Kent Solicitors

When someone dies, their assets are frozen and beneficiaries often wonder why the estate cannot be distributed straight away.

The Executors named in the Will, or the Personal Representatives if there is no Will, have to go through certain formalities.

The Executors first job, after the funeral arrangements, is to establish and identify the value of all assets and debts. This can take time, especially if the estate has funds spread over several different accounts.

Once the information is complete, the Executors will apply for the “Grant of Probate” which will enable them to close the accounts. Before they can obtain the Grant, the Executors need to swear an Oath to administer the estate correctly and complete an Inland Revenue Account. There may be a portion of Inheritance Tax to be paid before the Grant can be issued and the Executors have to arrange to release funds from a bank or building society to pay this, or possibly take out a loan.

So why does it appear to take so long? The Executors have to pay debts and other expenses and legacies, deal with lifetime tax and Inheritance Tax, including in some cases, negotiations with the Revenue over the value of certain assets.

Executors will normally place adverts in a local papers to see if there are any other claims on the estate. This is important, because if the adverts are not placed the Executor will be personally liable for any debts that come to light in the future, if he or she has already distributed the estate.

Acting as Executor is a responsible and time consuming job. Kaslers Solicitors LLP can help so that the estate is administered promptly and efficiently and advice is given to keep tax liabilities to a minimum.

Telephone Vanessa Adamson on 01622 844607 for further information.

Labels: Executor Wills Probate beneficiaries

When you enter into a contract to supply goods or services do you make sure you know exactly who you are dealing with and who is responsible for payment of your invoice?

We often find in debt collecting matters that our client has not made proper enquiry as to the true identity of their customer. It may be a limited company, a partnership or an individual trading in his or her own name, or under a trading name. It is not necessarily the person who places the order who is responsible.

If it becomes necessary to issue proceedings to recover a bad debt this failure can cost time and money and may even lead to proceedings being issued against the wrong party and a costs order against you.

Labels: customers debts payments

Since 1st October 2006, Landlords have had to carry out a fire safety risk assessment on properties with common areas e.g. flats, maisonettes, and houses in multiple occupation (HMO).

Not only is it a criminal offence for a landlord not to do this assessment, it may invalidate the buildings insurance.

Labels: fire safety risk assessment

The National Minimum Wage increased on 1st October 2008

The minimum wage is a legal right which covers almost all workers above compulsory school leaving age. There are different minimum wage rates for different groups of workers as follows:

The main Adult rate (for workers aged 22 and over) is currently set at 5.73 an hour.

The development rate for 18-21 year olds is currently set at 4.77 an hour.

The development rate for 16-17 years olds is 3.53 an hour.

Labels: minimum wage

The deceased died in an accident aged 44, never having made a will.

His parents, long since divorced, were jointly entitled to administer his estate, and disagreed about where he should be buried.

The mother, by her own admission, had had only limited contact with him in recent years

The court decided that the wishes of his father and other family members and friends should prevail, since he was closer to them

No doubt much money was spent arguing this point, which could have been saved if he had made a will appointing Executors he trusted to carry out his own wishes

Labels: Intestacy funeral arrangements

What are the possible consequences? Is the question you must ask yourself if you are asked to assist in the funding of court proceedings.

It is clear that your contribution may be at risk if the party you assist loses their case, but what you may not realise is that you may be ordered to pay additional costs.

If you are a director of a company or as relative or friend you give money to assist in the funding of litigation, you may be made the subject of a third party costs order at the conclusion of the case. If you find yourself in this position you should seek advice as to your possible liability.

Labels: third party costs

An Employer dare not just agree a compensation package with a leaving Employee. The Employee may pocket the money and still sue the Employer for any or more of the many possible employment claims – unfair dismissal, wrongful dismissal, unfair selection for redundancy, discrimination on the grounds of race, sex, and religion age and so on.

The only thing an Employer can do to prevent this is by requiring the Employee to sign a properly drawn up compromise agreement in front of a solicitor. The Employer normally foots the bill of the solicitor, so there is no cost to the Employee

We draw up such Compromise Agreements and in other circumstances, we act as the solicitor advising the Employee on one. Amongst many other things, the Employee wants to know whether the compensation package could be bettered, what the tax implications are and the limits of any restrictions imposed

Call Michael Breeze 07 900 915.195 www.docklandssolicitor.co.uk

Labels: compromise agreement employment dismissal

There is now a statutory duty on directors to avoid conflicts of interest, to declare interests in transactions and arrangement with the company; and not to accept benefits from third parties.

Labels: Company Directors Conflicts