What will happen to our shared property if my partner passes away?

While purchasing a home with your partner can be an exciting prospect, it's important to consider the legal ramifications, especially in the case that one of you passes away. If you are not a lawyer, it is especially crucial because there is a lot of legal jargon that could make things complicated to understand. Ex-judge and author, Stephen Gold has spoken at length on the matter. He said: If you are joint tenants, when one of you dies during ownership, their interest automatically passes to the other - which could mess things up. For example, your Will may have gifted your interest to your children. That won't count. But if you own as tenants in common, you are each free to gift your interest to a third person although you can still gift to the other…

Claiming compensation for negligent financial advice

Sometimes we need to make a financial decision that is of such importance we decide to pay for professional advice. This may be from an accountant, a tax specialist, a pensions expert, a mortgage consultant, an independent financial advisor, a land valuer or surveyor, or even a lawyer offering financial or tax planning services.   By seeking professional input, we aim to arm ourselves with the information needed to ensure that the decisions we make are well-informed and that they are geared towards helping us to safeguard or improve our financial fortunes rather than making them worse. So where do you stand if you discover, possibly months or even years down the line, that the advice you have been given may be wrong or inappropriate and where it is likely that your financial interests have been harmed…

Seven out of ten parents in Yorkshire have no legal guardian in place to care for their children in the event of their deaths

Research commissioned by SFE (Solicitors for the Elderly) and Ware & Kay Solicitors shows 67% of parents in Yorkshire have no legal plans in place to make sure their children are looked after, should the parents die. According to the research, parents in the region are almost completely unaware of the risks of not identifying a legal guardian in a will. Only one out of ten of parents understand that social services or the courts can step in to decide what happens to your children if you don’t have a will in place. SFE, a membership body of over 1,700 UK solicitors specialised in advising people planning for the future, is calling on parents to make sure they have an updated Will in place ahead of Update Your Will Week 2023 (23rd – 29th January). Sian…

Key considerations for buying a home off plan

Does the idea of a brand-new home appeal to you? If so, you are not alone as the last two years have seen a dramatic rise in the number of people buying off plan. Whether you are looking for your forever home, an investment property, or a holiday hideaway, buying off plan has its own challenges. Holly Stevens, Director & Head of Residential Property with Ware & Kay in York explains, ‘As with any property purchase, you should do your homework and consider all the pros and cons. Buying off plan also raises some specific legal issues, so it is important to get advice from the right professionals.’ Here she answers some of your questions. What exactly is buying off plan? Buying off plan involves committing to purchase a property you have not seen…