Queen Elizabeth II has been alive for longer than the vast majority of us, and yet it seems hard to believe that she will one day die. However, there are many plans already in place to deal with this eventuality. The responsibility for dealing with the...
The new Residence Nil Rate Band (RNRB) that came into effect on 6th April is good news for many - but not for everyone. In summary, the new tax-free allowance increases the inheritance tax (IHT) threshold of £325,000 per person by £100,000, rising to £175,000 in...
Three animal welfare charities have mounted an appeal to challenge a judge’s decision which allowed a woman’s estranged daughter to overturn her Will. They will be appealing the decision to override Melita Jackson’s Will, which explicitly disinherited her estranged daughter, Heather Ilott, and left her entire...
HMRC collected a record £4.56bn in Inheritance Tax (IHT) in 2015/16, a 21% increase in IHT payments from the previous year and an enormous 70% increase since 2010/2011. The reason for this substantial jump has been put down to the increase in the values of assets...
The number of lasting powers of attorney (LPAs) registered annually has tripled between 2010 and 2015. The increase in the number of LPAs being registered may be due to a drive to increase public awareness, and a desire of people to plan for the future. An LPA...
Mistakes made in DIY Wills are often not discovered until after that person has passed away, by which time it is too late to rectify the damage that a poorly written Will can cause. According to a YouGov survey, 96% of people who prepare their own...
The Financial Times reported recently that Government proposals unveiled earlier in March; could result in a hundredfold increase in probate fees for some families. This came to light when the Ministry of Justice (MoJ) published its plans to reduce the £1.1bn annual cost of running...
You would like to think that if a loved one lost mental capacity - the ability to make their own decisions – perhaps through an illness, accident, dementia or a stroke, that their family would naturally be able to look after their interests. The reality...
“Inheritance Tax is paid by people who distrust their heirs more than they dislike the Inland Revenue!” These words from a former Chancellor are now far from reality due to the Government’s clampdown on perceived ‘tax evasion’ in recent years, and their ongoing desire to restrict...
The act of marriage invalidates an existing Will, unless it was written in contemplation of marriage, as you have become a ‘different legal entity’. Divorce does not have the same effect of invalidating a Will. Instead, your ex-spouse will be deemed to have ‘died’ on the...