E

Early repayment charges

These are charges that you may have to pay if you break off a mortgage deal – by paying it back early and/or moving it to another lender.

Education law

This is the law that governs the manner in which education is provided and educational facilities operate.

Employment law

This is the area of law that governs the relationships between employers and employees. It includes things like harassment and unfair dismissal.

Employment law solicitors

An employment law solicitor can give an opinion on an employee’s position, prepare an application for an employment tribunal and represent the employee in the tribunal. Companies may also use employment law solicitors to advise them on employment and staff issues and to represent the employer side in tribunals.

Entertainment law

This area of law governs film, TV, music, theatre and other entertainment sectors, including intellectual property law, copyright and trademarks.

Environmental law

This area of law governs and promotes sustainable development and environmental protection.

Equity

This is a term that’s used to describe a company’s issued stocks and shares. If you own shares in a company you own some of the company's equity. It can also be used to describe the amount, or value, of your home that you own. If you ‘have equity’ in a property, it means that you own a portion of it above the value of any debts secured on that property, such as a mortgage.

Equity release

Equity release is the process of using the value of your home to raise cash – releasing the equity. There are two main types of equity release scheme available: lifetime mortgage (sometimes known as equity release mortgages) and home reversion schemes. When the property is sold, the plan provider reclaims their loan and any interest due with the remainder going towards the plan owner or to their estate.

Estate Planning

For inheritance tax (IHT) purposes, an individual's estate is calculated as being his or her total assets less any liabilities at the time of their death. Proper estate planning could save your family hundreds of thousands of pounds, because IHT (sometimes called ‘death duty’) will be charged on what you leave behind, over the IHT threshold at time of death. Currently, IHT is due at 40% of the value of all the assets you leave behind on death above the IHT threshold.

Ethical investment

Ethical investments are opportunities offered by businesses or funds that aim to avoid companies involved in some kinds of activities, but instead favour those involved in other activities. For example, companies trading in armaments, cigarettes, animal research or alcohol are unlikely to be considered ‘ethical’ – but a company that is highly committed to recycling or human rights issues, may be considered to have an ethical bias. Ethical investments can also be known as ‘green investments’ or ‘socially responsible investments’.

European Union law

This is the body of law that’s enacted by the European Union.

Executor

An executor is a person, named in a will, who is charged with administering the deceased person’s estate and distributing the assets to beneficiaries.

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