IHT receipts 7.2% higher than last year – HMRC
HM Revenue and Customs figures today revealed that Inheritance Tax receipts for April 2024 were £700million, which is £85million or 7.2% higher than the same month last year. Laura Hayward, Tax Partner at professional services and wealth management firm Evelyn Partners, said that the IMF this week suggested that the Chancellor “should raise inheritance tax, […]
BWAP early bird deadline today and ticket sales launched
Firms wishing to enter The British Wills and Probate Awards, sponsored by CTT Group, have until midnight tonight (Friday 24th May) to take advantage of the Early Bird entry price of £129 +VAT. From tomorrow (25th May) the price of entering the awards will increase to £169 +VAT. To take advantage of the early bird […]
UK charities lose millions as legacies overlooked in wills, Farewill urges action
The UK’s biggest charities are missing out on millions of pounds in much-needed income because people forget or neglect to put a legacy in their final will and testament. Farewill is urging people to think about the legacy they want to leave behind so that causes close to their hearts are not forgotten. Calling for […]
Blended family case study explored at The Association of Lifetime Lawyers National Conference in June
The Association of Lifetime Lawyers National Conference 2024 takes place on Thursday 20th June 2024 at The Shaw Theatre, London. Five expert speakers will guide attendees through a colourful case study to explore the issues that arise after health issues, family changes, and death. This year’s speaker line-up includes: Caroline Bielanska, Consultant Solicitor and mediator […]
Equity Release Council launches legal guide and champions lawyers’ safeguarding role with vulnerability insights report
The Equity Release Council has launched a Legal Guide to Equity Release as well as a new report, Vulnerability Vigilance, exploring the most common customer vulnerabilities which legal advisers can encounter. The study took an in-depth look at a sample of more than 300 cases from last year where the customer had been identified as […]
Majority of small-medium firms plan growth and invest in tech – report
LexisNexis Legal & Professional have released a new report – Bellwether 2024: Lessons on law firm growth – which reveals nearly two-thirds of small- and medium-sized firms plan to grow in the next five years, and they’re investing in technology to help them get there. The survey of 265 associates and senior leaders at small- […]
Norfolk firm fined over £120,000 for eight-year mismanagement of estate funds
A Norfolk law firm, Hansells, has been fined nearly £121,000 for distributing incorrect sums to estate beneficiaries and failing to rectify the issue for eight years, as reported by The Law Society Gazette. The Solicitors Regulation Authority (SRA) deemed this financial penalty as fitting and proportionate given the gravity of the misconduct. Hansells, an alternative […]
Making a will following a diagnosis of dementia and avoiding validity challenges
It is sometimes assumed that a will cannot be valid if it was made by a person who suffers from dementia. However, many people retain capacity to make a will for a significant period following their diagnosis. Tests for capacity are task specific. For example, someone may have capacity to make a will, but not […]
The Great Wealth Transfer
People who were born between 1946 and 1964, the so called Baby Boomer Generation, is a cohort of 16.8 million people; and due to favourable financial conditions in that time are the wealthiest generation in human history, holding somewhere in the region on 80% of the UK’s wealth. With the older baby boomer now 78 […]
