Tag: Wills

The short answer is yes, everyone who has assets needs a Will to ensure your wishes are carried out.  If you are married or in a civil partnership and have joint assets with your spouse/civil partner, these assets will automatically pass to them by survivorship. Assets in your sole name or held as tenants in […]

Spring brings new life and (hopefully) better weather which in turn imparts energy to declutter and reorganise our lives. Psychologically this boosts mood, reduces stress and affords us more time to accomplish activities from which we derive pleasure. Blowing the dust off our personal affairs, checking all is in working order and that we have […]

To read part 1 of this article, press here   For some farming families, the mantra of passing down assets well before death has been something that they have practised for years. That continues to be attractive – if one is faced with paying an Inheritance Tax bill of say £200,000 on the second million […]

The thunderbolt changes to Inheritance Tax for farmers announced in the Budget go live at the end of March 2026, if of course one takes the view that the government will not choose to backtrack in light of the reaction from farmers.  But the very fact that the current system is in place until then […]

In part 1, we discussed what Equity Release is and how it can be teamed with Inheritance Tax planning to reduce the Inheritance Tax payable upon death. Click here to read part 1.   Equity Release and Gifting Equity Release coupled with gifting can effectively decrease the amount of Inheritance Tax payable by beneficiaries. That […]

One thing we are asked about frequently, and one of the most complicated aspects of Wills, is trusts and how they work, how they can be utilised in your Will, and the relevant tax consequences. Trusts are frequently misunderstood by clients as they can be difficult to explain without over complicating matters causing clients to […]

The implications of the budget will continue to be felt many months if not years into the future. The changes, as far as money purchase pensions, with value in them at the date of the pensioner’s death counting towards that individual’s Inheritance Tax estate, only comes in as of April 2027. For those who die […]

It is important to note that the changes which are discussed hereafter are ONLY applicable for those with certain types of Wills and certain types of assets, and that it is only relevant for those with such Wills and assets who die AFTER 6th April 2026.  Before that time, the existing rules apply (which are not […]

There are an estimated 982,000 people living with dementia in the UK, with this number anticipated to increase to over 1.4 million by 2040. One in two of us will be affected by dementia in our lifetime, either by caring for someone living with the condition, developing it ourselves, or both. Being in receipt of […]