Why doing nothing about Inheritance Tax could cost your family everything Let’s talk about Britain’s most resented tax — the one that hits after you’ve passed on, but somehow still manages to cause arguments among the living. This year alone, HMRC is set to collect over £8 billion in Inheritance Tax (IHT). Yes, billion — …
Many people believe that if they put a will in place, that it will determine what happens to their estate after their death. Although this is the starting point, ultimately a person’s will can be changed after their death. Who can change a will? Beneficiaries and executors can make changes to a will after the …
Regardless of your age, it is crucial to have an up-to-date and professionally prepared Will and Estate Plan. This document ensures that your estate and assets are distributed according to your wishes after your passing. Furthermore, an updated Will and Estate Plan can help prevent disputes among family members and provide peace of mind for …
Ensuring the future security of our loved ones ranks high on the priority list for many individuals. While we cannot foresee what lies ahead, we can be realistic of what modern living involves and place proactive measures in place to guarantee the protection of our assets and the provision for our families in the unfortunate …
The Potential Consequences of Generosity We are often approached by clients who have received advice that they should consider gifting their house to their children as a means of avoiding this being sold to meet ongoing care costs in the future, or to minimise their Inheritance Tax liability on their death. However, the reality of …
Inheritance Tax (“IHT”) has been a devise subject for a long time. Now interest rate chaos has added to the burden many face when trying to settle IHT on a deceased’s estate. A combination of previous house price increases, soaring inflation and tax-free threshold of £325,000 which has been frozen since 2009 has resulted in …
If you are not sure what to do with inheritance, we have outlined some options available to you in this article. There are two potential situations. The first is you think that when your Mum, Dad or other relative dies, you will inherit. The second situation is that your Mum Dad or Auntie has died, …
We all like a bargain, don’t we? It is quite common to see Wills being advertised “on the cheap”, at the price of an average meal down the pub. However, Will writing companies have spent money to advertise at the top of internet platforms like Google in order to sell you a Will on the …
Sideways disinheriting is extremely common and can be very upsetting in the aftermath of a loved one passing. It has been highlighted by the case of Scarle vs Scarle when stepsisters battled in court to inherit their respective parents’ estate. Unfortunately, despite both losing a parent, only one stepsister would win the case, and in …
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 …
