Category: Wills

Inheritance Tax receipts expected to hit new record high

A new analysis carried out by the Office for Budget Responsibility (OBR) this week has estimated that Inheritance Tax (IHT) receipts are likely to soar to a new record high for the 2018/19 tax year.

The importance of keeping your Will up-to-date

Important life events such as getting married, moving house or having children are being overlooked by many British families, who are failing to keep their Wills regularly updated to reflect changes in their circumstances, it has been warned.

Chancellor urged to consider ‘simplifying’ Inheritance Tax rules ahead of Budget

Chancellor Philip Hammond is facing fresh calls to consider Inheritance Tax (IHT) reforms ahead of the Autumn Budget on Monday 29 October.

More than half of UK parents do not have a Will, study reveals

A new study suggests that more than half (56 per cent) of UK parents do not have a Will. This means that in the event of an unexpected death, their children could potentially be left without legal guardianship.

Lasting Power of Attorney applications up two per cent year-on-year

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.

National Wills Week: Three consequences of not having a will

There are several potential issues that can arise from not having a will, which can also be detrimental to loved ones; but still over 60 per cent of adults in the UK have resisted getting one. Awareness is important during National Wills Week; the impact of not having a valid will can be significant. Here…
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Parents acting as ‘Bank of Mum and Dad’ reminded not to forget about IHT

Parents who gift money to their children or grandchildren in a bid to help them get on the property ladder are being reminded to consider the complex Inheritance Tax (IHT) rules affecting gifts.

UK families urged to ‘Remember A Charity’ in their Wills

A prominent charity group is calling on UK families to leave behind charitable legacies in their Wills.

Families failing to take advantage of the RNRB

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.

Death of music legend Aretha Franklin highlights importance of having a Will

Last week, legendary singer-songwriter Aretha Franklin passed away at the age of 76, leaving behind no Will documenting what should happen to her estate.