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 …
Is your house locked up in a trust you are not in control of? Urgent information you need to know! For the last few weeks there has been a lot of publicity in newspapers & on TV around people who have placed their properties into trust with companies that have now gone into administration or …
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 …
Most people understand the benefits of a lasting power of attorney (LPA), which allows an individual to nominate someone to make decisions on their behalf, if they become incapacitated in some way. Less well known is the ability to put an LPA in place for a business, seems a sensible idea when the sudden illness …
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 …
It’s never easy, going through a divorce process can be extremely stressful for everyone. There are lots of areas to think about and one of these is likely to be what you should do to protect your hard-earned money. It is vital to have a suitably drafted up to date Will in place to ensure …
Usually, there can be up to £10,000 to £15,000 in the bank before Probate is needed but this isn’t always the case. All banks and building societies have different thresholds for releasing funds without a Grant of Probate. Depending on the size of the estate, banks will ask for a Grant of Probate before closing …
Traditionally the emphatic answer to this question was NO. But in recent years we have seen the increase in the number of long-term relationships where there is no marriage or civil partnership, coupled with an increasing number of divorces and second relationships all backed up by changes in the law that give increasing equality to …
While many people make arrangements for what should happen to their property and finances after they die, fewer people make arrangements for someone else to manage their finances for them during their lifetime, e.g. in the event that they lose mental capacity. According to the Office of the Public Guardian (OPG), although an estimated 40% …
