Knowledge Base

Is property that I own overseas covered by my will?

by | | Help: Legal, My Assets, Knowledge Base |

With Affio, you can specify that you want your will to cover your assets in the UK, or your assets throughout the world. If your assets are situated outside of England and Wales, or if you are domiciled outside England and Wales, then the applicable law where the assets are situated, or the the law of your domicile may affect the way your will operates. If you’re concerned about this, you may want to consider getting legal advice or making a second will in the country where you own the prope

What happens to my estate if I die without a Will?

by | | Knowledge Base, The Basics |

If you die without a valid Will the state will dictate how your money, property and possessions are distributed. It does this by applying a set of rules – the intestacy rules – which don’t always reflect modern family arrangements and may mean your estate is not being distributed as you would have wanted. In particular, unmarried partners are not recognised by the intestacy rules. The intestacy rules refer to the deceased’s “issue” – that is all his or her direct descendants including adopted a

What is meant by my 'estate'?

by | | Knowledge Base, Glossary |

In basic terms your estate is everything you own, less anything you owe. So that’s your property, money, investments, vehicles and possessions, less your debts for example: money owed on loans, mortgages or to the tax man. Most of the things you own can be dealt with in your will, the main exceptions are: * Money held in joint accounts – which will automatically go to the other account holder. * Property which is owned on a joint tenant basis – where your share of the property will go

Where should I store my will?

by | | Knowledge Base, What Happens Next |

The best answer to this question is somewhere it can be found! After all what’s the use of having a perfectly drafted and legally valid will if it is hidden away or locked in a fireproof safe and no one has the combination? Legally you can store your will anywhere you like – the most important thing is that your executors know where it is and can be accessed as soon as possible when you die. You could consider using the services of certainty.co.uk – The National Will Register, who for a fee, a

How can I change or update my Will?

by | | Knowledge Base, The Basics |

Things change all the time, so it’s important you review your Will on a regular basis or when anything big happens in your life which is likely to affect the choices you’ve made. Typical reasons for changing your Will * If you have children (more children) or grandchildren. * If you get married – marriage automatically revokes a Will in England and Wales (but not in Scotland). * If you get divorced. * Someone named in your Will as a beneficiary, executor or guardian has died. * If there