New customer revival drives 15% rise in Q2 equity release lending
The Equity Release Council’s latest quarterly market report shows that new customer numbers rose by 12% in Q2, compared with Q1, while total lending rose 15% to £578m. A double-digit rise in the number of customers taking out new products made Q2 2024 the busiest quarter for almost a year for the equity release market […]
IHT receipts for April to June £83m higher than same period last year, data reveals
HM Revenue and Customs today revealed that Inheritance Tax receipts for April 2024 to June 2024 were £2.1billion, which is £83million higher than the same period last year. That is an annual increase of 4.1%. Rosie Hooper, chartered financial planner at Quilter Cheviot said that the latest HMRC tax receipts reveal a “significant increase” in […]
Fiancée wins legal battle to amend will after solicitor’s error
Nina Angelova has successfully won a High Court case to amend her late fiancé Peter John Bryant’s will, which had been mistakenly drafted due to a solicitor’s clerical error, as reported by The Law Society Gazette. Bryant, who passed away in December 2020, had a will prepared by the northwest law firm Gorvins LLP. A […]
House of Lords to debate assisted dying law reform
The House of Lords is set to debate changing the law on assisted dying. A private members’ bill proposed by Lord Falconer will be introduced to the House of Lords next Friday and would grant people with six months to live or less, the right to die. Sir Keir Starmer has promised MPs a free […]
Record number of dementia diagnoses in England in the past year, NHS reports
Recent NHS data reveals a record 487,432 individuals in England received a dementia diagnosis in June, as reported by The Guardian. Despite this milestone, the diagnosis rate remains below pre-pandemic levels, with 65% of those estimated to have dementia diagnosed, missing the NHS target of 66.7% last achieved in 2019. England boasts one of the […]
Baby boomers urged to prepare finances amid rising IHT liability
Baby boomers in their 60s and 70s are being advised to prepare their finances as more Britons face increased inheritance tax (IHT) liabilities. Recent data from HM Revenue and Customs (HMRC) shows that IHT receipts for April to June 2024 reached £2 billion, an £83 million increase from the same period last year, marking a […]
The importance of a human touch: Opportunities and risks of using AI in estate planning
Since its launch in 2022, the Artificial Intelligence (“AI”) chatbot ChatGPT has become the fastest-growing consumer internet app with over 100 million estimated monthly users globally. It is clear that ChatGPT and other programs utilising generative AI are here to stay. Given their increased accessibility and sophistication, we will no doubt see AI tools transform […]
Is the Government doing enough to protect vulnerable Will writers?
In dispute resolution, where I’ve built the mainstay of my practice, I’ve come across my fair share of contested Wills – and capacity of Will writers is an issue that is raised again and again. The image that arises in the popular imagination of contested Wills is one of fraud and mystery, something out of […]
