Unclaimed UK Estates May Total Billions

15th August 2018

According to the latest figures from the UK Government, there are currently 9,254 unclaimed estates in the UK. With the average value of an estate worth around £150,000, the total amount of this unclaimed inheritance could total billions. Sadly this situation means that property, money, personal belongings and other... read more

Posted in: Estate Planning

Inheritance Tax Revenue Breaks £5 Billion

13th August 2018

UK Inheritance Tax (IHT) revenues have broken the £5 billion mark, totaling a hefty £5.2 billion this year, up from a £4.7 billion last year. With an ageing population, increasing property values and fairly static allowances IHT revenues look set to grow and grow. Within the latest government report,... read more

Posted in: Estate Planning, Inheritance Tax

The Importance of Later Life Planning

8th August 2018

Whilst Lasting Powers of Attorney (LPA) are rising in popularity, latest figures show that fewer than 1 in 10 adults have drawn up one of these important documents. An LPA is one of the best ways to protect yourself and your wishes, should you become unable to make financial... read more

Posted in: Estate Planning

Understanding the role of a personal representative

27th June 2018

As you may be aware, the importance of appointing the right personal representatives of an estate reign high in order for wishes contained in the deceased’s Will to be fulfilled as smoothly as possible. However, merely granting someone as your personal representative should not be a tick-box exercise, but... read more

Posted in: Estate Planning, News

Tax Break Removed from Termination Payments

19th June 2018

Leaving any role can be difficult but on some occasions a termination payment – paid in the event of dismissal, redundancy or retirement – can help ease the financial impact of a change in circumstances. Until this year if you had worked overseas for a set amount of time... read more

Posted in: News

Deferring a State Pension

18th June 2018

Until recently it was possible to defer a State Pension in favour of a lump sum. However from 6 April 2016 this option is no longer possible, although the pension can be deferred in exchange of an increased regular State Pension at a later date. If you chose to... read more

Posted in: News, Pensions

New Tax Allowance for Those Letting Property

31st May 2018

A new £1,000 allowance for property and trading income came into effect during 2017/18. The allowances are of most benefit to micro-entrepreneurs, such as those with secondary incomes who, for example, let property through sites such as Airbnb and trading via e-marketplaces. The allowance can be claimed against property/trading... read more

Posted in: News

Do I need more than one Will?

23rd May 2018

It would seem that the nature of Will writing does not necessarily accommodate for a globally mobile lifestyle, a lifestyle which is becoming increasingly common and one we help clients to financially negotiate every day. If you own assets in more than one jurisdiction, it can be difficult to... read more

Posted in: Estate Planning

The pitfalls of DIY Wills

9th May 2018

Latest figures reveal only 59% of the UK have written a Will. Of those people, 6% have chosen to write a DIY Will. While there are some advantages to ‘create-your-own’ Wills, there are even more pitfalls. Here, we explore some of the reasons why DIY Wills may not be... read more

Posted in: Estate Planning

The effect of marriage and divorce on your Will

23rd April 2018

According to latest data from the Office of National Statistics, there were 245,513 marriages and 107,071 divorces in England and Wales in 2017. Given these figures it is useful to consider what happens for the couples who already have Wills in place when their circumstances change. We take a... read more

Posted in: Estate Planning