In this episode of our Ask the Expert series, Dawn Oliver, Head of Wills, Trusts and Estates, puts the questions you submitted on making a will, setting up a trust and what is involved in being an executor to partners David King and Alex Taylor.
Conversation topics include (timings are in brackets):
- (00:30) What happens to a person’s assets if they don’t make a will?
- (01:50) If someone is shielding and unable to meet with witnesses to sign their will, can this be done remotely and if so how?
- (03:49) Can a will cover digital assets such as photos stored on computers, online bank accounts and cryptocurrency and if so, how does an executor access these?
- (06:32) How can trusts be used to protect someone’s assets for both themselves and their family?
- (09:10) Are there any disadvantages of a trust?
- (11:38) What is involved in being an executor?
- (13:58) Do executors get paid?
- (15:30) What happens if circumstances change and executor can no longer carry out their duties?
- (17:45) What happens if someone tells you they have left you something in their will, but you have still not heard anything some time after their deaths?
- (20:40) How can you pass inheritance on to another generation and are there any tax consequences?
- (23:12) Are there any benefits to leaving gifts to charity in a will?
You can submit questions to [email protected]