Advance Health Care Directives. We also wanted to get over the benefits of Equity Release which we see becoming increasingly popular with our clients.
Terry Ann O’Donnell from Caesar and Howie ran the stall for two days. “The level of interest in what we are trying to say to people was just fantastic” said Terry. “Actually I was run off my feet and we completely ran out of leaflets twice and had to rush in new stocks. What struck me is that so many people just haven’t planned for the future because they just haven’t thought about things. Once you explain to them the benefits of taking, really the modest legal steps you need to protect families, they are keen to get on with getting them put in place. It is pretty frightening, mind you, to find out how few people know about Powers of Attorney for example. A lot of folk also had not really thought about the benefits of Equity Release, giving some extra cash in their later years. But hopefully, we managed over the two days to get the message over to lots of visitors at the show.”
Tags: Equity Release
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Monday, December 31st, 2007
Firms are set to use 2008 to solve their pension problems, according to Deloitte.
The financial services company voiced the prediction as it revealed that the final salary pension schemes offered by Britain’s largest 100 companies will have an aggregate surplus of £15 billion at the end of 2007.
Over the year, the surplus will have improved by more than £55 billion, according to Deloitte, reflecting both positive investment returns and falls in the prices of government bonds following the subprime mortgage panic.
“Over 2008 companies will be looking to solve their pension problems for good,” commented David Robbins, a pensions partner at Deloitte.
Critics of the assessment point out the role the credit crunch has played in the improvement, claiming that the core strength of the UK’s final salary pension schemes remains in doubt.
In related news, talks are scheduled later today between BAA and air transport workers unions aimed at avoiding strikes over the company’s closure of its final salary pension scheme to new employees.
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Friday, November 9th, 2007
The widow of a well-known figure in Edinburgh law circles has been left more than she may have bargained for in her husband’s will.
Gladys Corbett is allowed to carry on living in the family home she shared with her late husband Ian, but may have the property taken away from her if she remarries.
Mrs Corbett has no legal ownership of her husband’s share in the Edinburgh property as it has been left to her as a life-rent.
Should she remarry, the executors of Mr Corbett’s estate would be left to decide what to do with the share, which could include awarding it to a third party.
Aside from the Edinburgh house, the remainder of Mr Corbett’s estate was left to his wife directly, meaning that she owns it outright.
Consumers may wish to seek legal advice when considering writing a will to gain a fuller understanding of intricacies that they may be unfamiliar with.
The late Mr Corbett represented his friend Sir Sean Connery in a number of legal matters.
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Thursday, November 1st, 2007
Almost four-tenths (39 per cent) of retirees would be prepared to release equity from their home to improve their finances.
Such is the result of a recent study by equity release firm Home & Capital Advisers, which found that other means considered by senior citizens to improve their financial situation included downsizing their home (21 per cent) and selling valuable possessions (12 per cent).
Nigel Hare-Scott, managing director of the company, stated that rising costs of commodities such as energy, council tax and food put pressure on day-to-day finances, reports the Press Association.
"Many of them live on a limited income with little or no scope for an increase, particularly since the state pension has not kept up with inflation," he said.
Consumers may find that it is advisable to obtain legal advice prior to releasing equity from their home, to find out their position in the eyes of the law.
A recent study by Norwich Union indicated that one in ten retirees cut back on heating costs, clothing and socialising as they worry about bills.
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Wednesday, October 17th, 2007
Recent research has indicated that one in ten retired people cut back old holidays, socialising, clothing and even heating costs as they worry about bills.
A study by Norwich Union has also indicated that two-thirds of people over the age of 60 survive on less than £10,000 per year.
The survey suggested that of all the regions in the UK, Scotland ranked last in the list of those most likely to make changes to their lifestyle to finance their retirement with only 26 per cent of respondents indicating that they would do so.
Dominic Fraser-Smith, group product manager at Norwich Union Post-Retirement Products stated that senior years should be enjoyed by older people and they should not have to resort to methods such as cutting down on heating.
Mr Fraser-Smith identified equity release as "an option those approaching retirement should consider as part of their retirement planning".
It may be advisable for consumers to seek legal advice before carrying out any form of significant financial transaction – such as equity release – to ensure that they are fully aware of any possible ramifications the process might involve.
Last month, research by Prudential indicated that people over the age of 65 in Scotland have some £41.6 billion of property equity.
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Monday, September 17th, 2007
The process of dividing up the estate of a deceased person is helped by having a will, an independent financial advisor said today.
Managing director for Paladin Financial Services Tim Purdon stated that although not having a will is rarely a major obstacle to dividing up the assets of someone after their death, if on is in existence it makes the process easier.
Mr Purdon added that taking into consideration what you wish to happen to specific contents of your estate when making out a will – such as expensive antiques or collections – can prevent them being split up among the family and reducing their value.
He also recommended that even though planning for death is often difficult for consumers, consumers should update their wills and life assurance "on a regular basis".
Insurer LV= recently advised consumers to add their valuable items – which may include possessions to be left in wills – to their home insurance policies to protect them.
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Monday, September 10th, 2007
Consumers should examine their will every five years to ensure that people who will benefit from it are still alive and living at the same address, according to an independent financial advice firm.
Paul White, spokesperson for Belgravia, commented that it is "very difficult" for an individual to get probate if they are not physically in the country, noting that administration could be a "nightmare" when nominated executors live abroad.
He added that new additions to a family may also require changes in a will to be made.
If there were no second generation people in the family at the time of a will being written then a rewrite may be required in order to take them into account or to allow benefits to be passed on should their parents predecease them.
Recent research from Barclays Wealth indicated that 63 per cent of people in the UK have no will.
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