Changes to Private Client Law in 2023
There have been a number of changes in private client law this year that might affect you if you have legal plans in place for the future or if you’re currently administering an estate.
Trusts and Tax
Trusts and Tax articles
What Do You Need to Know About Inheritance Tax Interest?
Most people are aware of inheritance tax and the added complications it can bring to the process of administering an estate. This type of tax does not need to be paid on all estates, just those that are worth over a certain threshold.
How to Administer an Estate where the Will Involves Trusts
Trusts can make the already-complex task of administering an estate even more complicated. If you’ve been named as an executor in a Will that includes trusts, you might find our guide on how to approach this helpful.
Huge Number of Trusts Yet to Be Registered With HMRC
In the past few years, the rules on when a trust needs to be registered with HMRC have changed. In the past, it was mainly only trusts that were liable for tax that needed to be registered. Now, almost all express trusts need to be registered, regardless of whether or not any tax is due.
Avoiding Fraudulent Professional Trustees: Universal Wealth Preservation
It’s not always easy to know where to turn for advice when making plans for your financial future. Though it’s not a common occurrence, we have unfortunately worked with a number of clients who’ve been caught out in the past by fraudulent professional trustees.
A Brief Guide to Inheritance Tax
There are a lot of things to think about in the aftermath of a bereavement. Some are emotional, some are practical and some are legal obligations.
Inheritance tax falls into the third category. Though it’s unlikely…
What are the Most Common Reasons to Dispute a Will or Trust?
Losing a loved one is undoubtedly a very stressful experience. In some cases, this stress can unfortunately be magnified as a result of disagreements between family members. In these situations, it can be very difficult to…
Do Your Inheritance Tax Plans Consider Lifetime Transfers?
Discover how gifts and transfers you make in life can affect the inheritance tax your estate pays when you are gone.
What is the Statutory Legacy Increase and What Could it Mean for Me?
With the government’s recent increase of the Statutory Legacy, we examine the Statutory legacy and how it could affect passing your property on after death.
Myth-busters #4 – Having a Will means you won’t need Probate or pay Inheritance Tax
This is another common misconception we hear from clients. They have made a Will, or a specific type of Will, in the belief that it will prevent their loved ones needing to obtain Probate or pay any tax on their death. Unfortunately, this is not true. Just because you have a valid Will in place, …
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