Cohabiting couples are on the increase in the UK, being the fastest growing family type over the last decade as well as the amount of divorced couple who have either remarried or simply changed their name. Because of this growing family type you will find that a large percentage of children in England and Wales do not now have the same surname as both of their parents.
When travelling abroad Border Control may ask you to prove the relationship between yourself and any child travelling with you if you have a different surname. These checks are designed to help prevent child abduction.
The legal terminology is “conveyancing” this is simply the legal process of changing the ownership of property from one person(s) to another.
We know that the process of buying a house can be a stressful and probably the most expensive asset you will ever own. Therefore it is important that you chose your solicitor carefully, not just instruct whoever your estate agent recommends. Estate agents might recommend a solicitor as they often work in partnership with certain firms. This could end up being a more expensive option for you. Here are some tips on how to choose the right firm for you;
At the moment you can leave as an individual £325,000 free of inheritance tax – 650,000 as a married couple. From 6 April 2007 new allowance is being introduced which is often referred to as the main residence allowance. Initially the allowance will be limited to the first £100,000 of equity in your home, but will increase by 25,000 a year and by 2020 it will be worth £175,000 – or £250,000 as a couple.
A Lasting Power of Attorney (LPA) is a term many people are familiar with but aren’t exactly sure what it means. An LPA enables a person (called the Donor) to empower another person (called the Attorney) to make decisions on their behalf.