We often hear politicians and commentators proudly announce that “the economy has grown.” But what does that actually mean? The key point is this: If the economy grows by 2% in money terms, but inflation is also 2%, then in real terms the country has effectively stood still. Economists distinguish between: Nominal Growth – the [...]
Why EU succession rules Still matter for UK families Many people assumed that once the United Kingdom left the European Union, European inheritance rules would no longer affect UK citizens. Unfortunately, that is not quite the case. Even though the UK is no longer part of the EU, an important piece of European legislation — [...]
Why pension nomination forms and supporting instructions now matter more than ever... The proposed inclusion of pension death benefits within the Inheritance Tax (IHT) framework has highlighted a practical issue which many families and advisers may not yet have fully considered. Many pension funds are still distributed under the discretionary powers of the pension trustees [...]
Recent commentary from leading private client expert Professor Lesley King highlights a significant shift in HMRC’s approach to Inheritance Tax (IHT). HMRC has recruited 1,000 additional valuation officers, and investigations into underpaid IHT have increased in the year to April 2025—raising an additional £246 million. This is not about changing tax rates. It is about [...]
(They must be put in place in advance) A Valid Will Once someone has died, it is too late to decide how their estate should be distributed. Without a will: The intestacy rules apply Assets may pass in unintended ways Unmarried partners may receive nothing Administration becomes more complex, expensive and stressful for the family [...]
How We Work with Independent Financial Advisers (IFAs) - Clear roles, Joined-up planning, = Better outcomes. At Lifetime Trustees Ltd, our role is to help clients put in place clear, effective, and robust estate-planning arrangements, including wills, trusts, and succession planning. Good estate planning increasingly depends on close coordination with financial planning, particularly where pensions, [...]
Pensions and Inheritance Tax: New Rules from April 2027 For many years, pensions have played a valuable role in estate planning because, in most cases, unused pension funds fell outside the inheritance tax (IHT) net. That position is changing. From 6 April 2027, the Government intends to bring most unused pension funds and pension death [...]
Crypto Scam Warning: “We’ve found your Bitcoin” / “Recovery Agent” Emails What this looks like Some clients receive convincing emails claiming the sender has found a cryptocurrency account or wallet in the client’s name and offering to “help recover” funds. These messages often include official-looking details (company numbers, FCA links, addresses) to build trust. Why [...]
Why does a will sometimes specify an inheritance age? Many people choose not to leave an inheritance to a beneficiary outright at 18. Instead, a will may specify that a gift is received at a later age, such as 21, 25 or 30. This is usually done to: allow beneficiaries time to mature; protect younger [...]
Digital assets are to be formally recognised in law with the Property (Digital Assets etc) Act receiving Royal Assent this week. Previously many digital assets, including cryptocurrency or non-fungible tokens, had undefined legal rights. The updated legislation will formally recognise digital assets as personal property in the eyes of the law and can be treated like traditional [...]