When contesting a Will goes horribly wrong
Do you think an adult beneficiary should ever challenge a parent’s Will? This subject often gets people hot under the collar. Father v. Daughter In a recently heard case, Sonya Young, from Glamorgan in Wales, did just that. Her father, Brian Cole, had changed his Will 25 days before he took his own life in…
Might siblings be treated like spouses for Inheritance Tax purposes?
Changes are afoot Potential changes currently before Parliament may spell good news for siblings and half-siblings who live together. The first reading of a Bill took place on 14th January 2020. It proposes that some transfers of wealth between siblings could be treated as though they were between spouses or Civil Partners. Where this becomes…
The Rules of Intestacy are Changing
The Lord Chancellor has announced a change to what we sometime call the Rules of Intestacy. Dying intestate means that you have died without a Will. Currently, if you die without a Will, and you have children, under the Rules of Intestacy your spouse or Civil Partner gets the following: All your personal belongings…
What happens at one of our consultations?
People often ask this question as they worry about what they might be committing to. Whether the meeting is held remotely or in person we tend to follow the same process. Firstly, you should allow 2 hours for the meeting. Our experienced estate planner will start by getting to know you, and looking at the…
New Death Tax doesn’t need approval of MPs
A new tax? The substantial increase in probate fees announced yesterday is unusual in that it didn’t need Parliament to vote on it. Instead, The Fourteenth Delegated Legislation Committee voted on the new proposals surely you’ve heard of them). The new rules squeaked in with the vote being 9 to 8 in favour. So can…
Somebody really Important died yesterday
Over 1500 people died on Saturday in England, including a fan at the Leicester football match. If you lost somebody yesterday, there probably won’t be thousands of bunches of flowers laid outside your house. No headlines on TV. People who didn’t know your loved one won’t be crying in the street. But the person that…
Universal Wealth Management
Universal Wealth Management / Universal Asset Protection News: The above Ipswich based company, which you may know by any of these names but more commonly Universal Wealth Management, is currently in liquidation. The BBC has reported that the company is being investigated by the Police. There are worries that many people have set up trusts with…
Let’s not start Civil Partnering just yet
This week a The Supreme Court ruled in favour of Rebecca Steinfeld, 37, and Charles Keidan, 41, from London. The couple were bidding for the right to become Civil Partners instead of having to get married. Currently, the Civil Partnership Act 2004 only applies to same-sex couples who are not closely related. So will the…
What happens at a Will review?
We suggest that most people should review their Wills at least every 5 years. If there has been a change in your financial or family circumstances we recommend that you review your Will immediately. You may have received a call from us asking if you would like a review meeting and perhaps you are wondering what…
Why Executors may be in for a nasty shock
What are the dangers of acting as an Executor? Most people are not aware that acting as an Executor of a Will carries with it many personal liabilities. For example, if you’ve distributed all the money and then a creditor or long lost relative comes forward, you can be personally liable to pay the debts.…