Putting A Codicil in Place: Discover the Simple Solution to Changing Your Will in Barbados
Considering updates to your Will in Barbados? Discover how a codicil could be the solution you need. Learn more about this efficient tool for modifying your Will in our latest blog post.
Protecting Your Intellectual Property: Estate Planning Tips for Copyright Owners in Barbados
Safeguarding your intellectual property is crucial for creators. Learn how estate planning can help you protect and pass on your copyrights in Barbados, ensuring your legacy is preserved. Read more here.
Residuary Estate Explained: How It Works and Why It's Important in Estate Planning
In this article, we will consider the importance of a residuary estate, how a residuary estate works, determining your beneficiaries under your residuary estate, and some key legal considerations when including it in your estate plan.
Deeds of Gift in Barbados: Everything You Need To Know
In this article, we will delve into the significance of Deeds of Gift in Barbados where we will explore the following key aspects: What is a Deed of Gift; The Process of Putting a Deed of Gift in place; The Legal Implications; Advantages and Disadvantages of a Deed of Gift; A comparison between a deed of Gift and a Last Will & Testament and; the Key terms associated with deeds of gift.
Critical Legal Considerations When Selecting A Life Insurance Beneficiary
An important decision for many people with a life insurance policy is the nomination of a beneficiary. This article looks at the critical legal consequences this can have on their Estate.
Ultimate Guide to Buying Property in Barbados: Step-by-Step Process
If you’re considering buying a property in Barbados, this comprehensive guide will provide you with valuable insights and considerations to navigate the process successfully.
What To Know About Taxes Before Selling Your Property In Barbados
In this article, we will take a look at these three government charges that are required to be paid on completion of the sale of real estate in Barbados and how they are calculated.
Joint Tenancy vs Tenancy-in-Common: What’s The Difference?
In this article, we will discuss the two types of co-ownership that exists and some of the important legal factors to consider when owning property concurrently.
What Paperwork Do I Need To Sell My Property in Barbados?
An important component of transferring property is having all the relevant documentation is in place which will be necessary for completing the sale. In this article, we will consider some of the important documents you should begin to gather when preparing to sell your property in Barbados. By putting these documents in place, this will give you a head start when proceeding with your real estate transaction.
Checklist for Executors and Administrators: Your Step-by-Step Guide
After your loved one has passed away, you will want to begin the process of putting provisions in place to manage his or her estate. To do so, a representative of the estate, either the Executor or Administrator will be required to step forward to carry out the necessary tasks to settle the deceased’s estate. The Executor or Administrator of the estate will be charged with securing the assets of the deceased, paying all outstanding debts, distributing the estate and maintaining proper accounts on behalf of the estate.
If you are an Executor or Administrator of an estate, this checklist can help you to understand the duties involved when the time comes to act on behalf of the estate.
Dealing With The Affairs of a Loved One Who Has Died Without A Will
In this article, we will look closely at how an estate is settled in the event that your loved one dies without leaving a Will, also known as dying 'intestate'.
In order to manage the estate of a deceased person who has died intestate, you will be required to obtain a Court Order by applying for what is known as a grant of Letters of Administration.
How To Settle Your Loved One’s Estate: The Probate Process Explained
Settling your loved one’s estate involves a detailed step-by-step legal process. Where the deceased has left a Will, probate proceedings will be need to be started in order to settle any debts and to formally authorize the distribution of the assets of the deceased. In this article, we will go through the step-by-step process involved in settling your loved one’s estate where he or she has left a Last Will & Testament.
Does Your Estate Plan Need to Be Updated? Reasons To Review Your Estate Plan Right Now
Estate planning should not be seen as a ‘set it and forget it’ process and it should be remembered that as time goes by, the circumstances of your life may evolve overtime.
This therefore means that as long as you have estate planning documents in place, you may need to revisit them when significant events occur in your life, or in cases where you have simply changed your mind about who should inherit your property or who should be in charge of managing your estate.
Navigating Estate Planning for Blended Families:
A blended family or step family may then be formed when two people with a child or children from previous relationships come to together as a couple or remarry and create a new family unit together.
Because of the dynamics of the blended family, it becomes crucial for spouses to plan their estate in a way that ensure their wishes are honoured and that as best as possible, they keep their family out of any potential conflicts.
In this article, we share some key considerations that blended families can take into account when planning their future and the future of their loved ones.
How To Incorporate Charitable Giving Into Your Estate Plan
Charitable planning involves putting measures in place so that you can provide a gift for a charitable purpose as part of your estate plan. This involves giving clear instructions on how your property is to be distributed upon your death when it comes to supporting a cause or charity that is important to you.
One of the most effective ways to ensure that your assets are passed on to a charity or for a charitable purpose, whether it be all of your assets or part of your assets, is through documentation in your Will.
In this article, we share how you can incorporate charitable giving into your estate plan.
How an Estate Is Settled If There Is No Will: Intestate Succession in Barbados
A person who dies without leaving a Last Will and Testament is known as having died ‘intestate’. In Barbados, the deceased person’s estate would pass under the intestate succession rules outlined under the Barbados Succession Act, which provides for who would benefit under the estate and how the estate would be distributed accordingly. In this blog post, we share how an estate would be divided when a person dies without leaving a Will.
Selecting The Right Guardian for Your Minor Children
As a parent, your child’s future is something that will be of major significance to you. It's important to put legal planning in place for your minor children so that they can be cared for if you are not around. This can be done by appointing guardians to step in if something ever happens to you. In this article, we share some best practices to consider when appointing guardians.
Selecting the Right Executor for Your Last Will & Testament: Best Practices to Consider
Before you proceed with the process of getting your Will created, it’s important not to skip one important step in the will planning process. That is, to have careful consideration about who will be the Executor or Executors under your Will.
In this blog post, we share some best practices when selecting an Executor.
Wondering about what to expect at your Estate Planning Meeting? Here's a look into our process here at Law Office of Lyngeolle Morris
In this blog post, we share some insight into how we work with our clients. We value the time we have together because we know how important it is for you to put the necessary planning in place to protect your loved ones and leave behind a legacy you are truly proud of. Below, we share our step-by-step process from our initial engagement right up to the stage when you sign your documents and even after your documents have been finalised.
Will Planning: The Benefits of Having a Will and How to Get the Process Started
By legally documenting your wishes, you can provide your loved ones and trusted advisors with the clarity they need to properly organize and appropriate your assets. Putting a will in place can bring with it, a number of useful benefits. In this blog post, we will discuss how to get the will planning process started and some of the advantages of having your wishes documented in a will.