Wills. Something that we put to the back of our minds. Something to sort out later on when you are old and grey. As it has been said, the only certainties in life are death and taxes – and a certain Mr. Trump has shown that even taxes may be optional. So, we get back
Currently, there are around 3.3 million unmarried cohabiting couples in the UK. Yet most legislation focuses mainly upon protecting married couples when it comes to estate planning, meaning that many cohabiting couples face large Inheritance Tax (IHT) charges on both first and second death. This is because unmarried couples do not benefit from spousal exemptions
Writing a Will is the only way to ensure your wishes are carried out as you intend on death. Without this your estate will be subject to the intestacy rules, meaning you have no control over its’ administration, creating heartache and uncertainty for those you have left behind. So why should you get a Will?
Inheritances can provide a real springboard for future generations. They can give much-needed capital to buy property, start businesses, or just assist in improving day to day living. However, it requires specific strategies to be in place to maximise and maintain these funds through the generations. This article looks at the way parents can ensure
Nothing tends to focus the mind like a pandemic. It puts everything in perspective, and suddenly makes you wonder whether your existing estate planning arrangements are as effective as you originally thought they were? All in all, a review is in order. So, what should you be looking out for? These are the main areas
Intergenerational wealth preservation and succession planning are always hot topics when we speak with clients. The ability to protect your estate for the benefit of your family is always a key planning priority. Estate planning ensures that no beneficiaries go without, whilst enabling protection from the external factors which impact intergenerational wealth transfer. That is
Families are now self-funding care at a record level, with £7.74 billion paid for by families in the last year alone. This was a 95% rise on the £3.97 billion self-funded in 2007, showing the massive increase in care home fees that families are having to provide for. This drastic increase has not been mirrored
The Office of Tax Simplification (OTS) has proposed a shakeup of the current gifting rules in what many are seeing as a well-disguised tax grab. Currently, you can gift as much as you like during your lifetime, only triggering a tax charge on death if you have given away more than £325,000 in the last
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