The new Inheritance Tax rules – It’s Time to Review your Will

What you need to know From April this year some homeowners will be entitle to an additional £100,000 free of Inheritance Tax. As the allowance is transferable between spouses and Civil Partners, this can effectively mean that couples have an allowance £200,000. When added to existing allowances they could leave assets worth up to £850,000…

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If your child gets divorced will they lose their inheritance?

Recent research by Investec Investment & Wealth suggests that 30% of adults are unwilling to pass their money on to their children in case they get divorced and the money leaves the family. We have heard people telling us this for many years. With the divorce rate in England at around 42%, it might be…

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Lasting Powers of Attorney – a warning about Inheritance Tax planning

In a judgement on 30th October 2014, the Court of Protection has ruled that a Lasting Power of Attorney cannot be used to organise a Donor’s affairs to mitigate inheritance tax without first applying for a court order (the Donor is the person who created the Lasting Power of Attorney). The judgement was made in…

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How to protect your estate from greedy family members

The blog below was originally written by Patti S. Smith, Attorney for Spencer Law Firm in Lancaster, PA in the USA. What really struck me is how many similarities there are with our legal sysytems and that all of the solutions apply to clients in England and Wales. With many thanks to Patti, I hope…

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How Estate Planning Can Change Lives

A study by the Institute of Fiscal Studies has reminded me why I think estate planning is so important. The study found that people who were born in the 60s and 70s will be poorer than their parents – unless they inherit from them. I often discuss with my clients the massive difference that their…

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