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When choosing a solicitor to advise on your future planning, it’s important that the solicitor you choose has extensive knowledge, qualifications and experience. STEP is a worldwide professional association comprising of lawyers, accountants, financial advisors and other practitioners that assist families planning their future. Full STEP members, known as “TEPs” are internationally recognised as experts.

What do STEP members do and what is a TEP?

STEP members are specialists in inheritance and succession planning and draft Wills, Trusts, administer estates, act as Trustees and advise families on a range of private client services.

“TEP” stands for “Trust and Estate Practitioner” and is the designation given to full STEP members. In order to become a TEP, practitioners must have a combination of specialist qualifications and experience.

Why is STEP important?

Inheritance tax, succession planning and Trusts is a vast area of law. In order to provide holistic advice, specialist knowledge is therefore required to understand how one action might impact on a client’s other circumstances.  Using a member of STEP ensures that the Solicitor will possess this knowledge.

We want to be able to give the best possible service to our clients and this is one of the main driving factors behind STEP. All STEP members are subject to an extensive Code of Professional Conduct  and STEP’s Will Code, requiring members at all times to act with integrity and in a manner that encourages the confidence, respect and Trust of clients and also the wider community.

STEP represents the most experienced and senior practitioners in the field of Trusts and estates. They are highly qualified individuals and are required to keep up to date with the latest legal, technical and regulatory developments, meaning that clients can be confident in the advice that they are given.

The organisation itself has professional standards which make clear that members must uphold the reputation of both STEP and the field of Trust and estate practice, again ensuring client confidence.

Franklins and STEP

At Franklins we understand the importance of STEP and are fortunate that all our Team are members or working towards membership of the highly prestigious STEP organisation. For more information on why to use a TEP, click here.

For more information on the preparation of Wills and Trusts, contact Helen Taylor, Partner & Head of Private Client and the Team on 01908 660966 / 01604 828282 or email PrivateClient@franklins-sols.co.uk.

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When we think about making a Will, very few of us realise digital assets can be included, let alone consider including them. Much of the law governing Wills dates back to the Wills Act, which was passed in 1837, so it’s understandable. However, it’s worth thinking about including them.

What digital assets you can include in your Will

Digital assets can have significant value. Cryptocurrencies, such as Bitcoin, can be extremely valuable. But equally, it can be easily overlooked and lost if your computer is discarded.

More commonly, online banking facilities, such as PayPal and online shopping accounts, should be considered.

In today’s digital world, it’s likely you have at least one social networking account, such as Facebook or LinkedIn, if not more. Think about what you’d want to happen to these when you pass away. How will your Executors know exactly what online social media accounts you have and how to access them?

It’s also worth thinking about anything digital with sentimental value. Many of us have photos, videos and music stored in the cloud. Access to these is often based on license agreements, so you can access them, but you may not have any rights to these items. With this in mind, you should back-up items so you, and those that survive you, can access them.

What should you do about these assets?

For all of these digital assets, consider including a note in your Will, so your Executors know where to find them and how to access them when they’re administering your estate. For digital assets with financial value, it’s worth discussing them with a solicitor, as it could affect your Inheritance Tax position.

If you’re considering including any digital assets in your Will, our expert Private Client team can give you advice and support. Please get in touch on 01908 660 966 / 01604 828282 or email PrivateClient@franklins-sols.co.uk.

You may have seen the announcement by the Ministry of Justice on 25^th July 2020 advising legislation coming into effect in September 2020 which enables individuals to video-witness the execution of their wills if they are unable to observe the normal formalities, and cannot have two independent witnesses present.

For many this has been a welcome advancement in light of the current pandemic which resulted in many having issues executing their Wills to ensure that their wishes will be followed. Having said this, there has been a lot of speculation as to how this will work in practice and much concern has been aired in relation to the potential of increased probate litigation as a result.

So, is it really as easy as it may sound to simply sign your Will using video facilities such as Skype, Zoom or Facetime? The simple answer is no.

I have set out below some guidance provided by STEP in their recent briefing note to provide some further information in respect of the process:

Step 1: The Will maker (Testator) must ensure that both witnesses (if they are both witnessing remotely) can see them, and each other, clearly. This may involve a three way video call.

Step 2:  The Testator should hold up the front of the will to show to the witnesses and then turn to the page that they will be signing and hold that up for the witnesses to see. The Testator should then sign the Will, making sure that both witnesses have a good line of sight. The Will should be dated. The witnesses should confirm that they can see and understand what they are witnessing.

When signing, it would be advisable for the Testator to say, ‘I first name, surname, wish to make a will of my own free will. I am now signing the will before these witnesses (who should both be named), who are remotely witnessing me sign it.’ Alternatively, a professional will writer will include a specific attestation clause within the Will to cover the remote signing.

Step 3: The Will should then be posted to the first witness. A further video call should take place with all parties present, ensuring the same visibility and line of sight as before. They should hold up the Will to show the cover and signature page. They should then sign and provide their details. They should not date the Will. This process may need to be repeated again for the second witness if they too are remotely witnessing.

It is also advisable that the whole process outlined above is recorded. This is to assist should someone decide to contest the Will at a later date and will provide evidence to the signing and validity of the Will.

As you will see from the above, it isn’t as simple as simply signing your Will via video link and certain practices still need to be carried out. The process itself can also be time consuming with having to send the original Will to each party for signature. This is particularly important when taking into consideration that the Will will not be valid until it has been witnessed by the two witnesses.

Signing your Will by video link may on the face of it seem appealing to many but when considering the steps that need to be taken and the consequences of signing your Will incorrectly, we would strongly advise that this method of signing is only considered as a last resort.

If you require assistance in respect of preparing your Will during this difficult time, please do get in touch with one of our Solicitors in the Private Client team on wills@franklins-sols.co.uk or 01908 660966 / 01604 828282. We have adapted our practices by providing telephone or video appointments to take the your initial instructions, garden appointments if you require a face to face meeting and we are also happy to meet with you to sign your Will if you are struggling to get your own witnesses.

The recent case of McCarthy v McCarthy of 10th July 2020 saw the Court uphold the Will of the late Margaret Wilcox despite the circumstances in which it was prepared being questioned by two of her children who argued undue influence. 

In this case the Will of the late Mrs Wilcox had been written by the beneficiary who stands to inherit the deceased’s property and was subsequently signed in the presence of the said beneficiary’s best friend and his wife. 

It is important to note that despite the Will being upheld by the Court, the manner in which the Will was prepared was considered ‘concerning’ according to the Judge. Although the circumstances were concerning, there were however other factors which affected the Judge’s decision in this case, including a Deed in relation to the same property, and each case will be decided on its own facts.

What this case does highlight is the importance of seeking specialist advice when considering the preparation of your Will as the outcome of this case could have been significantly different given the concerning background facts regarding the manner in which the Will was prepared, together with the late Mrs Wilcox’s Alzheimer’s diagnosis earlier in the year.

Through using a Solicitor, your wishes will be noted together with your reasoning as to why you wish for your estate to be left in a certain way. This will provide evidence to the court should your Will ever be contested in the future and assists with providing a background in respect of the decision making process. Capacity issues would also be noted and any concerns may result in a capacity assessment being undertaken to provide the Will with a greater degree of security.

This case also highlights the importance of documenting your intentions, as here case the Deed relating to the property was a significant contributing factor in the decision to uphold the Will of the late Mrs Wilcox.

If you would like to obtain advice or guidance regarding the preparation of a Will or Declaration of Trust relating to your property, please contact our Private Client team on wills@franklins-sols.co.uk or call Northampton: 01604 828282 / Milton Keynes: 01908 660966.