Happy New Year!
Happy New Year from the team at Today’s Wills and Probate! We hope you all enjoyed the festivities and a well-earned break over the Christmas period. We’d like to take this opportunity, as the New Year edges closer, to thank all of our readers and partners for your continued support in 2021. Wishing you all […]
Digital ID checks to be introduced from April
The Government has announced that from 6 April 2022, digital identity document validation technology (IDVT) will be introduced to support employers and landlords with right to work, right to rent and pre-employment DBS checks. The Home Office and Disclosure and Barring Service (DBS) are working with the Department for Digital, Culture, Media & Sport (DCMS) […]
SRA receives perfect score in annual LSB review
Following the LSB’s annual review of frontline regulators last month, the SRA has reportedly met all 27 of the required outcomes in its regulatory approach, authorisation, supervision, enforcement and leadership. The results show that the SRA was one of just two organisations that achieved a perfect score in the review and is the second year […]
Reminder: IHT reporting changes in January 2022
Following amendments to Inheritance Tax Regulations earlier in the year, changes to IHT reporting requirements will be effective from 1st January 2022. Changes that will be effective for the death of individuals from 1st January include the extension of some thresholds, meaning that more estates will fall within the excepted estates thresholds and use of form […]
Government announces record funding for adult social care
As part of its adult social care reform white paper People at the Heart of Care, the Government has announced that a total of £1.4 billion will be made available over three years to help increase the fee rates local authorities pay to care providers, meaning that providers, residents and staff will all benefit from […]
IHT receipts increase by £600m
Inheritance tax receipts for April to November were £4.1bn, a £600m increase compared with the same period in 2020, according to the latest set of official figures. HMRC said that it had expected higher receipts in October and November 2020 due to higher volumes of wealth transfers that occurred during the COVID-19 pandemic, and commenting […]
HMCTS reports increase in digital probate grant applications
HMCTS Q3 statistics show an increase in both the proportion of digital applications for probate grants and probate grants issued digitally. In July to September 2021, there were 52,750 applications for probate grants and 58,642 probate grants were issued in the same period. 79% of these applications and 82% of these grants issued were made […]
A third of retirees will rely on downsizing and inheritance
New research by Abrdn reveals that millions of retirees in the UK are relying on downsizing to a smaller property in addition to using their inheritance to finance retirement. The research, conducted on a pool of 2,000 people, indicated that a third (33%) were planning to sell-up and move to a smaller home, and a […]
Legacy Contact function introduced to Apple products
Apple’s newly released iOS 15.2 operating system and upgrade now includes a feature called Digital Legacy, a function that allows iPhone users to designate people as Legacy Contacts, who then have permission to access their account and personal information in the event of their death. A recent report, Digital Assets: A Call to Action, by […]
Growth milestones: Bereavement platform Exizent signs 50th customer and brings staff numbers up to 35
Legal technology firm Exizent has hit a number of significant milestones including signing its 50th customer and raising its staff numbers to over 35, just over a year after launching. Glover Priest, a law firm operating across Birmingham, Staffordshire & Northamptonshire and North Wales-based Hughes Parry are the latest clients to sign up to Exizent’s […]
High Court allows judicial review of Government plans to replace RPI with CPIH
The High Court has announced that a judicial review will be heard on the Government’s decision to replace Retail Prices Index (RPI) with the housing cost-based version of the Consumer Prices Index, known as CPIH, from 2030. The hearing is expected to take place in the Summer of 2022 following an application for review brought […]
TSF’s products and services – what the professionals say…
Gill Steel, founder of Lawskills, the learning and development consultancy for private clients, hosted a discussion about the benefits of Tower Street Finance’s products and services recently. She was joined by Foot Anstey partner Rachel Brooks and TSF director Dicky Davies. The debate was filmed and you can view it here. Gill opened by explaining […]
Clio’s Top Innovations, Releases, and Resources for UK Law Firms in 2021
At Clio, we’re on a mission to transform the legal experience for all. To do that, we’re investing heavily in both technologies and resources that are designed to move legaltech forward, making it easier for law firms to operate and for clients to gain access to justice. As we near the end of 2021, we’re […]
HMCTS publishes report on remote hearings
A new report detailing the experiences of those involved in remote hearings has been published by HMCTS. The report, conducted by IFF in collaboration my HMCTS documents the experiences of legal professionals, judges, court staff and the public involved in remote hearings between May and October last year, and is expected to determine HMCTS’ approach […]
Case study: 5 reasons this firm uses Clio for case management
When it comes to choosing a case management software for your law firm, Clio knows that your time is precious and that every firm’s needs are unique. That’s certainly the case for one Middlesbrough firm, the Immigration Advice Centre. They switched to Clio after first trying a variety of software solutions to manage their caseloads […]
Exizent announce membership of Scottish Financial Enterprise, strengthening links with institutions to transform the bereavement process
Glasgow-based technology firm, Exizent, are pleased to announce their membership with Scottish Financial Enterprise (SFE) to help transform the experience delivered by financial service institutions when handing bereavement cases. Helping businesses improve the services they deliver to families and representatives involved in a bereavement case is what underpins the Exizent offering. In recognition of this, […]
HSBC fined £63.9m for AML failures
The Financial Conduct Authority (FCA) has fined HSBC Bank (HSBC) £63.9m for failings in its anti-money laundering (AML) processes. HSBC used automated processes to monitor hundreds of millions of transactions a month to identify possible financial crime. However, the FCA found that three key parts of HSBC’s transaction monitoring systems showed serious weaknesses over a […]
Ending probate delays
Executors and bereaved families will be only too aware of the length of time it has taken during the pandemic to obtain grants of probate. Practitioners will be aware of this too but will also remember a time not so long ago when grants were issued soon after applications were submitted, sometimes in a matter […]
“Delayed homeownership” in under 40s shows changing attitudes to later life borrowing
Nearly half (45%) of mortgaged homeowners under the age of 40 got onto the property ladder “much later” than they expected, compared with 29% of over-40s, according to new research by the Equity Release Council (the Council) which highlights the British public’s changing relationship with home-ownership. A study of 5,000 UK adults’ financial experiences also […]
HMRC publishes new guidance for calculating IHT on gifts
HMRC has published new guidance for working out IHT due on gifts, including how to find out which gifts count towards the value of the estate, how to value them and how to work out how much IHT may be due. To work out which gifts to include in calculations, HMRC suggests following these steps: […]
Widow must “prove” she can use dead husband’s frozen sperm
A widow has been informed that due to an administrative mistake she is unable to use her late husband’s frozen sperm to have his baby unless she takes the case to the High Court. Thirty-five year-old Jade Payne from Northampton has been told by TFP Oxford Fertility that she must first prove that her husband […]
MOJ announces plans to reform Human Rights Act
The Ministry of Justice (MOJ) has announced a three month consultation as it plans to revise The Human Rights Act. The MOJ says that the proposed new legislation aims to strike a proper balance between individuals’ rights, personal responsibility and the wider public interest, which would be achieved while retaining the UK’s commitment to the […]
Legal Ombudsman must take “radical action” says Law Society
The Law Society has issued a statement saying that the Legal Ombudsman service (LeO) must take “radical action” if it wishes to retain the confidence of both public and profession. The Law Society said that changes made this year by the LeO are starting to show some signs of improvement, but the pace of change […]
Vaccinating against IHT
In a world where vaccines are front page news, it is important to not only protect against medical pandemic but also to ensure that there is effective protection against the endemic challenges caused by the UK inheritance Tax regime. With the continued growth of net household wealth, which according to the Office of National Statistics, […]
Beneficiary witnesses and void gifts in a Will – new rules needed to include cohabiting couples
With various rules governing who can witness a Will, it’s important that Wills, trusts and probate lawyers and Will writers know how the witness is connected to the testator and beneficiaries to avoid gifts becoming void and Wills challenged. Very little has changed in a long time in terms of signing and attesting Wills, with […]
More than a third of legal professionals considered quitting their jobs due to poor mental health
A lot has changed in the last year, particularly with regards to hybrid working habits and flexible arrangements. To understand the impact of these changes on the wellbeing and stress levels of legal professionals, Exizent conducted a survey to discover how they’re coping with the changes and what employers can do to improve the working […]
MOJ consultation on modernising LPAs comes to an end
A 12-week consultation on the Ministry of Justice’s (MOJ) proposals to modernise lasting powers of attorney (LPA) is now being analysed following the end of the consultation in October. The MOJ reports that over 300 responses were received through the online hub, post and by email from stakeholders and members of the public. Alongside the […]
Dan and Ben complete the Tower Street Finance team of 2021
As part of our continued growth, we’ve welcomed four new colleagues to the Tower Street Finance team over the last month and this week we’re excited to announce another two have joined us to complete our 2021 team. Dan Holland is the new addition to our business development team and Ben Ivory will be strengthening […]
Rules change on funeral pricing transparency
The Competition and Marketing Authority (CMA) has brought in new rules ensuring that all UK funeral directors make their pricing information easily accessible for customers. The CMA new rules require directors to display pricing information, alongside an additional options price list. In the windows of funeral homes, customers will now be able to find a […]
5 things you need to know about the upcoming changes to IHT reporting
The changes to IHT excepted estates rules are vastly approaching and will see the simplification of the administrative burden placed on most estates going through probate or confirmation. Below, we detail 5 key things you need to know about the changes and explain what they are, what they mean for those administering an estate and how Exizent can help legal service firms continue to show value to clients amidst the changes. Why are the changes happening? […]
Inheritance Data is pleased to launch the most comprehensive share search available to market
Inheritance Data has secured exclusive rights to a data set that covers the top FTSE 350 companies, LSE Main, AIM, Aquis Exchange, and Venture Capital Trusts. Our thorough Financial Asset Search request now includes a full search of these. It is reported that the value of the top FTSE 350 companies is circa £2.2TN and […]
A review of 2021 in the wills and probate industry
Genealogy and asset repatriation specialists, Title Research, recap on this year’s biggest headlines in the Wills and probate sector in their new informative content. 2021: The year in review blog Title Research’s latest blog looks at some of the most popular topics within the legal sector that they’ve followed throughout 2021, including: The legal sector […]