Brussels IV is the solution to the forced heirship provisions, which can currently thwart the best laid plans of British Will-makers. However, what many people are not aware of is that the new rules will only benefit those British nationals who have taken appropriate action during their lifetime by drafting a new Will.
Being asked to act as an Executor by a friend or member of the family can be flattering, as it shows they trust you to handle their financial affairs. But remember that by accepting you will have to take on a lot of responsibility.
Could your children’s inheritance finish up in the hands of a bankruptcy administrator? Watch this interesting animation.
Are you passing an Inheritance Tax problem down the generations? Watch this interesting animation.
Will all your assets be expended on paying for future long term care so there will be nothing left for your children? Watch this interesting animation.
A common concern is that, following your death, your Partner remarries and your children’s inheritance finishes up with that new family. If this is a concern, watch this animation and then call me to discuss how an updated Will can help allay your fears.