New data published by the Office of the Public Guardian in recent days reveals that the number of people submitting Lasting Power of Attorney (LPA) applications rose by two per cent year-on-year between April and June 2018.
A Freedom of Information (FoI) Act request has revealed that many UK families are not taking advantage of a recently-introduced Inheritance Tax (IHT) break which could otherwise save them thousands of pounds.
Having a valid Will in place is essential for anyone who wants their estate to be passed on in line with their wishes. If a person dies without a Will in England and Wales, their estate passes on in accordance with the intestacy rules – which could have unwanted or unfavourable consequences for the wider… Read more
UK families are being urged to consider the benefits of setting up a deed of variation (DOV), which may be able to help families to resolve difficult Inheritance Tax (IHT) issues after the death of a loved one.
A new study has revealed that almost a third (30 per cent) of UK adults do not fully understand key Inheritance Tax (IHT) terminology, while a similar number are unaware of the rate at which IHT is charged.
A number of voluntary sector groups are calling on the Government to tread carefully in its efforts to simplify Inheritance Tax (IHT), amid concerns that any drastic changes could have “potential negative consequences” for legacy giving.