We worked hard all of our lives, and accumulated a house-full of possessions solicitors call chattels. Some one has the task of disposing of our chattels amicably after we pass away. This is not a pleasant duty, but it is something that must be done. The law will … [Read more...]
Capital Gains Tax and Chattels Refresher
Chattels were once a term the landed gentry may have used to refer to the private property of the peasantry. These possessions were restricted to highly mobile items like livestock, as the latter weren’t allowed to own their land, or houses in dark mediaeval days, These … [Read more...]
Chattels Wills and Letters of Intention
A will is a legal document in which you confirm what you want to happen with your money, property, chattels, and any other possessions. There is no substitute for a legal will, unless you want your closest relative(s) to claim the lot. So why are we writing about … [Read more...]
Tracking Down a Deceased Person’s Chattels
We start thinking more often about what will happen to our possessions as we age. Perhaps we should do so after we start raising children, because there’s no knowing when our time will come. Tracking down a deceased person’s chattels can be a painful experience for … [Read more...]
How Chattels and Gains Tax Work
A chattel is a tangible asset that you own, that you can physically touch and move around. This means it forms part of your estate, and is potentially liable for inheritance tax when you die. But some chattels are exempt, which is why it is essential to understand how … [Read more...]
Chattels and Capital Gains Tax – The Low Down
This brief introduction to chattels and capital gains tax is just that. You’ll find a more complete guide to capital gains tax implications by following the link. If you intend acting on what follows, you should speak to your tax adviser first, before reaching any … [Read more...]
Can a Fixture Become a Chattel?
A chattel is a portable possession, as every schoolkid should know. However, it becomes a fixture if an owner permanently attaches it to a house on a property they own. Naturally, there are exceptions for lawyers to thrive over. Today we consider the reverse … [Read more...]
The Store of Wealth in Your Chattels
An unusual mortgage could help you access the store of wealth in your chattels, if you don’t want to sell them right now. This is a particular form of security interest over tangible moveable property, and it works similarly to a property mortgage. Legal title to … [Read more...]
Separating Out the Chattels and Fixtures
One might have thought the distinction between chattels and fixtures was obvious at first sight. After all, Oxford Learner’s Dictionary defines chattels as ‘personal possessions that are not land and buildings’. While elsewhere it says fixtures are ‘fixed to a house … … [Read more...]
Sharing Family Chattels Under Probate
Sharing family chattels under probate can be a traumatic business, given the stresses of the moment that can cause rifts. We have had similar experiences when separating couples ask us to value joint possessions. Our discreet support includes converting them to cash, … [Read more...]