Article Category: Trusts – Insight & Opinion

Why a Commercial Lasting Power of Attorney is Important for Your Business

Running a business involves planning for the future and setting goals. Unfortunately, illness or incapacity is not something we can predict. A Commercial Lasting Power of Attorney (LPA) can help to ensure your business continues to run smoothly should you lose capacity or be unable to run your business due to ill health. What is… Read more »

The Future of Entrepreneurs’ Relief

What is Entrepreneurs’ Relief? Entrepreneurs’ Relief (ER) reduces the rate that Capital Gains Tax (CGT) is paid, from 20% to 10%, when some or all of a business is sold. It is available to most individuals, qualifying beneficiaries and some trustees of settlements. However, this is subject to certain conditions including a lifetime limit of claims… Read more »

MPs Propose Overhaul on Inheritance Tax

A group of MPs have called on the government to re-think Inheritance Tax (IHT) by removing almost all reliefs available, including the residence nil rate band (RNRB) which was introduced in April 2017. On 28th January 2020, the All Party Parliamentary Group (APPG) on Inheritance Tax and Intergenerational Fairness urged the government to consider an… Read more »

Ageing Well Without Children: How can a Professional Attorney Help?

A new organisation AWWOC (Ageing Well Without Children) has been launched to provide advice and guidance to those who are concerned about growing older without children. Their aim is to provide information and support which people can turn to for help with the tasks that become increasingly difficult as we age. Whilst having children is… Read more »

Property held in Trust: who’s responsible for the up keep

Property held in Trust is a great way to safeguard the property and avoid the lengthy and potentially 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 »

GDPR for Trustees and Executors: How have they been affected?

We’re five months on from the implementation of GDPR (General Data Protection Regulation) and many people have been asking what effect the new data protection rules have had for those acting as Executors and Trustees, and is there anything they should be doing going forward? The effects of GDPR for Trustees and Executors: As part… Read more »

Why Should I Appoint A Guardian For My Children?

Appointing a guardian in your Will enables someone you trust to take care of your children if the worst should happen to you. It also gives important rights to that person so that they can make key decisions regarding the future of your children. If both parents have parental responsibility, the guardianship will not take… Read more »

Removing A Trustee Who Has Mental Capacity Issues

Many people take on the role of trustee either professionally or as a trusted family member or a friend. The role of a trustee can go on for many years and it is not uncommon for someone to lose mental capacity and therefore need to remove a trustee who has mental capacity issues. When an individual… Read more »

Discretionary Trusts: Don’t Wait For A Family Dispute To Happen

A recent case about a family farming partnership has highlighted the need to take independent legal advice, even when a solicitor is advising the family and everyone is getting on well at the time. Without it you could be shocked by the result of future disputes, particularly when it comes to assets left in discretionary… Read more »