When estate value doesn’t equal estate liquidity
Managing risk proactively in estate administration depends on identifying and addressing potential issues before they become major problems. This includes recognising financial pressures that may not be obvious when looking at the value of the estate. While an estate can have substantial value in property and other assets, very little cash may actually be readily […]
Finalists for The British Wills and Probate Awards 2026 announced with tickets now on sale
The finalists for The British Wills and Probate Awards 2026, sponsored by Arken.legal, have been announced today (Friday 21st August) with 80 firms recognised for their commitment to organisational excellence and customer service success ahead of the annual celebration gala dinner on 8th October at Manchester’s Kimpton Clocktower Hotel. The shortlist is the culmination of […]
Consultation responses welcome ‘long overdue’ cohabitation reform – with caveats
The wills and probate sector has shared more responses to the government’s A Fairer End to Relationships consultation, which closed last week. While the overall view is positive, the responses come with caveats that changes must be fair and offer choices for cohabiting couples. STEP, the professional body for trust and estate practitioners, welcomed the […]
Reclaimed IHT doubles over 12 months as property values dip
A freedom of information (FoI) request from NFU Mutual has revealed the number of estates reclaiming overpaid inheritance tax (IHT) doubled last year, as a result of a mismatch between property valuations for the purposes of IHT and property sale prices. The number of estates which successfully reclaimed overpaid IHT jumped from 5,070 in the […]
SRA rebukes two solicitors for failures in estate administration
Two wills and probate solicitors have been issued with rebukes by the Solicitors Regulation Authority for the way they dealt with the administration of estates. Susan Mary Carpenter, a solicitor with Powell & Co in Sutton Coldfield, was instructed by two executors in May 2022 to act in the administration of their mother’s estate. The […]
£12k fine for client account breaches in the administration of an estate
A Kings Lynn firm has been fined £12,366 and ordered to pay costs of £1,452 for client account breaches relating to the administration of an estate. The Solicitors Regulation Authority fined Hawkins Ryan LLP for transferring £23,348.50 from its client account to its office account between June 2022 and December 2023 for work pertaining to […]
‘Use existing data before introducing new reporting obligations’ Law Society tells SRA
The Solicitors Regulation Authority (SRA) should ensure proposals for new reporting requirements for firms are evidence-based, proportionate and do not create unnecessary administrative burdens, particularly for smaller firms, the Law Society of England and Wales has warned. In its response to the regulator’s latest client money consultation, the Law Society said it supports the SRA’s […]