Over 38k charitable estates were found in wills in 2023 – report
38,178 charitable estates were found in wills in 2023, the highest number recorded since tracking sector data in 2012, according to Smee & Ford’s annual trends report. The 2023 figure is the highest number of charitable estates recorded. The years 2019 and 2020 were impacted by processing and system changes at the HMCTS and the […]
IHT hits record £7.5bn, escalating concerns over frozen thresholds
HM Revenue & Customs data has revealed that a record amount of £7.5billion in Inheritance Tax was paid to the Treasury in the 2023/24 tax year. Total receipts for April 2023 to March 2024 were £0.4billion greater than the all-time high of £7.1billion in 2022/23, a rise of 5.6% Laura Hayward, Tax Partner at Evelyn […]
Survey: Exizent 2024 Bereavement Index
Exizent have announced the launch of its Bereavement Index for the fourth consecutive year. This index provides insights into the state of bereavement in the United Kingdom, highlighting areas where progress has been made and identifying areas that still require attention. To create this report, Exizent conducts surveys among legal professionals, financial services professionals and […]
Dedicated auction platform for probate property launches
A dedicated probate auction platform has been launched exclusively for probate property, serving executors, administrators, solicitors and family of the deceased. Probate.Auction is described by its founders as the first countrywide auction platform for probate property. It hopes to deliver speed, transparency and certainty for probate properties, reducing the average time to sell from 140 […]
How can charitable gifts make an estate work harder for all beneficiaries?
Raising £4 billion annually*, charitable gifts in Wills are crucial to sustaining a wide range of good causes and services – from hospices and homeless shelters to mental health helplines, emergency rescues, and more. In a challenging economic environment, and as these essential services face an ever-increasing demand, this income has never been more valued […]
Probate delays surge: A 65% rise in year-long cases
New analysis of Freedom of Information (FoI) data obtained from the Ministry of Justice by Quilter has found that the number of probate cases taking over a year to be granted has risen by 65% over the last three years. In addition, the number taking just under two years to be granted has also risen […]
Using technology to help manage digital assets
Dylan O’Brien, the founder of BePrepared, joins the latest Today’s Wills and Probate podcast to discuss his take on the increasingly challenging issue of managing digital assets in estate planning, and what role technology has to play in supporting practitioners. BePrepared was launched in Australia and has expanded into the USA and UK in the […]
