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The Office of Tax Simplification (Another Government Oxymoron!)

The Office of Tax Simplification (OTS) has published its second report on Inheritance Tax. The report comes after the Chancellor requested a review of administrative and technical aspects of the tax back in January 2018. The first report was released in November 2018 and covered the administration of Inheritance Tax. This second report now explores [...]

WHAT SHALL WE DO WITH YOUR BODY?

A corpse: who will have the right to decide after your death? The fraught difficulty of who has the right to choose how the corpse is to be disposed of; where it is to be buried and/or whether it should be cremated and then who owns the ashes only rarely becomes an issue for the [...]

Who owns your house?

Joint Tenants and Tenants in Common If two or more people own a property jointly it is important they decide whether they want to hold it as joint tenants or as tenants in common and if tenants in common, whether they want to hold it in equal or unequal shares. Joint tenants or tenants in [...]

Probate Centralisation

HM Courts and Tribunals Service centralisation includes closing probate registries. According to the Law Society Gazette, The Ministry of Justice (MoJ) has begun work on closing down regional probate registries and moving the service under one roof. The Gazette understands some staff at the 10 remaining sites across England and Wales have been told of [...]

Probate Fees Increase – Latest Update

Latest news from STEP England and Wales probate applications can be submitted before IHT clearance, while new fee scale remains in limbo Thursday, 28 March, 2019 Personal representatives (PRs) have been told they can submit applications for probate before they receive clearance of their inheritance tax (IHT) ‘account’ from HMRC, in a temporary concession to [...]

What is Crypto Currency – why should you care?

Bitcoin. Ripple. Ethereum. Litecoin. Dogecoin. To some, these words look like gibberish, but the reality is, they are all different types of cryptocurrency. Cryptocurrency is digital money which uses encryption techniques to generate currency and verify the transfer of funds. It has been designed to be quicker, cheaper and more reliable than our regular government [...]

Who will get your pension benefits?

Over half of the population could be naively handing their inheritance to the wrong person. 54% of the population are unaware that their pension policy will be passed down to the person named on the policy, even if an updated will says otherwise. The study of more than 2,000 UK adults, completed by the Pheonix [...]

Do YOU have a will yet?

Rise of Will making in 2019? The Kings Court Trust announced in their second annual report in 2018 that under half (45%) of the adult population in Great Britain have a Will. This figure has increased by 6% compared to last year when the proportion was 39%. This is encouraging as it shows that the [...]

What is Estate Administration

Estate administration is the process of dealing with a person’s legal, financial and personal tax affairs after they have died. It involves far more than obtaining a Grant of Probate (Confirmation in Scotland) which is just one element of the process. It means dealing with all their assets, such as property, shares and personal possessions; [...]

Everyone has a WILL but is it the right one for you?

According to research by Royal London, more than 5 million people in the UK are confused by Wills and are not sure where to begin. Six in ten parents either do not have a Will or it is out of date. Whilst 34% of UK adults said an illness would prompt them to create a [...]

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