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 worrying new study published earlier this week has revealed that the vast majority of Britons are leaving important health and welfare decisions ‘entirely to chance’ by failing to seek specialist legal advice.
People who are thinking of setting up a Lasting Power of Attorney (LPA) are being urged to tread carefully, after a Freedom of Information request revealed that an increasing number of Britons are appointing attorneys who are inexperienced or ill-equipped for the job.
Retirees who invest their pensions in income drawdown schemes are being urged to consider the importance of setting up a Lasting Power of Attorney (LPA) after it emerged that thousands of Britons who have not done so are exposing their loved ones to ‘costly ordeals’ if they fall ill.
With reports of the royal wedding dominating headlines this week, there is a strong focus on marriage across the press and the media. But experts are reminding Britons that while most people marry for love, tying the knot also enables couples to enjoy a number of significant tax advantages.
In recent days, prominent think tank Resolution has called for a radical new system to replace the UK’s existing Inheritance Tax (IHT) regime, amid concerns that more needs to be done to tackle intergenerational inequality.
A new study carried out by equity release company Age Partnership suggests that more than half (57 per cent) of retired Britons are worried about the rising costs of elderly care and the fact that only limited funding is available to them.