Tag: Private Client

Once upon a time, only the very wealthy had ‘trusts’ and the drafting work was carried out exclusively by solicitors. Times have changed, and often things like ‘discounted gift trusts’ or ‘gift and loan trusts’ and ‘investment bonds’ are sold, and often come with a free at point of use trust documentation from the product […]

Planning for the future often involves finding ways to minimise the Inheritance Tax (IHT) burden and preserve the assets you’ve worked hard for. For most individuals, their home will be their biggest asset. To avoid paying IHT or selling the property to fund care, many look at placing their home in a trust, believing this […]

It may seem perhaps counter-intuitive to be writing an article about the Residential Nil Rate Band Allowance when there is a possibility that the new Labour Government may shortly schedule it’s demise; but until that point in time is reached and that repealing measure is on the statute books, then we have the Residential Nil […]

The assumption is often made that if someone has a Lasting Power of Attorney (LPA) in place, that the appointed trustees will have the authority to deal with matters in the event of mental incapacity of a trustee. This is not true and can cause problems. In the case of an appointed trustee loosing physical […]

Domicile is a misunderstood concept largely because by its very nature it is subjective and therefore ambiguous. However, it is essential to establish a deceased’s domicile, as this affects the taxation of their estate.  Broadly speaking domicile is a person’s permanent, principal home and usually where they have lived physically at some time, albeit they may […]