Tribunal refuses to grant PCO after testator appointed reversionary beneficiary of a trust holding £1M
Testator Peter Linington had used an inheritance tax(IHT) planning arrangement under which he was appointed reversionary beneficiary of a 150-year Isle of Man discretionary trust holding £1M in cash. The trustees were to accumulate income in this trust and pay any surplus to the income beneficiary while the reversionary beneficiary would become entitled to the […]
Legal firm’s commitment to professional development results in four internal promotions
A Cumbria law firm has announced it has promoted four members of its team as part of its ongoing commitment to developing the legal services it provides to its growing client base. Cartmell Shepherd Solicitors has rewarded staff members for their expertise within their legal specialism to support the company’s continued growth. Rebecca Armstrong has […]
Legal Services Board confirms interim leadership arrangements
The Legal Services Board has confirmed its interim leadership arrangements while its Board recruits a new Chief Executive Officer (CEO). This follows Matthew Hill’s resignation from the role in January 2024, ahead of his departure at the end of March. The existing three directors will share leadership responsibilities, while continuing in their current roles. Richard […]
The ongoing engagement problem; how tech drive more valuable, prolonged client relationships
Let’s start with a question. How many clients come to your firm for a will, and once completed, they disappear forever. Taking all their potential future value with them. We’re guessing it’s a lot. Our research indicates that near 70% clients never return to their solicitor for further services after an initial engagement. This presents […]
Probate Property Valuation: A Guide for Executors and Heirs
Probate property valuation can be a complex and crucial aspect of estate administration. Executors and heirs alike must navigate through various factors to determine the fair market value of the property accurately. This process not only ensures equitable distribution among heirs but also plays a significant role in tax implications and legal proceedings. In this […]
Law firms remain resilient in tough economic times – The Law Society
Against a tough economic backdrop and with the cost of living rising sharply, law firms saw profits go only marginally down, according to the Law Society’s Financial Benchmarking Survey that provides an overview of the financial performance of the legal sector. The research shows that profits per equity partner continued the pre-COVID trend, with median […]
