The UK has started its free trade agreement (FTA) talks with Mexico, with solicitors’ leaders hoping negotiators will lock in current legal services market access and increase trade in other sectors. The International Trade Secretary launched negotiations on a new UK-Mexico Free Trade Agreement (FTA) alongside her Mexican counterpart, Tatiana Clouthier, in London last week. […]Read More
The Pension SuperFund (PSF) has announced the appointment of eight Non-Executive Directors (NED)/Board members, covering both the corporate and sponsor operational sides of the business. David Barral: ex CEO of Aviva UK Life and also former Chair of the retirement and savings committee at the ABI; Sheila Gunn: employment and pensions lawyer in practice for 23 years; currently a NED […]Read More
The Ministry of Justice has published its response to the Modernising Lasting Powers of Attorney (LPA) consultation. Launched in July 2021 the Modernising LPA project which sought responses via industry consultation, aimed to increase safeguards, especially for the donor; improve the process of making and registering an LPA for donors, attorneys and third parties, and; […]Read More
Older homeowners accessing the value held in their homes via lifetime mortgages and other forms of equity release are directly adding nearly £1.8 billion in GVA across the UK economy, according to a new report from Legal & General and the Centre for Economics and Business Research (CEBR). Spending funded by equity release is further […]Read More
Up to 35 million savers now have access to the Pensions and Lifetime Savings Association (PLSA)’s Retirement Living Standards through their pension scheme’s communications. In total, 124 organisations are using the Standards, including over 100 pensions schemes and some of the largest and best-known industry brands. A further 25 schemes have signalled their intention to […]Read More
Many small law firms are thinking big when it comes to the tech they need to see them through another period of profound change. But the latest research from LexisNexis’ Bellwether report shows that 47% say they have no plans to invest in any technology at all. Today, LexisNexis Legal & Professional released the 10th […]Read More
The Office of Public Guardian (OPG) has published new blog posts outlining frequently asked questions it encounters when creating an LPA. Recent news reports and discussion on social media sites, such as LinkedIn, have highlighted long delays and a “deteriorating” service at the OPG in relation to LPA registration. In the blog, the OPG states, […]Read More
New research from IBB Law reveals key statistics around will disputes. In January 2022, IBB Law conducted a survey of 1,000 UK citizens who had been involved in a will, inheritance, or probate dispute over the past 10 years, asking various questions about their experience. The study took a deep dive into matters associated with […]Read More
Women in Wills is delighted to be hosting its next in-person event on Thursday 26th May at The Jockey Club, Exeter Racecourse, with guest speaker Lucy Gill, Head of Legacies, Inheritance and Trust Disputes, and Dispute Resolution at Foot Anstey. Women in Wills was founded in July 2019 with the aim of fostering collaboration between […]Read More
Solicitors involved in pre-paid funeral plan work – and the wider public – are being asked for their views to help shape the approach of the Solicitors Regulation Authority (SRA) in dealing with new rules in this area. The Financial Conduct Authority (FCA) will be introducing new rules concerning pre-paid funeral plans from July […]Read More
A new industry body representing estate planners, the BEST Foundation, has organised and written an open letter to the OPG relating to problems within the service, particularly around delays to LPA registrations. The BEST Foundation has written an open letter to the OPG on behalf of several industry practitioners to highlight problems within the service […]Read More
Administrators acting for the failed funeral plans provider Safe Hands Plans has revealed that it is not in a position to repay the £64m it needs to customers. FRP, the administrator acting for the Wakefield-based Safe Hands Plans, says that its 47,000 customers should not expect payments and will instead be left with worthless plans […]Read More
Time to simplify the system as pensioners reclaim £22 million in overpaid tax from HMRC. Latest HMRC statistics show that between 1st January 2022 and 31st March 2022, it paid out £22,317,529 to people who overpaid tax when they accessed their pensions flexibly. Due to the current system, anyone accessing a pension flexibly is taxed […]Read More
Latest figures from the ONS show that in 2020, there were 103,592 divorces granted in England and Wales, but with the new no fault divorce law that came into force on the 6th April, this figure is likely to increase in the coming years. Thinking about family finances may be the last thing couples want […]Read More
New figures released today show that solicitors and Will-writers are playing an increasingly important role in charitable Will-writing, with more than 1 in 5 Wills handled by UK legal advisers (22%) now including a donation to charity. The Savanta Will-writing survey, commissioned by Remember A Charity, reveals that 7 in 10 solicitors and Will-writers (71%) always or sometimes alert clients to the Inheritance Tax […]Read More
Co-op Legal Services, the UK’s largest regulated provider of wills, estate planning and probate services, has reported a strong year of growth in its annual results with overall revenues having increased by 3% compared to the previous year (2021: £39m, 2020: £38m) and profits up by 28%. The strong performance has largely been driven by […]Read More
Prepaid probate plans have been the focus of much discussion and press in recent weeks, with some reports coining it the new “wild west” of the industry following the announcement that funeral plans will become regulated from July. But what are prepaid probate plans and how do they work in practice? Today’s Wills and Probate […]Read More
Latest HMRC figures show that IHT receipts for April 2021 to March 2022 are £6.1 billion, which is £0.7 billion higher than in the same period a year earlier. Commenting on the overall annual figures HMRC has stated that higher receipts in October 2020, November 2020, and March to August 2021 are due to higher […]Read More
The equity release market is continuing to expand following 2021’s return to growth, with the latest research from the Equity Release Council (ERC) showing a further increases in the number of equity release customers in the Q1 2022. 23,395 new and returning customers withdrew equity from their property during the first quarter – a new […]Read More
Tower Street Finance is pleased to announce that Robert Husband has been appointed as permanent CEO. Robert joined the business as interim CEO in the summer of 2021. Robert has spent the last 20 years living and working across the Americas and has over 15 years’ experience in the consumer finance sector. Previously, he was […]Read More
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