Posts tagged “Estate Planning”

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Trusts for bereaved children and young people

Posted on 13th July 2022

If you make a gift to a young person in your Will which they receive when they reach a certain age you will create either a bereaved minor’s trust or a bereaved young person’s trust, depending on their age.

Inheritance tax paid by families has doubled in a decade

Posted on 27th May 2022

The amount of inheritance tax (IHT) families pay has more than doubled in a decade.

Increasing house prices have added to the amount of Inheritance Tax paid by families

House of Lords rejects care cap proposals for a second time

Posted on 12th April 2022

the proposed care cap could mean poorer people have less to leave to their families.

In March the House of Lords voted against changes to the way we pay for our care that could mean poorer people have much less to leave to their families.

Changes to probate fees and inheritance tax in 2022

Posted on 7th January 2022

This month there will be changes to probate fees and the rules concerning inheritance tax.

Gifts to your family can bring unexpected inheritance tax bills

Posted on 21st December 2021

In a recent poll nearly half of respondents didn’t know anything about the rules concerning inheritance tax (IHT).

People giving gifts to their children and grandchildren could find they are liable to inheritance tax

What will the Health and Social Care Bill mean for older people?

Posted on 7th December 2021

Living costs aren't included in the government's cap on how much people will need to pay on their care costs

The Health and Care Bill was passed in the House of Commons on 22 November. It was then reviewed in detail by the House of Lords but several stages must still be completed before it receives Royal Assent, which is expected to be in April 2022.

Are online Wills worth the paper they aren’t written on?

Posted on 22nd October 2021

While most people in the UK believe their affairs are simple, their requirements are often quite complicated when it comes to their Will.

According to recently published research online Will writing services often fail to consider things that can significantly affect the details of your Will such as marital status, children, assets, business and property ownership, overseas property investments and disinheritance.

creating your Will on your laptop is easy but it might not be valid.

Understanding the care home fees cap

Posted on 30th September 2021

In 2014 the Care Act introduced a ‘care cap’ of £72,000 on the total you would be liable to pay for your care costs. It came in to effect in April 2020.

However, most people will have to spend much more before the cap is reached; often over £140,000.

Can I leave cryptocurrrency in my Will?

Posted on 13th April 2021

Cryptocurrencies like Bitcoin or Ethereum are digital – they can be bought, spent, saved, and sold.

Unlike money you might have an a bank account, cryptocurrency is handled using computer technology known as ‘blockchain’.

People store cryptocurrency in a digital wallet and they must have virtual keys to access it.

Why you need a Will for your business

Posted on 23rd February 2021

A valid Will makes it much easier for your executors to administer your estate when you die. Your friends and family will receive their inheritance as you intended, and people will be reassured that they understand your wishes.

There are almost six million businesses in the UK, most of them ranging from sole traders to businesses with around 10 employees, but many people don’t put the same measures in place for their business.