28 09, 2017

Just another hurdle from HMRC

If you’ve agreed to be a trustee – beware! So, your best friend or family member has asked if you would be an executor in their will. This usually includes duties as a trustee, especially where children are involved and their legacy is to be held in trust. Well here you have to be careful. [...]

27 09, 2017

Did you wonder why your IFA (financial adviser) does a risk profile for you?

Risk profiling is fraught with misunderstandings that lead to ill-advised approaches to determining investment suitability. Risk tolerance reflects the level of risk which should be delivered for a client over the long term. Behavioural risk attitudes, in contrast, should not be mistaken for risk tolerance. They are not attitudes we should want in the driver’s seat [...]

22 09, 2017

Executors beware – What you will need to know to claim the additional Residence Nil Rate Band IHT

When someone dies, the executor has many duties. One of them is to ensure that the full Inheritance Tax (IHT) allowances have been claimed. Although an additional nil rate band has been introduced, it has brought with it and additional layer of complexity.  Here’s an extract from one of the additional forms that are now [...]

4 09, 2017

Is a Property Protection Trust an option for you and your family?

A Property Protection Trust Will is a will designed to help protect an estate from potential future probate costs. It also helps ensure bloodline planning is achieved and removes any possible sideways inheritance issues through scenarios such as divorce. Such a trust will ring-fence property from creditors and remove it from possible assessment for long-term care [...]

24 08, 2017

Protect your business assets and limit IHT

Many couples draw up simple Wills whereby on the death of the first partner the whole of the estate passes to the survivor, and on second death to children or other family members. For someone who is not in a relationship often the estate is passed directly to children or other family members. Where the [...]

21 08, 2017

Britons feud after a relative dies without writing a will

More than one million Britons have feuded after a relative died without writing a will, with one in five bust-ups so severe family members end up not talking to one another A third who promised something to a loved one hadn't actually put it in will Study by Macmillan Cancer Support found 59 per cent [...]

15 08, 2017

Lasting Powers of Attorney abused.

You will have heard in the news that a retired senior judge has warned that the power of attorney system in England and Wales lacks adequate safeguards to protect people and their assets. This emphasises the need to ask a professional to arrange the Lasting Power of Attorney. Someone independent who can ask the difficult [...]

9 08, 2017

Don’t rely on a Deed of Variation

A Will is arguably the most important document you will ever make. Sitting down with your trusted advisor, talking through your options and finally executing the document can provide you with the peace of mind in knowing that if anything should happen, your wishes will be carried out. After signing their Will, the vast majority [...]

8 08, 2017

What is sideways disinheritance?

Recent news has indicated a huge increase in the amount of inheritance being passed on to younger generations. It is estimated that £1 trillion is set to be passed on through inheritance in the next decade. That’s all great but without fairly straightforward planning inheritances can be lost to sideways disinheritance, as in Linda Bellingham’s [...]

5 08, 2017

Are pension withdrawals such a good thing?

According to data from the HM Revenue & Customs, 200,000 individuals withdrew a combined total of £1.86 billion from their pension funds during the second quarter of 2017. In its recent Retirement Outcomes Review interim report, the FCA said taking pension money early has become the ‘new norm’ with nearly three-quarters of pots accessed by [...]

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