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BUDGET 2024 The Changes To Inheritance tax

The budget 2024, our new Government has decided in it's first budget to raise further income for the Treasury by increasing Inheritance Tax. Whilst the rates have not increased the existing allowances (ie nil rate bands), have been extended for a further fixed period...

A Right of Residence

A Right of Residence is something you can include in your Will If you own a house and want to make sure that someone can continue living there after your death one of your options is to create a Right of Residence for them. This will make sure that the person keeps...

It pays to be civil

Mixed sex couples can enter a Civil Partnership and enjoy most of the Tax benefits of being married. This is a legal relationship which provides some real financial benefit to those who wish to live together without getting married. The set up costs are nominal...

Cap on Care only to benefit 1 in 8

Ministers have now admitted the proposed new legislation to be introduced by 2017 will only help 12% of older people. Those who have to go into care will still be liable for the whole of their care costs if their assets,including their home, exceed £118000. Below this...

Difficult Executors-Personally liable

A recent case where Executors of a Will are failing to claim the proceeds of an insurance policy indicates the personal liability attaching to their duties. The proper administration of a Will , which is called Probate, is the responsibility of the named Executors. In...

Divorced,Single Parent,Unmarried Couple? You need a Will

Modern day living governed by out of date legislation can often mean your assets finishing up in the wrong hands after death. If you have recently divorced a new Will is essential for both parties especially where existing Wills bequeathed everything to each spouse...

Business Owner Dies

The death of a Business Owner should not necessarily be the death of the Business. A properly drawn Will containing a Business Trust can clearly define how the Business continues and who will own/operate it. A family should not lose this very valuable asset because of...

Deathbed Wills.

An interesting case is being pursued through the Courts at present. The daughter of a man who died of throat cancer is contesting a Will that was signed on his deathbed. The Will divided his estate between his sisters, a brother and two children of another sister. It...