Couples choosing to cohabit should consider documenting their intentions in relation to their property and finances so both parties know from the start what their respective entitlement and rights are. As social and legal attitudes change towards marriage, whatever the rights or wrongs involved are, the implications around control of assets must be understood. With …
When most people are asked if they know what probate is – the normal response is a shrug of the shoulders or the thinking that it is only something that needs to be done if you die without a Will. Unless you have first-hand knowledge/experience or you work in the industry, very few people will …
Society may have moved forward with relationships, but tax law has not. Millions of couples who have chosen to avoid tying the knot are now at risk of falling into complex legal battles to get a share of a home they’ve lived in all their lives or the wealth they’ve helped build. The numbers of …
Executors are individuals or professionals chosen to administer the Estate of someone who has passed away, where that person has made a Will. The person who makes the Will (‘the Testator’) can choose as many people as they wish to act in the role of Executor, in the first instance or by substitute, but only …
Prior to October 2007, many people who made powers of attorney would have made Enduring Powers of Attorney (EPAs). From October 2007 EPAs were replaced by Lasting Powers of Attorney so it is no longer possible to make a new EPA. However, many existing EPAs will still be valid and may still be used by …
As part of the UK government’s implementation of the 5th EU Money Laundering Directive, almost all Trusts are now required to be registered with HMRC. Trust registration is nothing new. The Trust Registration Service (TRS) has been in operation since being introduced by the Fourth Money Laundering Directive (MLD4) in 2017, and before then certain …
Love is not in the heir – Online dating behind surge in over-65s remarrying The number of ‘silver splitters’ tying the knot after getting divorced early in life is at its highest in a decade, with dating sites and dating apps said to play a major part. Marriages among the over-65s have risen by the …
Estate planning for the next generation: Blended families and second marriages Modern families are changing beyond the traditional structure, with needs becoming ever more complex as structures change and families grow. One example of this is when people remarry, sometimes becoming what is known as a “blended family”. These issues can add complexity to estate …
Question: Can I get Inheritance Tax Relief? Answer: Yes – Education & Planning is the answer HM Revenue & Customs (HMRC) recently revealed that they had collected £5.5bn in Inheritance Tax (IHT) between April 2021 and February 2022. This shows that IHT has continued to “prove its worth to HMRC”, as quoted by Andrew Tully, …
Making a Will is a vital part of any estate planning exercise. Sharing wealth with family and other loved ones in the most tax-efficient way possible is a priority for most people. Their aim is to provide for partners and ensure that children are supported financially to achieve their goals, whether those include buying a …
