Wednesday Guest Blog

Jeremy Frost of Frost Business Services writes:

I am very lucky that I get to deal with a good number of different things during anyone week.  This week is no exception.

On the one hand have been involved in a very contentious Liquidation where all the Company papers have alledgedly been lost (by me if you believe some stories! ) and it is very clear that none of the parties one would usually go to for information hold any credibility.

As Liquidator I am the arbitrator of first resort.  I have so little information and have a considerable amount of “third party gossip” concerning a number of side deals, changes made to papers and withholding papers etc.  If I had limitless resources then my response is clear.  Sue and be damned.  None of you are good witnesses!  But do I really want to be involved in potentially years of litigation, funded by my personal resources?

But you must be confident of winning I hear you ask.  My response is simple.  Even when you think you have everything straight, matters can come up and judges can take decisions which look quite bizarre from below the bench; And when you have three individuals, who you have faith in, all confirming a story that you believe not to be true, but just can’t get enough info to rubbish it, then you are left with my word against theirs?   So doe anyone know a decent lawyer to ask for advice?

At the other end of the scale I am attempting, with the assistance of others to plan a new theatre for Croydon in my role as Administrator of the Warehouse Theatre.  If it was just a business plan then that would be simply.  Before that though we have to convince the powers that be that what we planning works on a variety of cultural and planning bases to fit within the various planning consents.  Oh yes and it has to make money too!  That will be easy then.

Jeremy Frost FABRP MIPA, Director  Frost Group Limited

Tel: 0845 260 0101   Fax: 020 8915 1018    http://www.frostbr.co.uk

Freedman Alexander LLP  – solicitors in Epsom and Ewell – http://www.fallp.co.uk  

Why You Should Make a Will

As a Wills, Probate and Trusts Solicitor I am amazed at the number of people who put off making a Will.   There are many reasons why you should make a Will, but the simple fact is that the ownership of any possessions, whether money, property or otherwise, needs to be covered by a Will.

If you die without a Will you are said to die intestate.  There are certain statutory rules, which cover how the money, property or possessions should be allocated.  There are limits as to the amount that the surviving spouse and children inherit and this may not be the way you would have wished your money and possessions to be distributed.  It could mean that certain people who you did not want to benefit from your estate are given a share and those who you did want to look after are given very little.

Unmarried partners and partners who have not registered a Civil Partnership cannot inherit from each other unless there is a Will.   The intestacy rules do not make provision for them.   This means that the death of one partner may create serious financial problems for the remaining partner.

If you have children, you will probably want to set up a Will Trust so that they inherit at a particular age.  You will also need to name Guardians in case both parents die.

Carefully drafted wills can ensure that you do not pay more Inheritance Tax than is necessary.  We can provide advice on Inheritance Tax and suggests ways in which the Tax can be minimised.

Particular circumstances lend themselves to having a professionally drafted Will.  Some examples are where: –

  • You share a property with someone who is not your husband, wife or partner
  • You wish to make provision for a dependent who is unable to care for themselves
  • There are several family members who may make a claim on the Will, for example a second wife or children from a first marriage
  • Your permanent home is not in the United Kingdom or you are resident here but have overseas property
  • There is a business

If you would like advice as to the costs for preparing a new Will give me a call on 0208 393 0941.  I am a qualified practitioner with the Society of Trusts and Estates Practitioners.

Graeme.Aston@fallp.co.uk http://www.fallp.co.uk