If someone is making a claim under the Inheritance Act 1975, they will generally have just six months from the date of the Grant of Probate or Grant of Letters of Administration in which to start the legal process. Standstill agreements are often used to try and extend this period. They constitute an agreement between […]
Standstill agreements in Inheritance Act claims Read More »
If you are buying a property jointly with someone else, you can either own it as joint tenants or as tenants in common. We look at why buying a property as tenants in common might be the right option and what you need to take into account when making your decision. When you buy a
Guide to buying a property as tenants in common Read More »
The government has announced that temporary Will signing measures, put in place during the Covid-19 pandemic, ended on 31 January 2024. During the pandemic lockdown, a temporary amendment was made to the Wills Act 1837, allowing Wills to be witnessed by video. Accompanying guidance suggested that this should only be done as a last resort
Witnessing of Wills by video ends Read More »
If you are based overseas and you are dealing with the estate of someone who was British and had UK assets, you are likely to need a Grant of Probate or a Grant of Letters of Administration from the UK Probate Registry. Winding up someone’s affairs after their death is never easy. If there is
Can an overseas executor deal with a UK probate? Read More »
The Resolution Foundation, an independent think tank established to improve the standard of living of low-to-middle-income families has called on the government to move to a new structure for charging Inheritance Tax. The organisation suggests lower rates for estates worth up to £1.5 million. We take a look at the current rates of Inheritance Tax
Prominent think tank calls for Inheritance Tax reforms Read More »
Charitable legacy analyst Smee & Ford has revealed figures from its annual Legacy Trends report showing that more gifts were left to charities in Wills in England and Wales in 2022 than ever before. Out of 231,582 estates that were processed where a Will had been made, 36,992 estates left a gift to charity. Smee
Highest ever number of bequests to charities in 2022 Read More »
In a recent inheritance claim case, a disabled adult won £195,000 from his late mother’s estate after being left out of her Will. The estate’s executor and beneficiary subsequently lost an appeal, with the appeal court upholding the original decision. Under the Inheritance (Provision for Family and Dependants) Act 1975, certain individuals are entitled to
Inheritance claim win for adult child against parent’s estate Read More »
Research carried out by Barclays Wealth has found that nearly a third of millennials would prefer that their parents spend money on their retirement rather than saving it to pass down by way of inheritance. The study found that 32% of older millennials would rather that cash was spent on a comfortable life in retirement
Millennials will give up inheritance to enable parents to live comfortably Read More »
The chancellor’s autumn statement confirmed that the current Inheritance Tax threshold will be frozen until at least April 2028. This follows a previous announcement freezing it until April 2026. The two-year extension to the lower limit means that more families will be required to pay Inheritance Tax as more estates exceed the nil rate band
Inheritance Tax threshold frozen until 2028 Read More »
A new study carried out by Tower Street Finance has found that the value of estates likely to be left has fallen and 10% of those questioned believe they will not be able to leave anything to their loved ones. The research also found that with living costs rising, a substantial number of people are
New research reveals 1 in 10 will leave zero inheritance Read More »