Month: July 2022

If you have previously dealt with solicitors when preparing your Will or dealing with a bereavement, you may have recently heard about the new Trust Registration Service (TRS) requirements.

New laws have recently come into force meaning that any trust must now be registered with the TRS (which is part of the Government website). The deadline for registration is 1^st September 2022.

What needs to be registered?

Whilst most people think of trusts as something for the wealthy, trusts are actually much more wide-ranging. Many people could be holding trust property, or benefitting from it, without even knowing!

The following are some common types of trusts that now need to be registered:

• A life interest trust in a Will – this structure is often used for care fee planning, or to protect assets for the children from a previous relationship;

• If you are acting under an Enduring Power of Attorney (EPA), a financial Lasting Power of Attorney (LPA) or a financial Deputyship created by the Court of Protection;

• If you are the Executor of a Will, and the deceased left gifts to a person who is under 18 or lacks capacity;

• If you are the Executor of a Will, and the deceased left gifts to people when they reach a certain age (eg. 21 years) and they haven’t reached that age yet;

• A discretionary trust (either in a Will or made during your lifetime) – where you put all of your assets into a pot and your trustees can decide who inherits what and when they get it;

• Most trusts created during your lifetime;

• Ownership of a property where a third party has an interest. For example, if you helped your child buy a house and they are the sole legal owner, but they are going to repay you when the property is eventually sold;

• Executors dealing with an estate that is not finalised within 2 years of the person’s death.

This is not an exhaustive list and if you are concerned,
you must approach a solicitor as soon as possible
to discuss if you need to register your trust.

What if I don’t register?

If you fail to register the trust by the 1^st September 2022 deadline, you could be subject to financial penalties from HMRC. It is therefore vital that you seek advice if you have any concerns – as the deadline approaches, professionals will become busier and so the longer you leave it, the more likely you are to miss the deadline.

How can we help?

At Lawson West, our lawyers can quickly advise whether or not you might need to register and can even register the trust for you if needed.

To discuss your circumstances, please call 0116 212 1000 or Contact Us here, selecting option ‘Probate, Wills and Trusts’ as the legal matter.

A loved one has passed away, and to make matters worse, their Will is not what you expected. Whilst this could be for a variety of reasons, it’s an issue you want to resolve.

Little or No Provision in the Will

If you have concerns about not being included in a Will, or you’re not happy with the amount you’ve been left, the first thing to consider is whether you fall into one of the following categories?

1. The spouse or civil partner of the deceased;

2. a former spouse or former civil partner of the deceased, but not one who has formed a subsequent marriage or civil partnership;

3. someone who has for at least 2 years prior to the death of the loved one have lived together as husband and wife or civil partner;

4. a child of the deceased;

5. any person (not being a child of the deceased) who was treated by the deceased as a child of the family;

6. any person who immediately before the death of the deceased was being maintained, either wholly or partly, by the deceased.

If you do fit into one of these categories, then you can potentially bring a claim under the Inheritance (Provision for Family and Dependants) Act 1975. There are various circumstances and considerations the Court will take into account, including your financial reliance on the deceased, and it is best to take advice on this as soon as possible.

There is a timeframe of 6 months from the date of the Grant of Probate/Letters of Administration to bring a claim, therefore if you are considering a claim, time is certainly of the essence.

Validity of the Will

Whether you fall within any of the above categories or not, you may have concerns surrounding the validity of the Will. Whilst validity can be questioned for a variety of reasons, the two most common are where the deceased may not have had the requisite capacity to make a Will, or where the deceased has been unduly influenced into making a Will.

As solicitors, there are a number of different avenues we will take to investigate the position. These avenues may include obtaining the deceased’s medical notes, records or raising direct queries with those who drafted the Will.

Whilst the 6 month deadline does not apply to claims concerning validity, it is best to consider any claim as soon as possible, as should the estate be distributed in accordance with a potentially invalid Will, it could make the situation far more complicated.

If you are looking for advice on any potential claim, or simply wish to seek assistance as to the initial steps, please contact our Dispute Resolution Team here at Lawson West Solicitors. Contact Us.