IHT & Gifts: Judge allows £6m gift

In a previous blog, we discussed how you can reduce your Inheritance Tax liability by making gifts. It really can be an effective way of reducing your estate for IHT, if done correctly. IHT & Gifts Interestingly, there was an article in the paper recently stating that a Court of Protection judge decided that a man […]

HMRC Inheritance Tax receipts

Did you know that HMRC Inheritance Tax receipts increased by 8% in the last tax year? HMRC collected a massive £5.2billion in Inheritance Tax in the 2017/18 tax year. This sum is only expected to rise in the coming years. Click here to read the full article. Is your estate over the current Inheritance Tax […]

GIFTING PROPERTY: Risk Losing your Home

So many people think that gifting property to their children is wise. Yet, don’t stop to consider the implications of such gifts. Gifting is a great way to reduce your estate for Inheritance Tax purposes. However, there could be Inheritance Tax consequences which alone could be grave. But, you also have to face the reality […]

WILLS & PROBATE: Banks Cash In on Wills

Do you or your loved ones have a Will prepared by a bank? You may want to think about updating your Will after reading this blog, as you may be facing thousands of pounds in legal fees. In the late 1990’s and early 2000’s banks were offering Wills for very little, and in some cases, […]

Maximize Lifetime Gift Allowances to Reduce IHT

As discussed in one of our earlier blogs, you can reduce the overall value of your estate by making the most of your Lifetime Gift Allowances. Thus, reducing your estate value and in return, reducing your Inheritance Tax (IHT) liability. Lifetime Gift Allowances  Here is an overview of your gift allowances that you can maximize to […]

5 Great Ways to Minimize your Inheritance Tax (IHT)

At long last! A review of the Inheritance Tax (IHT)! You may have seen in the news recently that the Chancellor, Philip Hammond has written to the Office of Tax Simplification asking them to review the current IHT regime with a view to simplifying the complex and dated rules. The current Inheritance Tax rules have […]

Contentious Probate: Cohabiting Couples

Are you a cohabiting couple? If so, have you made provisions for your partner in your Will? No? Your partner could make a claim against your estate if you haven’t made provisions for him/her. In one of our earlier blogs, we did mention that the law does not recognise unmarried partners and, therefore they don’t […]

Probate: Inheritance Tax on Gifts

Most estate planners will tell you that gifting assets can be a good way of reducing your estate value for Inheritance Tax purposes. It can be an effective way to mitigate your Inheritance Tax liability, if done correctly. For a gift to be completely outside of your estate for Inheritance Tax purposes you must survive […]

Long Term Care Fees & Mitigation

It is a fact that people are living longer nowadays. It is predicted that by 2031 more than 36% of the population will be over 60 years old. And that around 70% will need long term care. The likelihood is that the cost of care will be an issue for most of us. Especially in […]

Second Marriage Syndrome – Wills and IHT

Second Marriage Syndrome is basically when the surviving spouse remarries. This guide will look at the implications this can have on your estate, especially for your children. We will also provide tips on how to prevent this from happening. A married couple can have mirror Wills and usually they give everything to each other in […]