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The Cost of Residential Care

19th February 2019

The government has recently opted to leave charging thresholds for residential care as they are for the ninth consecutive year. Consequently, the lower and upper capital limits remain at £14,250 and £23,250 respectively. This means that whilst those with assets of less than £14,250 do not have to pay... read more

Posted in: Estate Planning

Drafting a Power of Attorney

5th February 2019

Giving someone the power to deal with your affairs can be a good idea, but if the document isn’t drafted carefully it can lead to expensive financial and administrative problems. A Lasting Power of Attorney (LPA) is the document which gives someone the authority to deal with your financial... read more

Posted in: Estate Planning

How to leave money to a charity

1st February 2019

Charities rely on legacies for much of their funding and many of us want to leave money to good causes that have helped us during our lifetimes. But which is the best way to leave money to your chosen charity? Many charities receive a high proportion of their income... read more

Posted in: Estate Planning

Probate Fees to Return

18th December 2018

Probate fees are set to be re-introduced in April 2019 after they were first proposed in 2017. This will see a considerable increase in probate application fees for higher-value estates. The breakdown below summarises the new charges for probate applications: Many view this introduction as a ‘back-door’ tax, which... read more

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The cost of a funeral

3rd December 2018

The Competition and Markets Authority (CMA) has recently released a report detailing the inflation in price for funeral and crematoria services – an inflation that has been labelled ‘unjustified.’ Below is a summary of the key figures the CMA have identified, along with potential factors to look out for... read more

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How to avoid a dispute over your Will

18th November 2018

As the number of disputed inheritances increase, it has never been more important to have a properly drafted Will in place. Recent reports are demonstrating that the amount of people writing an up to date Will is steadily increasing. In 2017, 39% of individuals in Great Britain had a... read more

Posted in: Estate Planning, Inheritance Tax

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 amount of this unclaimed inheritance could total billions. Sadly this situation means that property, money, personal belongings and other assets... read more

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Inheritance Tax Revenue Breaks £5 Billion

13th August 2018

UK Inheritance Tax (IHT) revenues have broken the £5 billion mark, totalling 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