Changes to Inheritance Tax in the 2015 Budget
Inheritance Tax is charged on the transfer of property passing on death (chargeable transfers) subject to various exemptions and reliefs, notably for certain business and agricultural property. It is also levied on certain lifetime gifts. In the UK, death taxes were first introduced in 1796 to finance the war against Napoleon, but inheritance tax as […]
What is a Lasting Power of Attorney and why do I need one?
Imagine you have a joint account with your partner and he or she is unable to manage money due to something like dementia. Should this happen, the bank can freeze a joint account making it impossible for you to access any of your money. This could be disastrous in the short time and involve a […]
What can we expect from a Conservative Government following the General Election?
This week we are taking a look at the key pledges made by the Conservative party and what we can expect from them in the next five years, a lot of which was included in the recent Queen’s speech (May 2015). They have promised to: Increase the Inheritance Tax threshold on family homes to £1 […]
My Top 10 Reasons Why You Need a Will
Do you have a valid Will? If the answer is yes, congratulations, you are among only 33% of adults in the UK who do. If you answered no, you are unfortunately among the majority of people who haven’t made plans for what happens to their assets when they die. Having a Will is not a […]
The Importance of Using a Professional to Make Your Will
A friend of a friend has recently died – naming my friend as an executor. The deceased has been ill for 3-4 years, and on advice of their friends had made a Will in 2009, and had asked 2 people if they would be happy to act as executors, to which they both agreed. Over […]
The Importance of Estate Planning
Not long into Captain Ahab’s search for the Great White Whale, one of the Pequod’s longboats is attacked, the sailors escape the immediate peril of the vengeful whale, but are “tossed helter skelter into the white curdling cream of the squall”. They find themselves “drenched through, and shivering cold, despairing of ship or boat” […]
