The documentary made by Kate Garraway titled “Finding Derek” aired recently and brought to light why having Lasting Powers of Attorney in place is crucial to protect yourself should an unexpected crisis occur. Justine Clowes, Partner and Head of Private Client Group, highlights the benefits of making a Lasting Power of Attorney and how this… Read more »
Earlier in the year, we discussed the Trust Registration Service (TRS) and the additional regulations that came into force on 6th October 2020 as a result of the Fifth Money Laundering Directive (5MLD). Recently, HMRC has announced that a deadline extension for the TRS will be implemented. It will be a requirement to register all… Read more »
In the months leading up to the Budget, several rumours were circulating about the changes that would be made this year. Chancellor Rishi Sunak announced that inheritance tax and capital gains tax would remain the same, but what does this mean essentially and how does it impact making lifetime gifts and the value of your… Read more »
Putting property in a Trust is a great way to safeguard the property and avoid a lengthy and costly probate process on death. For the trustees who hold the property, it is important to consider any potential risk factors, your obligations and the health and wellbeing of the beneficiary residing in the property. There is… Read more »
Currently, there is no requirement for people to make a Will under English law. And, in fact, a study carried out by ‘Remember a Charity’ in 2019 found that 68% of UK adults do not have a Will. If you’re one of these people, and you’re now contemplating writing a Will yourself — proceed with… Read more »
The HMRC have recently announced that people required to file self-assessment tax returns will not receive a penalty if submitted late, provided that the tax return is filed online by the 28th February 2021. The deadline extension follows the realisation that many people required more time and were struggling to complete their tax returns by… Read more »
Trusts can affect individuals and families in a number of ways, often occurring where there are second marriages, for tax planning or for the protection of vulnerable beneficiaries. The role of Trustee and the position of Trusts can be daunting with various duties and regulations applying and new rules being implemented. What is the Trust… Read more »
Caroline Flack, TV presenter, very sadly took her own life in February 2020. Newspapers estimated that her estate was worth around £2 million but, after debts, the value was £827,000. Caroline had passed away unexpectedly without a Will having been made and therefore, by law, her estate is to be administered in accordance with the… Read more »
Traditionally, the New Year brings an opportunity for people to make new resolutions to live better and be more proactive. These may involve participating in “dry January” and “veganuary”. People may also decide to quit smoking, lose weight, join a gym or simply de-clutter the house. But what about promising to make or update your… Read more »
If you are dealing with the affairs of someone who has died, you may find that, as an executor, you need to apply for a Grant of Probate. A Grant of Probate is a Court Order which confirms the appointment of the executors named in the Will, and enables them to deal with the estate administration. This… Read more »
